Polestar Doubles Revenue in First Half of 2022

• Polestar recorded revenues of $1.04 billion in the first six months of 2022, compared to $534.8 million in the same period of 2021, representing 95% growth year over year.

• The automaker is getting ready to debut the Polestar 3 SUV, which will be built in the US and will be the brand's second battery-electric model.

• The Polestar 4 is slated to follow in 2023, giving the brand another relatively large model that will also be built stateside.

The Swedish EV maker is now in the midst of its second full year of Polestar 2 production and sales, with the sedan about to be joined by Polestar 3 in a matter of months. The addition of the SUV model is set to give the brand its biggest boost to date after the launch of its first electric model, which occurred in the early months of the pandemic and was thus overshadowed by industry disruptions.

The Polestar 3, which will be built in South Carolina alongside Volvo models, will have its world premiere in October, with sales slated to start in mid-2023 in the US.

"With this car, we bring the 'sport' back to the SUV, staying true to our performance roots," said Thomas Ingenlath, Polestar CEO. "This is a major milestone for our company, one that boosts our growth trajectory and takes us into our next phase."

But just how is the company itself doing in the meantime, with all of its sales reliant on a single electric model? Polestar revealed that in the first six months of 2022 it saw revenues of $1.04 billion, compared to $534.8 million in 2021, representing 95% growth year over year or a jump of $506.1 million.