On June 24th, shares of Polestar will begin trading on the Nasdaq in New York. The stock symbol for Polestar is PSNY.
The IPO in the United States is a significant step for the rapidly growing automaker, which debuted in 2017. As a result of their skill as an OEM (original equipment manufacturer) combined with the nimbleness of a startup, Polestar has produced over 55,000 units of two different cars that have won numerous awards.
It's a tremendously exciting time for everyone at Polestar. We are entering a new era that can be summed up in a single word: expansion. By 2025, annual sales are projected to reach 290,000 electric cars. This is a significant increase from the 2021 total of 280,000 vehicles. "We already have a successful business, and the IPO will be our starting point to realize our ambitious plans and drive forward our industry-leading sustainability goals," said Thomas Ingenlath, CEO of Polestar.
After a banner year of sales in 2022 and more than 32,000 preorders for the Polestar 2, the company has decided to make its public debut on the Nasdaq stock exchange. It's an increase of 290% compared to the same time frame in 2021. In addition, since the close of 2021, Polestar has expanded from 19 to 25 markets, with 130 retail locations to back it up.
"By 2024, we will have introduced three new premium electric vehicles, including the Polestar 3, which will be our first electric SUV. Based on this lineup, Polestar will expand into the most lucrative electric vehicle markets around the world," according to CEO Thomas Ingenlath.
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