The move transforms Polestar into a truly global brand with an industrial capacity in the two largest single markets for electric vehicles in the world – the USA and China – alongside its headquarters and established sales and distribution capabilities in Europe.
“Polestar 3 will be built in America, for our American customers,” says Thomas Ingenlath, Polestar’s Chief Executive Officer. “I remember the great response when I first shared Polestar’s vision here in the USA and I am proud that our first SUV will be manufactured in South Carolina. From now on, the USA is no longer an export market but a home market.”
The manufacturing announcement also underlines Polestar’s commitment to the American retail market, which is undergoing a period of rapid expansion.
Polestar will open around 25 retail ‘Spaces’ across the country in 2021. The Spaces offer customer conveniences such as home test drives, free pick-up and delivery servicing, and mobile service for consumers in markets still awaiting the opening of a Polestar Space.
Polestar was launched in 2017 by Volvo Cars and Geely Holding. The Ridgeville plant was opened in 2018 by Volvo Cars. Polestar’s ability to share a production facility with Volvo Cars highlights the significant industrial and financial synergies it generates as result of its ownership structure.
“Production in the USA reduces delivery times as well as the environmental impact associated with shipping vehicles around the world. It will even have a positive impact on the price of Polestar 3,” says Dennis Nobelius, Chief Operating Officer at Polestar. “All of this makes the brand even more competitive in the critical American sales market.”
Polestar 3 will debut the new generation of electric vehicle architecture from Volvo Car Group, which has been designed from scratch for full electrification. The aerodynamic electric performance SUV will feature industry-leading connectivity features based on Google’s native Android Automotive OS infotainment system, as well as high-end, safety-focused autonomous driving features. Production of Polestar 3 is expected to begin globally in 2022. Full product details will be made available at a later date.
The news of the expansion of Polestar’s manufacturing footprint follows the recent announcement that the company raised USD$550 million from a group of long-term external investors in April. The company has confirmed that it will explore potential future funding opportunities.
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Polestar is the independent Swedish premium electric performance car brand founded by Volvo Cars and Geely Holding. Established in 2017, Polestar enjoys specific technological and engineering synergies with Volvo Cars and benefits from significant economies of scale as a result. The company is headquartered in Gothenburg, Sweden, and its vehicles are available and on the road in ten global markets across Europe, North America, and China. In 2021, Polestar is expanding into eight new markets across Europe and Asia Pacific.
Polestar produces two electric performance cars. Polestar 1 is a low-volume electric performance hybrid GT with a carbon fiber body, 619 hp, 738 lb-ft of torque, and an MPGe of 60 miles – the longest of any hybrid car in the world. The Polestar 2 electric performance fastback is the company’s first fully electric, high volume car. The Polestar 2 model range includes two variants featuring a 78 kWh battery paired with a dual- and single motor powertrains. The Polestar 2 long range dual-motor has an output of 408 hp and 487 lb-ft of torque.
In the future, the Polestar 3 electric performance SUV will join the portfolio, as well as the Precept – a design study vehicle released in 2020 that is slated for future production. Precept showcases the brand’s future vision in terms of sustainability, digital technology and design.