- Electric vehicle maker Polestar Automotive Holding UK PLC (NASDAQ:PSNY) reported third-quarter vehicle delivery of 9,215 units.
- Year-to-date vehicle delivery jumped 100% year-on-year to 30,400 cars.
- A recent ramp-up in production following COVID-19 disruptions in China earlier in 2022 has resulted in significantly higher production rates, said Polestar.
- The company expects to meet its 50,000 global volume target for 2022 by delivering the remaining vehicles in Q4.
- “We needed to catch up on production after Covid-19 related setbacks in China and we have,” said CEO Thomas Ingenlath.
- The company will post its financial and operational results for the third quarter of 2022 on Friday, November 11, 2022.
- Price Action: PSNY shares are trading lower by 1.78% at $5.53 on the last check Friday.
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