09:45 AM EDT, 04/11/2024 (MT Newswires) -- Polestar (PSNY) said Thursday that it delivered approximately 7,200 cars in Q1, down from 12,800 cars the previous quarter.

"2024 is a transitional year, as we move from being a one-car brand during the first half of the year, to ramping up deliveries of our two luxury SUVs during the second half," Chief Executive Officer Thomas Ingenlath said in a release. "These two cars will provide the basis for a strong revenue and margin progression during the second half of the year, supporting our 2025 targets."

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