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Polestar UK Sets Bold Expansion Plans With Innovative Sales Model And Retail Growth
Polestar UK is evolving its sales model and expanding its retail presence in response to its rapid growth in the UK, where over 30,000 Polestar vehicles are now on the roads. This expansion coincides with the introduction of two new luxury electric SUVs, the Polestar 3 and Polestar 4.
Matt Galvin, Managing Director of Polestar UK, stated: "Expanding our retail operations with new and existing partners will enable us to reach more customers. Through these partnerships and expansion, we will capitalise on our strong brand and growing model line-up." The UK is among the first European markets where Polestar is transitioning to a non-genuine sales model, aligning with its strengthened business plan aimed at achieving profitable growth next year.
Currently, Polestar performance EVs are available from one of the nine Spaces across the UK. Customers can still configure and order their Polestar online or through the expanding network of Polestar Spaces, making it easier for more customers to buy and own a Polestar. Galvin added: "We have delivered more than 30,000 Polestar 2 electric fastbacks to our UK customers since we launched in 2020. The development of our sales model and expansion of our retail footprint is a natural step to continue building upon the strong Polestar brand position particularly with deliveries of our two new luxury electric SUVs Polestar 3 and Polestar 4 starting."
Globally, Polestar has delivered over 160,000 vehicles to customers in 27 markets. The company plans to accelerate its global expansion by entering seven new markets during 2025. These markets include France, Czech Republic, Slovakia, Hungary, Poland, Thailand, and Brazil through local distribution partnerships.
John O’Hanlon, CEO of retailer group Waylands which operates Polestar’s Bristol Space said: "The new agreement between Waylands and Polestar will allow us to enhance the engagement with existing and future Polestar customers and will help us manage the customer journey in much more detail. I am really looking forward to adopting this strategy with Polestar 3 and 4 arriving this month."
Future Product Line-Up
Polestar aims to have a line-up of five performance EVs by 2026. The current models include the Polestar 2 electric fastback launched in 2019; the SUV for the electric age, Polestar 3 launched in late 2022; and the SUV coupé transformed as Polestar 4 launching through phases into 2024. Upcoming models include the electric four-door GT, Polestar 5, and an electric roadster named Polestar 6.
The company is also committed to sustainability through its ambitious goal of creating a climate-neutral production car by 2030 under the "Polestar 0 project." This initiative aims to instill urgency in addressing climate change by challenging employees, suppliers, and the wider automotive industry towards zero emissions.
Polestar UK's bold expansion programme includes increasing its Spaces from nine to seventeen within the next eighteen months. This move supports its product roll-out over upcoming years.
This press release contains forward-looking statements within the meaning of Private Securities Litigation Reform Act of 1995. Such statements are based on current expectations and assumptions but are subject to risks that may cause actual results to differ materially from those expressed or implied by these statements.
The information provided reflects current plans but may change due to various factors including market conditions or regulatory changes.
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