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Polestar to build its first all-electric SUV in the United States – TechCrunch

Volvo Car Group’s stand-alone electrical performance brand, Polestar, manufactures the first all-electric SUV in the United States.

Automakers said Wednesday that Polestar 3 would be assembled at a plant in Ridgeville, South Carolina, shared with Volvo Cars. The Polestar 3 follows the all-electric Polestar 2 sedan and the hybrid grand tourer Polestar 1. Production of the Polestar 3 is expected to begin worldwide in 2022.

Dennis Nobelius, COO of Polestar, said production in the United States will reduce delivery times, the environmental impact of transporting vehicles around the world, and the price of Polestar 3.

“All of this makes the brand even more competitive in the important American sales market,” says Novellius.

Polestar also plans to open about 25 retail spaces in the United States this year. Here, customers can take advantage of test rides, free pick-up and delivery services, and mobile services.

Manufactured for US customers, the Polestar 3 is the first vehicle manufactured domestically under this brand. The announcement comes two months after Polestar raised $ 550 million in its first external round led by Chongqing Chengxing Equity Investment Fund Partnership, Zibo Financial Holding and Zibo Hightech Industrial Investment. SK Inc, a global conglomerate in South Korea. And various other investors also participated.

Polestar was once a high-performance brand of Volvo Cars. In 2017, the company was recast as an electric performance brand aimed at producing exciting and fun-driving electric vehicles. This is the niche that Tesla has dominated since it was first filled. Polestar is jointly owned by Volvo Car Group and Zhejiang Geely Holding of China. Volvo was acquired by Geely in 2010.

Since its launch, Polestar has opened a manufacturing facility in China, built a global sales and distribution business, and launched two vehicles, the Polestar 1 and the all-electric Polestar 2.

Polestar to build its first all-electric SUV in the United States – TechCrunch Source link Polestar to build its first all-electric SUV in the United States – TechCrunch

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