polestar launched in 2017 with the lowvolume halo polestar 1 hybrid performance car polestar the premium electric vehicle maker owned by chinas geely and volvo cars expects sales to hit 29000 this year and to grow tenfold by 2025 as it rolls out new vehicles starting with an suv next year its chief executive said the polestar 3 suv which will be built at volvo cars plant in south carolina starting in the second half of 2022 is an important step for our company thomas ingenlath said in an interview ahead of a series of events polestar is hosting with investors to discuss company strategy advt we are not a virtual company waiting to build factories and sell cars we are an actual company already building and selling cars around the world he said polestar launched in 2017 with the lowvolume halo polestar 1 hybrid performance car it now sells the fully electric polestar 2 car and on thursday released a teaser image of the polestar 3 in september the ev maker announced a deal to go public through a reverse merger with specialpurpose acquisition company spac gores guggenheim at a valuation of 20 billion that deal is expected to close in the first half of 2022 polestar based in gothenburg sweden expects global sales to hit 29000 this year and with plans to launch a new vehicle annually for the next three years it expects to sell 290000 units by 2025 ingenlath said the polestar 4 suv coupe is scheduled to follow in 2023 and the polestar 5 fourdoor gt in 2024 the company expects 40 of sales in the medium term to come from europe and 30 each from north america and asia polestar expects revenue of 16 billion this year double that amount next year and is targeting 17 billion in 2025 according to ingenlath part of that push will be the addition of overtheair updates for its vehicles starting with a performance upgrade for the polestar 2 that sells for about 1000 euros and gives a 68horsepower boost in performance the company also expects to add selfdriving capability on the highway for the polestar 3 around middecade also read advt geely unit lotus tech aims to raise up to 500 million in funds cfolotus cars the maker of the lotus esprit famously driven by james bond in 1977s the spy who loved me positions its vehicles in a segment similar to rival porsche it is set to open a new factory in wuhan china next yearsee more details reuters published on dec 3 2021 at 0616 pm ist telegram facebook copy link be the first one to comment comment now comments comment now read comment 1 all comments post post find this comment offensive choose your reason below and click on the submit button this will alert our moderators to take actions reasons for reporting foul language defamatory inciting hatred against a certain community out of context spam others report join the community of 2m