Swedish Polestar expecting good EV business in 2024

Electric vehicle (EV) maker Polestar is expecting a business rebound in 2024 after not so high sales record in the past year.

Polestar sold 12,800 cars in Q4 2023 including 880 Polestar 4 sales in China. This figure could help the company to reach approx—54,600 in 2023, which may be a 6% growth compared to 2022.

Polestar 4 Electric Coupe

However, it’s short of its target of 60,000 cars for the same timeline, which was reduced from an initial target of 80,000 cars.

The EV maker’s CEO Thomas Ingenlath told Reuters that his EV company was in a tough situation and the company is no longer participating in the price wars.

The Swedish company said its new 4 SUV coupe will open orders by the end of January and launch Polestar 3 earlier this year. Polestar also confirmed previously that it has five EV models scheduled to launch through 2026.