Polestar to start production in South Carolina from 2024, says CEO
Premium electric vehicle (EV) maker Polestar will start production in South Carolina for U.S. and European markets from 2024, Chief Executive Thomas Ingenlath told Reuters at the Shanghai auto show on Tuesday.
Polestar, founded by Volvo (VOLCARb.ST) and Zhejiang Geely Holding Group (GEELY.UL), has been producing its existing three models from a plant in China’s southwestern city of Chengdu and another in the eastern coastal city of Taizhou.
It has been exporting the China-made vehicles to overseas markets, including the United States.
“We have an opportunity to go to South Carolina with Polestar 3. The new EV brands that are building up, they can’t go out immediately to build factories there. You need a decent volume,” Ingenlath said in an interview.
Not that many China automakers were exporting, he added.
Speaking earlier at the auto show, Ingenlath said the company expects production of its Polestar 4 to begin later this year in China’s Hangzhou Bay.
This report’s information was first seen on REUTERS; to read more, click this link.