Polestar has officially confirmed its plans to broaden the manufacturing base for the Polestar 4 model, now including Busan, South Korea, in addition to its existing facility in Hangzhou Bay, China. The extension of manufacturing operations is scheduled to commence in the second half of 2025.
A collaborative agreement has been established among Polestar, Geely Holding, and Renault Korea Motors (RKM) to facilitate the contract manufacturing of Polestar 4 vehicles, catering to both the North American and domestic South Korean markets at RKM's Busan plant.
The Busan plant, strategically located with direct access to exporting ports, brings with it 23 years of experience in vehicle manufacturing and a workforce of approximately 2,000 employees. The facility is committed to sustainability, with an aim to reduce CO2 emissions by 50% by 2030 and achieve carbon neutrality by 2040 through a combination of energy efficiency improvements and the adoption of renewable energy sources.
Polestar's approach to development and manufacturing, characterized as asset-light, allows the company to leverage the capabilities, flexibility, and scalability of its partners and major shareholders, eliminating the necessity for substantial investments in its own facilities.
Thomas Ingenlath, Polestar CEO, expressed satisfaction with the expansion, stating, “We're pleased to take the next step in diversifying our manufacturing footprint alongside Geely Holding and Renault Korea Motors, a company that shares our focus on quality and sustainability.” He highlighted ongoing manufacturing operations, with Polestar 3 already in production in Chengdu, China, and slated for production in South Carolina, USA, in the summer of 2024, supporting the company's global growth ambitions.
Stéphane Deblaise, CEO of Renault Korea Motors, emphasized the significance of the partnership, noting, “Polestar 4 will be the first full battery electric vehicle produced in the Busan plant, symbolizing Renault Korea Motors' renewal and our ambitious vision for the future.” He expressed gratitude to the Polestar brand for their trust and hinted at potential future opportunities for Renault Korea Motors.
The Polestar 4, unveiled at the Shanghai Auto Show in April 2023, represents the brand's second SUV model. Positioned between Polestar 2 and Polestar 3 in terms of size and price, the SUV coupé incorporates design cues from Polestar's concept cars and holds the distinction of being the fastest Polestar production car to date.