Polestar CEO Thomas Ingenlath sees gross sales improve tenfold by 2025


How do you deal with the dangers posed by Polestar’s heavy reliance on manufacturing in China, which has strained buying and selling ties with the US?

The image you made is of at the moment. In the long run, we can have US manufacturing in South Carolina, beginning with the Polestar 3. As our lineup grows, we’ll transfer to Europe, as we goal to supply in all three key areas. Therefore, we won’t be depending on China with our manufacturing.

Volvo manufactures the Polestar 1 at a manufacturing unit in Chengdu, China, and the Polestar 2 in Luqiao. Would you take into account assembling the 2 fashions in the identical plant to extend effectivity?

We do not put all our vehicles in a single manufacturing unit as a result of with our enterprise mannequin, we go the place that structure is already in manufacturing. We take into account it useful as a result of it does not matter if the Polestar 3 is in one other manufacturing unit as a result of it isn’t a further funding for us.

If it goes with Volvo’s future electrical flagship SUV in Charleston, that is nice. We simply comply with the place the structure of the automobile is being constructed. We simply should be sure that the expertise we want is applied in that manufacturing unit and that it’s attainable to suit our automobile there.

How a lot of an influence has the chip disaster had on Polestar?

We have some leverage because of the dimension of our firm. Everyone understands that we’re in a essential rising part and we are actually closely depending on one product (Polestar 2). This signifies that we do not need the chance to maneuver between completely different merchandise and crops.

Polestar goals to promote 65,000 vehicles this yr, up from 29,000 in 2021. chip is in hassle Forced you to think about adjusting your objective?

When we set the goal for 2022, we did it holding in thoughts the chip scarcity. So far, we have had no cause to regulate our outlook downwards, however who is aware of how dangerous issues will get.

With Volvo going all-electric, how will the Polestar differentiate itself?

The Polestar vary goals to be sportier and extra targeted on the motive force. Even whether it is an SUV just like the Polestar 3, it is going to have a sleeker silhouette, which means there will probably be much less emphasis on cargo house and extra emphasis on propulsion. It may also have a extra daring design. I’ve at all times mentioned that Volvo should not provoke individuals. It ought to have a really excessive acceptance from each buyer profile. A polestar can be extra progressive and avant-garde; Hence, it won’t be favored by everybody, however it is going to deal with its followers.

How is your strategic plan completely different at the moment? it was while you and your allies had been Forming an organization?

When we began planning, the US was mainly nowhere by way of EVs, and out of the blue it has grown right into a market with widespread acceptance. Since we deliberate to be within the US from our inception, we are able to in a short time adapt to vary, which has allowed us to develop quickly from 4 Polestar house to 25.

In Europe, the primary seven markets we chosen are taking part very nicely within the sturdy EV development there. And once we began, China was not that far forward of different markets by way of premium electrical vehicles.

America has been a nice shock for Polestar. Has this modified your advertising,

Our outlook within the US has modified quite a bit, the largest indication of how a lot has come within the autumn of 2021 once we transitioned our promoting to a nationwide unfold. Earlier it was at all times targeted on areas the place we had seen or anticipated increased uptake of EVs. This reveals that EVs is now not a regional or native theme within the US, it has a wider attain and attraction.

Volvo desires half of all international gross sales to go surfing by 2025. Polestar already makes use of the online for all gross sales. How many of those are literally on-line, and what number is completed at considered one of your Pollstar areas or pop-up shops?

It can be a really strict separation between the 2, however that was by no means our thought. What we do know is that the check drive is a vital factor for everybody. Therefore, it’s a provided that it’s essential present the client with the chance to make some contact with the product. This largely occurs in polestar house.

We additionally discovered that the majority prospects don’t have any downside doing financing and different points of the deal on their cell machine. If they want extra assist, they will get it by on-line chat or by visiting the Pollstar house. Instances by which a buyer does all the things, together with shopping for or leasing a automobile at Polestar Space, are exceedingly uncommon.

Will your most city showroom retail mannequin be modified as soon as the Polestar 3 arrives?

This is already taking place. Last yr within the US, we went from 4 to 25 Polestars into house. This will definitely speed up with the rise in volumes that may include the arrival of Polestar 3. This is occurring in all of the nations the place we’re lively as we transfer from massive capitals to the following wave of locations.

Are you seeing an indication that curiosity in EVs is increasing past the key cities the place Polestar is lively?

Yes. One instance displaying that EVs are gaining broad acceptance was this summer season once we opened a pop-up charging station as a promotional occasion. We determined to make it midway between Stockholm and Gothenburg.

On the primary day we opened, all check drives had been taken. These had been seashore locals who would by no means have been to Stockholm and Gothenburg for a check drive, however once we got here to them they had been more than pleased to strive the EV out.

This clearly gave a sign to me that there’s a sure set of consumers who will probably be open to the model as soon as it will get nearer.

Polestar has numerous work to do to succeed in its 2025 objective, proper?

Yes. By then we need to transfer as much as 290,000. It may be very clear that quite a bit has to occur over the following few years to realize such volumes. We will increase to extra markets and improve the dimensions of our lineup by including Polestar 3, 4 and 5. This will give us a product portfolio with two SUVs (Polestar 3 and 4) and two fastback sedans (Polestar 2 and 5). ,

Will assist us swap from combustion engines to electrification. I feel it is going to proceed to develop, resulting in a snowball impact. The extra EVs which are pushed round, the extra individuals will probably be uncovered to them and the extra developed the infrastructure will probably be. This can be an excellent dynamic on this space.


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