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Polestar launched this teaser picture on June 16, 2021 of its upcoming Polestar 3 EV SUV, which shall be produced by Volvo at a plant in South Carolina.
Polestar
Swedish carmaker Volvo plans to supply a brand new premium SUV for its electrical Polestar model at a plant in Charleston, South Carolina, the corporate stated Wednesday.
It will likely be the primary automobile produced domestically for Polestar, which was fashioned in 2017 by Volvo Vehicles and its China-based father or mother firm, Geely Holding Group. It additionally is predicted to be one of many first electrical automobiles, if not the primary, produced by Volvo within the U.S.
Polestar CEO Thomas Ingenlath stated the brand new Polestar 3 SUV will “completely” be the brand new flagship for the model because it expands its lineup and retail community within the U.S.
“It will likely be an enormous milestone for our model,” he instructed CNBC throughout an interview. “The expression of the automobile shall be a lot Polestar and present the place our model goes sooner or later forward.”
Staff assembling elements of a Volvo AB S60 sedan on the Volvo Vehicles USA plant in Ridgeville, South Carolina, U.S., on Wednesday, June 20, 2018.
Logan Cyrus | Bloomberg | Getty Photos
Volvo is investing $118 million for manufacturing of the Polestar 3 on the South Carolina plant. The automobile is predicted to enter manufacturing in 2022. It would have the identical platform because the next-generation Volvo XC90, which additionally shall be produced on the plant.
Polestar is exclusive, because it’s an electric-vehicle model from a longtime automaker, quite than a brand new EV start-up or a conventional automotive model including EVs to its lineup. Such a construction permits Polestar to maneuver shortly whereas having the assets of a longtime automaker to depend on when wanted, based on Ingenlath.
In April, Polestar introduced that it had raised $550 million from a gaggle of long-term exterior buyers and that extra fundraising was a risk.
Polestar at the moment operates in 13 international locations, with plans to promote tens of 1000’s of automobiles globally.
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