Polestar announced plans to produce the ‘electric SUV coupe Polestar 4’ at its Hangzhou Bay manufacturing facility starting in the second half of 2025, as part of a strategy for diversifying its manufacturing bases.
Polestar, Geely Group, and Renault Korea Automotive have reached an agreement to produce the Polestar 4 for export to North America and the domestic market at Renault Korea’s Busan plant. This facility possesses 23 years of vehicle manufacturing experience and approximately 2,000 skilled employees, as well as geographical advantages that connect it directly to export ports.
Polestar has adopted an asset-light operational model that leverages the capabilities, flexibility, and scalability of partners and key shareholders rather than investing in its own facilities during the development and manufacturing processes.
Thomas Ingenlath, CEO of Polestar, stated, “We are very pleased to diversify our vehicle production bases in collaboration with Geely Group and Renault Korea, who prioritize quality and sustainability.” He added, “Polestar will achieve its global growth targets with three production bases in three countries—starting with the production of Polestar 3 in Chengdu, China, in early 2024, and in South Carolina, USA, in summer 2024, and culminating in Busan, South Korea, in 2025.”
Stéphane Develay, CEO of Renault Korea, expressed, “The Polestar 4 will be the first electric SUV produced at the Busan plant, symbolizing Renault Korea’s new launch and future vision. We are proud of this new partnership and are grateful for the trust in the Polestar brand.” He further anticipated that under the strong backing of our shareholders, Renault Group and Geely Group, Renault Korea would be able to create more business opportunities in the near future.
The Polestar 4 is the second SUV in the Polestar lineup, first unveiled at the 2023 Shanghai Auto Show. It reflects design elements first showcased in Polestar’s concept car and is the fastest production model among Polestar vehicles to date. The Polestar 4 is positioned between the Polestar 2 and Polestar 3 in terms of size and price.
Lee Sang-jin daedusj@autodiary.kr