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"Although we are currently facing challenges from a slowdown in the pure electric market and price pressure, we will continue to invest in new product development. We currently have plans for Polestar 7 and Polestar 8," said Shen Ziyu, chairman and CEO of Polestar Technologies, on August 16.

On the same day, Polestar's first brand experience center in China was established in Shanghai. Polestar announced that Polestar 7 and Polestar 8 are under planning and are expected to be launched in the next two years. A reporter from the Daily Economic News learned that Polestar plans to launch at least one new or new model every year.

Shen Ziyu revealed that Polestar 3 has recently started production in South Carolina, the United States, and Polestar 4 will also be produced in South Korea in mid-2025.

Reporters learned that the Polestar factory in South Carolina produces cars specifically for the US and European markets, and will complement the production capacity of the Chengdu factory in China.

Polestar, a high-performance electric car brand jointly created by Geely and Volvo, has accelerated its layout in domestic and overseas markets in recent years. Shen Ziyu also said that Polestar is one of the few car companies with the ability to deploy globally and is also a key link in Geely's globalization.

Public data shows that in 2024, Polestar's sales volume will rank among the top five pure electric luxury brands in 15 European countries. So far, Polestar has established 192 retail outlets and 1,149 service points around the world, and plans to enter seven new markets in 2025, including France, the Czech Republic, Slovakia, Hungary, Poland, Thailand and Brazil.

Daily Economic News