Nothing will change for the time being, but Polestar plans to move car production to Europe in the not-too-distant future. The company's CEO has verified this, providing a timeline for when it would occur.
Polestar has quickly and successfully established a dominant market position. The planning and execution of its introduction, promotion, and dissemination of information have paid off. Throughout the world, consumers are discovering the quality and affordability of the Swedish company's wares. However, Geely's headquarters and most factories are still located in China. While the Asian nation will retain sole production control for the foreseeable future, Polestar's CEO has said that the company is considering relocating to Europe. Thomas Ingenlath himself has provided details.
Despite Polestar's widespread recognition as Volvo's electrical brand headquartered in Gothenburg, Sweden, its driving capital originates in China's Geely Group, one of the world's major producers. In addition to Zeekr, Lynk & Co., and Smart, you'll become familiar with other companies thanks to their coverage. Each company markets its wares internationally but manufactures everywhere in China to cut costs. The cost of labor is lower, and delivery times for raw materials are shorter in the country of the rising sun.
However, in a few years, Polestar will increase manufacturing. Since new units will be introduced, the Chinese factories will no longer be able to produce everything alone. Polestar CEO Thomas Ingenlath told Automotive News that the company is looking at Europe as part of a strategy to diversify production and move it to Europe in light of the predicted bottleneck. However, Volvo must also choose a side in such a pivotal choice. The wording has specifically been: "Our main priority is to travel to Europe as soon as possible." Also, that may happen before the production of the Polestar 7 begins.
A lot of information is conveyed in just two lines by Ingenlath. The first is that Polestar is being manufactured in Europe, which is fantastic news because it bodes well for increased manufacturing on the old continent. The second is that, after months of speculation following the announcement of the Polestar 6, Polestar has officially confirmed the release of a seventh model. We can confirm the date of the presentation of the Polestar 7, about which we know little to nothing, but we do know that it will be introduced.
When asked about how the corporation handles time, the CEO stated categorically that European production would not begin for at least another five years. So, assuming everything goes according to plan, we should expect to see the Polestar 7 sometime around 2027. Since the production depends on Volvo and not Polestar, the next stage is determining exactly where to carry it out. The Swedes need to coordinate the manufacturing of their models and include the seventh version of their brothers' models on the assembly line.
Meanwhile, the firm is still focused on a single goal: global expansion. There is a plan to achieve the targeted 290,000 annual units sold by the end of 2025. It took the corporation just over two and a half years to reach the milestone of producing the 100,000th Polestar 2, which was honored this week. With the release of the Polestar 3 electric SUV and the rest of the units still to be unveiled, we can expect to see even more rapid growth for the brand across all regions.
