Polestar Publishes Q2 2024 Results: 82% Growth in Global Deliveries
Polestar Automotive Holding UK Limited (PSNY)
Company Research
Source: Business Wire
13,150 cars delivered in Q2 2024, up 82% compared to Q1 202430% improvement in inventory turnover driving working capital reduction with positive impact on cash flowSecured up to USD 300 million in additional external funding in August GOTHENBURG, Sweden--(BUSINESS WIRE)--Polestar (Nasdaq: PSNY), reports its preliminary unaudited financial and operational results for the second quarter ended June 30, 2024.This press release features multimedia. View the full release here: https://www.businesswire.com/news/home/20240829866418/en/(Photo: Business Wire)Deliveries were 13,150 cars, an 82% increase compared to the first quarter, taking global deliveries for the first six months of the year to 20,371, with strong momentum especially in the USA, Sweden, Norway and Germany. At the same time, active management actions improved inventory turnover and reduced the number of cars in stock by approximately 30% when compared to Q4 2023. Cash and cash equivalents were USD 669 million as of June 30
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