Polestar 4 Begins Manufacturing in China, Global Launch in 2024
【Summary】Polestar has begun production of its Polestar 4 electric crossover in China, with deliveries expected in China by the end of 2023 and internationally in early 2024. The Polestar 4, positioned between the Polestar 2 and Polestar 3, boasts a 102 kWh battery and a range of 373 miles. To avoid tariffs, Polestar plans to produce the Polestar 4 in South Korea for the North American market.
Polestar has officially begun series production of its second all-electric model, the Polestar 4, at the Hangzhou Bay factory in China. Operated by Geely Holding, this factory is where the electric performance brand plans to make the Polestar 4 its mainstream mega-hit.
The first customer deliveries of the Polestar 4 in China are expected to take place before the end of 2023. Following this, the official launch of the Polestar 4 will occur in early 2024 in all current Polestar markets, with international customer deliveries starting next year as well.
The Polestar 4, referred to as an SUV coupé, falls in between the Polestar 2 sedan and the Polestar 3 flagship in terms of size and price. Unveiled at the Shanghai Auto Show in April 2023, the Polestar 4 is equipped with a 102-kilowatt-hour battery pack and promises a driving range of approximately 373 miles (600 km). The first production car, finished in a white color called Snow with the signature "Swedish Gold" details of the Performance Pack, has rolled off the assembly line this week.
Chinese production of the Polestar 4 would result in high tariffs if the vehicle were to be sold in America. However, Polestar has found a solution to this issue by adding additional production at the Renault Korea Motors (RKM) joint-venture plant, which is owned by Polestar's parent company, Renault and Samsung. The Polestar 4s produced in Korea will be sold in North America, thus avoiding the tariff problem. This additional production is expected to begin in the second half of 2025.
In 2024, the Polestar lineup will be expanded with the introduction of the Polestar 3 model. The Polestar 3 will be produced in two locations: China in the first quarter of 2024, and the United States in the summer of 2024. Furthermore, 2024 will be an exciting year for Polestar as the Polestar 5 is also set to be launched, while the Polestar 6 is scheduled for release in 2026.
Thomas Ingenlath, the CEO of Polestar, expressed his excitement about the production of the first Polestar 4, stating, "It stands out in design and performance, a remarkable SUV coupé in many ways." He also highlighted the car's unique features, including a virtual rear window with a world-class digital rear-view mirror. Ingenlath emphasized the importance of the Polestar 4 in the brand's lineup of exclusive performance EVs and praised the company's diversified and asset-light approach, which leverages the expertise of its partners and major shareholder.
These new models play a crucial role in Polestar's updated business plan. The company aims to achieve break-even in 2025 and has set a target annual electric car sales volume of 155,000-165,000 units across its four models.
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