Polestar EVs in South Carolina: Polestar to Expand Production to South Carolina for U.S. and European Markets from 2024
Renowned electric vehicle brand, Polestar, intends to bring its high-performance, sustainably-designed Polestar EVs in South Carolina. The company is expanding its manufacturing strategy with the announcement of a new production facility in South Carolina. The move is part of the company’s goal to increase production for both the US and European markets starting in 2024.
Polestar’s Expansion Plans and Manufacturing Strategy
Polestar, which was founded by Volvo and Zhejiang Geely Holding Group, currently produces its three existing models in China. However, with a growing demand for EVs in the US and Europe, the company sees an opportunity to establish a foothold in South Carolina.
Polestar EVs in South Carolina: Production and Outlet Expansion
According to Polestar CEO, Thomas Ingenlath,”the new EV brands that are building up, they can’t go out immediately to build factories there. You need a decent volume.” He added that “not that many China automakers were exporting” to the US and Europe, indicating the potential for Polestar to capture market share in these regions.
Polestar has already seen significant success with its existing models, delivering more than 50,000 cars globally in 2022. To build on this momentum, the company aims to sell 80,000 cars this year, primarily through the delivery of its Polestar 2 hatchback.
In addition to the South Carolina production facility, Polestar is also expanding its outlet network in China. The company aims to increase its outlets from 14 to 80 by the end of this year. This decision indicates its commitment to growth in the Chinese market.
Polestar’s Premium Approach to EV Manufacturing
Despite the trend of price-cutting among EV manufacturers, Polestar has remained committed to its premium approach to manufacturing. According to Ingenlath company’s aim is to become “a very premium sportscar company”, setting it apart from other EV makers.
As Polestar prepares for its expansion into new markets, the company’s commitment to quality and innovation promises a leading position in the world of EVs.