Polestar, a brand owned by Geely, has reported a significant increase in global retail sales volumes in the first quarter of 2025. The company sold an estimated 12,304 cars during this period, representing a 76% growth compared to the same period in 2024. Despite facing a challenging economic environment, Polestar managed to maintain stable sales figures compared to the previous quarter.
The sales growth is attributed to the increasing popularity of newer models and the transition to an active selling model by the company. Polestar CEO, Michael Lohscheller, expressed satisfaction with the progress being made in transforming the commercial operations of the company. He highlighted the importance of adapting to the volatile geopolitical environment and making necessary adjustments accordingly.
In the UK market, Polestar achieved a record-breaking milestone by delivering 3,695 vehicles in the first quarter, outperforming the EV market by 161%. Matt Galvin, Managing Director of Polestar UK, credited the success to the lineup of award-winning performance EVs, dedicated retailer partners, and the hard work of the team at the headquarters.
Looking ahead, Polestar aims to achieve a compound annual retail sales volume growth of 30-35% from 2025 to 2027 and expects positive adjusted EBITDA in 2025. The company also announced the upcoming launch of the Polestar 5, a performance 4-seat grand-tourer based on their in-house developed bonded-aluminium platform. This model will be the first to utilize 800-Volt technology, offering enhanced performance and efficiency.
Additionally, Polestar plans to introduce a premium Polestar 7 model manufactured in Europe, signaling a shift towards a single architecture approach from Polestar 7 onwards. This strategic move is aimed at reducing complexity, costs, and investments for the company in the long run.
Overall, Polestar’s strong performance in the first quarter of 2025 and its ambitious growth targets demonstrate the brand’s commitment to innovation and sustainability in the electric vehicle market. With a focus on cutting-edge technology and premium design, Polestar continues to make a mark in the automotive industry.
