- Polestar has announced the production start date for its new South Carolina production facility, which it will be sharing with Volvo Cars.
Polestar, the luxury electric vehicle (EV) manufacturer, has announced plans to start production in South Carolina for U.S. and European markets starting in 2024. The company, which was founded by Volvo and Zhejiang Geely Holding Group, currently produces three models from two plants in China and exports them to overseas markets, including the United States.
In an interview at the Shanghai auto show, Polestar CEO Thomas Ingenlath explained that the move to South Carolina will allow the company to expand its production capacity and meet growing demand in the U.S. and European markets. “You need a decent volume,” he said. “Not that many China automakers were exporting.”
Polestar expects to begin production of its Polestar 4 model later this year in China’s Hangzhou Bay, with preorders available in China starting today and all other markets in 2024. The company also plans to expand its outlets in China from 14 to 80 by the end of this year.
Despite a trend of price-cutting among EV manufacturers, Polestar has positioned itself as a premium sportscar company. The company delivered more than 50,000 cars globally in 2022 and aims to sell 80,000 this year, mostly through increased delivery of its Polestar 2 hatchback.