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Polestar's showroom in Oslo, Norway. In October 2017, Volvo Cars and Geely Holding announced that Polestar would become a standalone brand focusing on electric cars. [27] The brand introduced the Polestar 1 on 17 October 2017, a 2+2 coupé inspired by Volvo's Concept Coupé introduced in 2013, which includes influences from the Volvo P1800.
Zhejiang Geely Holding Group Co., Ltd. (ZGH), commonly known as Geely Holding (/ ˈ dʒ iː l i / ; Chinese: 吉利控股; pinyin: Jílì Kònggǔ), is a Chinese multinational conglomerate headquartered in Hangzhou, Zhejiang. The company is privately owned by Chinese entrepreneur Li Shufu, and mainly engaged in the automotive industry.
Polestar’s strategy is an “asset light” one: The company intends to use existing technologies and assembly plants owned by its partners — Volvo and Geely — to develop and build its cars ...
However, since 2017, the Chinese government had indicated that it would liberalize foreign control in the automotive sector, allowing full ownership by foreign companies. [8] In 2017, Tesla was allowed to set up a plant in Shanghai city, making it the first foreign automaker to open a wholly owned factory in China. [9]
Polestar was previously owned by Volvo, which is now owned by Geely. Polestar also plans to build its Polestar 3 at a Volvo factory in South Carolina, which would allow it to also avoid tariffs.
BEIJING (Reuters) -Chinese-backed Swedish electric vehicle (EV) maker Polestar Automotive is accelerating efforts to produce more vehicles outside China in view of rising geopolitical tensions ...
Geely Auto is a Chinese car manufacturer owned by Zhejiang Geely Holding. Geely Auto produces a wide range of vehicles from its main brand, Geely and its sub-brand Geely Galaxy. The company also partly owns Lynk & Co, Proton Cars, Radar Auto and Zeekr brands. The brands formerly used by the company include Geely Geometry, Emgrand, Englon, and ...
The venture represents a further push by the Geely group to adapt cars specifically for Chinese consumers. Meizu is owned by Geely chairman Li Shufu, who is also one of Polestar's largest ...