Polestar Automotive Holding UK PLC, often referred to simply as Polestar, is a Swedish automotive manufacturer specializing in electric vehicles. Founded in 2017 and headquartered in Torslanda, Sweden, Polestar aims to combine performance with cutting-edge technology and design, positioning itself as a key player in the transition towards sustainable mobility [2][9]. The company has a presence in 28 markets across North America, Europe, and Asia Pacific [9].
Overview#
Polestar operates as a design-focused electric performance car brand [9]. Its primary focus is the development, manufacturing, and sales of electric vehicles. Polestar sets itself apart through a commitment to refined performance, innovative technology, and minimalist design [4][9]. The company targets customers who value sustainability, design, and a premium driving experience. Polestar aims to accelerate the shift toward a sustainable future by offering high-performance EVs that reduce environmental impact [9].History#
The Polestar brand has roots dating back to 1996 when Jan "Flash" Nilsson founded Flash Engineering, a racing team [13]. This team later became Polestar Racing, focusing on enhancing Volvo vehicles for racing [2][13]. In 2015, Volvo Cars acquired Polestar, transforming it into their performance arm [2].In 2017, Polestar was established as a standalone electric car brand, jointly owned by Volvo Cars and Geely Holding [2]. This strategic move allowed Polestar to focus exclusively on developing and producing electric vehicles [2]. The first car released under the Polestar name was the Polestar 1, a hybrid performance car, which served as a bridge between Polestar's performance heritage and its electric future [1]. The Polestar 2, a fully electric fastback, followed and became the company's first mass-produced EV [1].
Products and Services#
Polestar offers a range of electric vehicles, including:* Polestar 2: A fully electric fastback, offering a combination of performance, design, and practicality [1].
* Polestar 3: An all-electric performance SUV, combining sporty driving dynamics with the space and versatility of an SUV [1][3]. It has a range of up to 635 km, can accelerate from 0-100 km/h in 3.9 seconds and has power up to 500kW [3].
* Polestar 4: An electric SUV coupé that blends coupé aerodynamics with SUV spaciousness [1][11]. It has a range of up to 385 miles, can accelerate from 0-60 mph in 3.7 seconds and has power up to 536 bhp [11].
* Polestar 5: A pure performance GT, merging the characteristics of a sports car and a Grand Tourer [7]. It has a range of up to 678 km, can accelerate from 0-100 km/h in 3.2 seconds and has power up to 650 kW [7].
Planned future models include the Polestar 6 roadster and the Polestar 7 compact SUV [9]. Additionally, Polestar provides accessories and merchandise through its "Additionals" line, including clothing, art prints, scale models, and books [8].
Business Operations#
Revenue Model and Pricing: Polestar generates revenue primarily through the sale of its electric vehicles. The company also offers leasing options [1]. Pricing varies depending on the model and configuration. As an example, the Polestar 4 has a lease option from $599/month [1].Key Financial Metrics: In 2023, Polestar reported revenue of US$2.38 billion, an operating income of -US$1.46 billion, and a net income of -US$1.17 billion [2]. The company's total assets in 2023 were US$4.13 billion, with a total equity of US$1.25 billion [2].
Employees and Locations: As of December 2022, Polestar had 2,377 employees [2]. The company is headquartered in Torslanda, Sweden, with an operational headquarters in Bristol, England [2]. Polestar vehicles are available in 28 markets globally, across North America, Europe, and Asia Pacific, with manufacturing on two continents [9].
Technology and Infrastructure: Polestar vehicles incorporate advanced technology, including Google built-in for controlling apps and car functions via voice [3][11]. The Polestar 3 features an 800V architecture, enabling charging up to 350 kW at compatible charging stations [3].