Categories
Business

Volvo will create a new Polestar 3 electric SUV in South Carolina

Swedish carmaker Volvo plans to create another superior SUV for its electric Polestar brand at a plant in Charleston, South Carolina, the organization said Wednesday.

It will be the main vehicle created locally for Polestar, which was shaped in 2017 by Volvo Cars and its China-based parent organization, Geely Holding Group. It likewise is relied upon to be one of the primary electric vehicles, if not the first, delivered by Volvo in the U.S.

Polestar CEO Thomas Ingenlath said the new Polestar 3 SUV will “totally” be the new leader for the brand as it extends its setup and retail network in the U.S.

“It will be a big milestone for our brand,” he told CNBC during an interview. “The expression of the car will be so much Polestar and show where our brand is going in the future ahead.”

Volvo is contributing $118 million for creation of the Polestar 3 at the South Carolina plant. The vehicle is relied upon to go into creation in 2022. It will have a similar stage as the cutting edge Volvo XC90, which additionally will be created at the plant.

Polestar is extraordinary, as it’s an electric-vehicle brand from a set up automaker, as opposed to another EV fire up or a conventional auto brand adding EVs to its setup. Such a design permits Polestar to move rapidly while having the assets of a set up automaker to depend on when required, as indicated by Ingenlath.

In April, Polestar reported that it had raised $550 million from a gathering of long haul outer financial backers and that more gathering pledges was a chance.

Polestar as of now works in 13 nations, with plans to sell a huge number of vehicles worldwide.