2023-11-11 14:31:51
The diamond brand has announced that its subsidiary in Busan will manufacture the Polestar 4 model from 2025, on behalf of its new ally Geely.
New proof of the honeymoon between Renault and Geely. Thursday evening, the diamond brand announced that the factory of its subsidiary in South Korea, 34% owned by Geely, will be dedicated to the production of electric cars for Polestar, a brand also controlled by the Chinese group, from 2025: the Polestar 4.
Unveiled at the Beijing Motor Show in June, the SUV is, as its name suggests, the fourth model from the all-electric premium brand, jointly owned by Geely and Volvo.
The strategic choice to locate production in Busan offers Polestar the opportunity to target the South Korean market, but especially the American market by avoiding the 27.5% customs duties imposed on the Polestar 2 manufactured in China. The Polestar 4, produced in South Korea, will benefit from the free trade agreement between Seoul and Washington. Additionally, the Renault Korea Motors plant in Busan, with its direct access to the seaport, strengthens the competitive position of the project.
Hub d’exportation
This agreement is part of Renault’s overall strategy to make Busan an export hub for its large D and E segment SUVs. Currently, the site ensures the production of the Arkana, contributing to Renault’s reestablishment in the category of family vehicles in Europe.
The expertise acquired in the production of hybrid models at the Busan plant takes on a new dimension with the assembly of the Polestar 4, becoming the first 100% electric car produced locally. This experience should also benefit Alpine in the near future, as the French group’s sports brand plans to use the Geely platform and the Busan site for the production of two models intended for the American and Asian markets.
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