Initially, called Polestar, “charged” versions of Volvo models were produced. In 2017, Polestar was allocated into a separate brand of electrical machines – it belongs to Volvo Cars, PSD Investment and Geely Holding. However, the company’s affairs are going on, in 2023, Polestar did not fulfill the sales plan, it was called “Brake for Volvo” and there were rumors that the Swedish automaker could refuse to financing it. Now the Chinese media reports that Polestar is reduced in China and can leave the local market.
Polestar sales in China have been declining since 2021. The only model of the brand that until recently was produced in the country at the factory in Hangzhou was Polestar 4, but in the spring of 2024 it was turned off. Carnewschina, citing Autohome, writes that Polestar is currently in the process of restructuring its Chinese business: the headquarters of the Polestar Technology in Nanjing is held in the departure (it is planned to dismiss 50 people), and the Polestar China representative, based in Shanghai, remained only A small team that is engaged only in after -sales service.
Polestar 2, 3 and 4 acquired a “rally” version of Polestar prepares a competitor of an electric Porsche Macan Polestar made special versions of Volvo for Germany
From this, local journalists concluded that Polestar in the foreseeable future may turn off the sales of new cars in China. Now the brand sells three models on the local market, this is Polestar 2, 3 and 4.
It is known that the company transfers production to South Korea – there, at the end of 2025, the production of Polestar 4 will begin. The future Polestar 7, in turn, will be released in Europe.
Despite all this, the automaker himself states that the Polestar Technology, a joint venture created in 2023 Polestar Automotive and the manufacturer of MEIZU smartphones, “currently works in normal mode.” Restructuring is also needed in order to “better adapt to changes in the market and increase business efficiency.” The company assured that she, and shareholders, and a partner in the person of Meizu are “interested in the development of the Polestar brand in China”.
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