Why Polestar Shares Are Surging Today

Polestar Automotive Holding UK PLC PSNY shares are trading higher by around 5% after it reported strong Q2 deliveries. 

The company attained the highest-ever Q2 deliveries, delivering 36% Y/Y to around 15,800 vehicles, with a growth of 73% Y/Y in June.

Overall, in H1, the company witnessed record global deliveries of about 27,900 vehicles.

Polestar disclosed being on track to deliver 60,000-70,000 vehicles in 2023.

"More than 20 permanent Polestar Spaces are planned to open over the coming months, as we expand our footprint and shift from temporary locations into larger facilities that can accommodate our growing line-up. I'm really pleased that the first Polestar 3 display cars will be arriving in our Spaces in the coming weeks," said Thomas Ingenlath, CEO.

The company expects to report Q2 2023 earnings on August 31, 2023.

Last month, the company signed an agreement with Tesla, Inc. TSLA to adopt the new North American Charging Standard (NACS).

Also Read: Polestar Credits Toyota, Tesla For Rebirth Of EVs In 21st Century: 'Next Phase Of The Hero's Journey'

Price Action: PSNY shares are up 5.69% at $4.27 premarket on the last check Thursday.

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