Polestar, the electric car arm of the Swedish carmaker Volvo, is gearing up for a full-scale assault on the electric car market. Polestar is a subsidiary of Volvo cars, which itself is owned by the cash stacked Zhejiang Geely of China. A fact that is worth mentioning because – it is a kind of an advantage that Tesla didn’t have. Polestar has opened its first European dealership – what they refer to as “Polestar Space” in Norway – which pops a question – Why Norway and not any other European country?
That’s because Norway has the highest number of electric car sales more than anywhere else in the world. Almost 50% of all the cars sold in 2019 are expected to be battery-powered. In addition, the country is tipping to ban all cars that are non-zero emission by the year 2025. So, in all Norway seems a good launchpad for any electric car company. The Assault only begins from Norway. Plans are on to expand its presence to other strong gasoline-car friendly markets such as Germany, Sweden, Belgium, The U.K and The Netherlands.
Polestar 2 – the company’s first all-electric model will be the only car to directly rival the Tesla Model 3 in terms of price and propotion. Polestar also draws in from Tesla’s experience in Europe which shows that customers are willing to go fully electric. Thomas Ingenlath, Polestar CEO, has some ambitious sales targets for the brand and hopes to hit the 100,000 car per year mark soon.
European markets apart, Polestar aims to hit the US market with a focus on “Heavy presence” on the West coast. The sales in the US might take a hit due to the high tariffs for automobiles made in China (at 27.5%), but they expect the situation to change really soon.
Though no Volvo showrooms are involved in this proposition, Volvo dealers are involved in providing the service to Polestar’s cars.
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