Swedish electric performance car brand Polestar has officially confirmed its expansion in manufacturing, diversifying its footprint for the Polestar 4. Production in Hangzhou Bay, China, will be supplemented by manufacturing in Busan, South Korea, scheduled to commence in the second half of 2025.
Polestar, in collaboration with Geely Holding and Renault Korea Motors (RKM), has established an agreement for the contract manufacturing of Polestar 4 vehicles destined for the North American and domestic South Korean markets at RKM’s Busan plant.
The Busan facility, strategically located with direct access to export ports, boasts 23 years of vehicle manufacturing experience and approximately 2,000 employees. With a commitment to environmental sustainability, the Busan plant aims to reduce its CO2 emissions by 50% by 2030 and achieve carbon neutrality by 2040 through energy efficiency enhancements and the adoption of renewable energy sources.
Polestar’s asset-light approach to development and manufacturing allows the brand to leverage the capabilities, flexibility, and scalability of its partners and major shareholders without the need for substantial investments in its own facilities.
Thomas Ingenlath, Polestar CEO, expressed satisfaction with the expansion, emphasizing the brand’s commitment to quality and sustainability. He highlighted the ongoing production plans for Polestar 3 in Chengdu, China, starting in early 2024, and in South Carolina, USA, by the summer of 2024, establishing manufacturing operations in five factories across three countries.
Stéphane Deblaise, CEO of Renault Korea Motors, noted that the Polestar 4 represents a significant milestone for the Busan plant as the first fully battery electric vehicle to be produced there, reflecting the company’s renewal and future vision. He expressed pride in the new partnership with Polestar and identified additional opportunities for Renault Korea Motors in the future, thanks to strong support from shareholders Renault Group and Geely Group.
Polestar 4, unveiled at the Shanghai Auto Show in April 2023, is an SUV coupé positioned between Polestar 2 and Polestar 3 in terms of size and price. It incorporates design elements from Polestar’s concept cars and holds the distinction of being the fastest Polestar production car to date.
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