:Polestar Automotive Holding said on Thursday it nearly doubled revenue for the first six months of the year as demand soared for the Swedish company's electric vehicles.
As countries target net-zero carbon emissions and gas prices rise, demand for electric vehicles has surged and EV makers have been scrambling to increase production amid supply chain bottlenecks and rising costs of components and battery materials. The company reported a revenue of $1.04 billion for the six months ended June 30 compared with $534.8 million a year earlier.Deliveries by the Swedish EV maker, founded by China's Geely and Volvo Cars , rose almost 125 per cent to about 21,200 cars in the first six months of the year, up from 9,510 a year earlier.
The company said deliveries will be weighted towards the fourth quarter due to COVID-19 disruptions in China and reaffirmed its full-year target of 50,000 deliveries.
Source: News Formal (newsformal.com)
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