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Polestar Launches Production Of Its First US-Manufactured Electric SUV, Polestar 3, In South Carolina
Polestar (Nasdaq: PSNY) has commenced production of its luxury SUV, Polestar 3, in South Carolina, USA. This marks the first time a Polestar vehicle is being manufactured on two continents. The South Carolina facility will serve customers in the US and Europe, complementing the existing production in Chengdu, China.
In addition to producing Polestar 3 in the USA, Polestar plans to diversify its manufacturing footprint further. Production of Polestar 4 is set to begin in South Korea by mid-2025. This strategic move aims to leverage the competence, flexibility, and scalability of its partners and major shareholders.
Polestar’s CEO, Thomas Ingenlath, stated: "Manufacturing Polestar 3 in the USA is a crucial step for us. Now we offer customers in America an electric SUV that is built in America. Exporting the South Carolina produced Polestar 3 to Europe will strengthen our business on a broader scope." He added that the Polestar 3 has received excellent reviews from global automotive media and has generated strong customer interest for test drives.
The Polestar 3 is designed for the electric age with Scandinavian aesthetics and advanced technology. It features centralized core computing powered by NVIDIA and numerous advanced safety systems. These high-tech components ensure superior driving dynamics and performance.
Customers can book test drives for the Polestar 3 through their local Polestar Space or via the company’s website at https://www.polestar.com/test-drive/booking/.
About Polestar
Polestar is a Swedish electric performance car brand committed to accelerating sustainable mobility through design and technology. Headquartered in Gothenburg, Sweden, its vehicles are available online across 27 markets globally including North America, Europe, and Asia Pacific.
The company aims to have five performance EVs by 2026. The lineup includes Polestar 2 launched in 2019, Polestar 3 introduced in late 2022, and Polestar 4 launching through 2023 into 2024. Future models include Polestar 5 and Polestar 6.
Sustainability Initiatives
The ambitious Polestar 0 project aims to create a truly climate-neutral production car by 2030. This initiative seeks to instill urgency within employees, suppliers, and the automotive industry to address climate change proactively.
The forward-looking statements within this announcement reflect current expectations based on various assumptions and data from third parties. However, these statements are subject to risks and uncertainties that could cause actual results to differ materially from those anticipated.
Polestar acknowledges these risks as outlined in their Form 20-F filed with the U.S. Securities and Exchange Commission. The company assumes no obligation to update any forward-looking statements publicly unless required by law.
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