Polestar is a pure play, premium electric performance car brand headquartered in Sweden, designing products that are engineered to excite consumers and drive change.
Polestar is a pure play, premium electric performance car brand headquartered in Sweden, designing products that are engineered to excite consumers and drive change. Polestar was established as a premium electric car brand and joint venture between Volvo Cars and Geely Holdings in 2017. We benefit from the technological, engineering and manufacturing capabilities of these established global car manufacturers. We have an asset-light, highly scalable business model with immediate operating leverage. In 2021, Polestar offered two performance car models: the electric performance hybrid Grand Tourer (GT) Polestar 1, and the fully electric performance fastback Polestar 2. We also plan to introduce three new electric vehicles by the end of 2024.Our target is a production volume of around 290,000 vehicles per year by the end of 2025.
Sustainability lies at the heart of what Polestar is. In April 2021 we announced our Polestar 0 project, to create a truly climate-neutral car by 2030. We intend to reach our goal by focussing our efforts on the areas of climate-neutrality, circularity, transparency and inclusion (Sustainability | Polestar). We’re exploring ways to improve electric car battery sustainability via repair, refurbishment, and repurposing. Meanwhile, we are using blockchain to trace risk minerals and promote an ethical and transparent supply chain. In 2021, Polestar reduced greenhouse gas-emissions per car sold by 6% through the focus on increased efficiency and use of renewable energy.
In May 2022, we’ve released our polestar_sustainabilityreport_2021.pdf Initiatives such as the Polestar 0 project, our collaboration with Exponential Roadmap Initiative, our COP26 participation, our product labelling program, and our LCA reports are described. Our contribution to Agenda 2030 is covered and greenhouse gas emissions are tracked. Energy usage in manufacturing facilities such as Chengdu and Taizhou is reported, and planned partnerships and targets to increase circularity are outlined in the report.