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china is the world's largest electric vehicle market and a battleground for polestar's long-term development. although polestar motor's performance in the chinese market is slightly weak in the first half of 2024, polestar technology coo qin peiji is optimistic about the future development of the brand.

"currently, our top priority is to build sales confidence, because we not only have to focus on brand and quality, but also on spiritual appeal." on august 16 this year, polestar opened its first brand experience center in the country - polestar shanghai experience center at the opening ceremony, qin peiji, chief operating officer of polestar technology, emphasized.

with the transfer of qin peiji, polestar's development in the chinese automobile market is gradually improving. he emphasized that polestar, as an independent electric high-performance vehicle brand, has strong strength and huge development potential.

since the disclosure of its second quarter 2024 financial report, polestar's stock price has performed strongly, showing an upward trend for many consecutive days, with the highest increase reaching 37.12%. this market performance reflects investors’ firm confidence in polestar’s future development.

at the same time, polestar is also actively taking a number of strategic measures, from management adjustments to the establishment of offline channels, just to better understand and meet consumer needs.

building sales confidence is a top priority

with a transfer order on june 6 this year, qin peiji, a strong man in the automotive industry with 12 years of working experience in volvo, officially served as the chief operating officer of polestar technology, responsible for polestar's sales, channel development and marketing business sectors.

afterwards, qinpeji quickly started to "focus" on his areas of expertise. it is understood that polestar technology has invested heavily in brands and channels, and is mentally prepared for a long-term battle. qinpeiji said that cultivating the confidence of sales staff and promoting their understanding of the brand concept are the next tasks we will spend our efforts to solve.

in addition, as soon as qinpeji took office, polestar technology soon ushered in two "major events." the opening of polestar shanghai experience center and the title of chengdu tianfu international circuit, and the curve was officially named "polestar curve".

public information shows that the opening of polestar shanghai experience center is polestar’s pragmatic exploration of localization strategy in the chinese market.

according to the official introduction, polestar shanghai experience center covers an area of ​​about 3,000 square meters. it is a multi-functional innovative space that integrates vehicle display, tasting, car purchase and delivery, and after-sales maintenance services. consumers can taste polestar 3, models such as polestar 4 and polestar synergy can also enjoy repair and maintenance services exclusive to "star reachers".

“the shanghai experience center is a new window for polestar to showcase its brand charm and product strength to chinese consumers. it also marks polestar’s determination and confidence to continue to deepen its presence in the chinese local market and better serve chinese consumers. " said li donghui, ceo of geely holding group.

on september 23, polestar announced that it would be naming the chengdu tianfu international circuit and officially named this corner "polestar curve". on the same day, polestar invited many professional celebrities to drive the star models polestar 1, polestar 2, and polestar 4 to challenge the "polestar corner" on the spot to fully verify the pure driving control capabilities of the products.

it is worth mentioning that in this challenge, the measured cornering g value of polestar 4 was as high as 1.51g, exceeding the official calibration of 1.49g. it perfectly demonstrated the brand's pure driving control concept and demonstrated the "king of corners" extraordinary charm.

shen ziyu, chairman and ceo of polestar technology, once said frankly, "we have a clear understanding of the current situation and development timing of the polestar brand in the chinese market, and we also know that this will definitely take time." therefore, whether it is the establishment of offline channels, or naming is essentially to showcase the charm of the polestar brand, demonstrate the strength of the product, and attract more potential consumers.

make up for shortcomings steadily and steadily

polestar was born out of volvo cars' high-performance department and announced in 2017 that it would become an independent high-performance luxury brand. shen ziyu once said that jiexing is a brand with "old stores newly opened", with both advantages and disadvantages. the advantage is the original design and quality system of the global brand, and it has a firm foothold in the european and american markets; the shortcoming in china is that it needs to be deeply aware of intelligence, local models, three-electric systems, and products and configurations that are more suitable for user needs in the future. . "

therefore, polestar is working steadily and through multi-party cooperation to make up for its shortcomings. especially backed by the towering tree of geely, geely holding’s rich brand portfolio makes technology sharing feasible. the spa2 global platform, mature three-electric technology and intelligent technology all provide opportunities for the development of polestar. a solid foundation.

in 2023, polestar and xingji meizu jointly established a strategic joint venture, polestar technology, integrating polestar's advantages in design and product performance with xingji meizu's forward-looking layout in software and consumer electronic hardware development.

based on interstellar meizu’s rich experience in the field of car-machine mobile phone operation, polestar products have excellent performance in smart cockpits. the interoperability of cars, machines and mobile phones further enriches and facilitates car owners’ car experience, and also caters to the current needs of china’s consumer car needs.

for the global market, polestar 3 and polestar 4 were successfully launched last year, and two new cars, polestar 7 and polestar 8, are under active preparation. in the future, the chinese team may lead the product definition of these two models, and we hope to make them more relevant. meet the needs of local consumers. shen ziyu revealed. it is understood that polestar has previously launched a customized model service, allowing consumers to freely choose configurations according to their personal needs, further enhancing the flexibility of the market.

on the other hand, as a luxury brand born globally, polestar is also constantly expanding into the global market. so far, polestar has established 192 retail points and 1,149 service points around the world, and plans to enter seven new markets in 2025, expanding the global market to 34 countries and regions. at the same time, polestar has established multiple factories in the united states, south korea and china, which also provides strong support for the brand's global layout.

according to official data, polestar is not only the top-selling brand exported to the united states, but also ranks second among china's auto brands exported to europe in 2023. since 2024, polestar’s sales in 15 european countries have ranked among the top five pure electric luxury brands. currently, polestar’s global cumulative sales have exceeded 200,000 vehicles.

what is worth looking forward to is that michael lohscheller will serve as ceo of polestar starting from october 1 this year. lohscheller has extensive experience in the automotive industry and has served as ceo of companies such as opel, vinfast and nikola. his joining will bring new perspectives and strategic thinking to polestar, driving the company to a new stage of development.

in addition, polestar received additional external financing of up to us$300 million in august. polestar is optimistic about its performance in the second half of 2024, especially with the expected sales growth of its two high-end suvs. it is expected that its performance in the fourth quarter will be more outstanding. with the gradual implementation of more strategic initiatives in the future, polestar is expected to occupy a more favorable position in the highly competitive automobile market and bring more surprises to investors and users.