Press release

GOTHENBURG, SWEDEN – 14 August 2024. Polestar (Nasdaq: PSNY) announces that production of its luxury SUV, Polestar 3, has started in South Carolina, USA. This makes the Polestar 3 the first Polestar to be produced on two continents.

The factory in South Carolina produces cars for customers in the US and Europe, complementing existing production in Chengdu, China.

Thomas Ingenlath, Polestar’s CEO, comments:

“Manufacturing Polestar 3 in the USA is a crucial step for us. Now we offer customers in America an electric SUV that is built in America. Exporting the South Carolina produced Polestar 3 to Europe will strengthen our business on a broader scope. Polestar 3 has received superb reviews from global automotive media, with strong customer test drive interest.”

“I strongly believe this is the best looking and best driving SUV in the market today.”

The Company is also taking additional steps to diversify its wider manufacturing footprint, with production of Polestar 4 set to start in South Korea from the middle of 2025.

Polestar’s asset-light approach to development and manufacturing enables it to benefit from the competence, flexibility and scalability of its partners and major shareholders.

Polestar 3 is the performance SUV for the electric age, combining Scandinavian design, cutting edge technology and excellent driving dynamics. It features the latest in high-tech components – like centralized core computing powered by NVIDIA and a long list of advanced safety systems.

Test drives of the Polestar 3 can be booked from your local Polestar Space or via https://www.polestar.com/test-drive/booking/.