Polestar Automotive UK's latest grand plan unveiled: planning to enter 7 new markets by 2025
Polestar Automotive UK plans to enter 7 new markets, expanding its existing market and commercial footprint while collaborating with partners to expand the retail market. The company's CEO pointed out that expanding retail business will allow them to reach more customers and leverage a strong brand and vehicle lineup. Customers can configure and order cars online, as well as make purchases through expanded Polestar Spaces and service sites. Polestar Automotive UK's stock price rose over 8% in pre-market trading
According to the Zhītōng Finance and Economics APP, Polestar Automotive UK (PSNY.US) announced on Monday that the company is expanding its existing market and new market commercial footprint and retail business scale. The company stated that it is working with existing and new partners to expand its retail market footprint, as part of the shift towards a Non-Genuine agency sales model across Europe.
It is worth noting that the Swedish automotive giant plans to enter 7 new markets by 2025, accelerating its geographical expansion. France, the second largest electric vehicle market in the EU after Germany, is seen as a significant opportunity for the company. In addition, Polestar Automotive UK will launch the company's brand of electric vehicles in the Czech Republic, Slovakia, Hungary, Poland, Thailand, and Brazil through local distribution partnerships.
With the strong stimulus of the above-mentioned grand plan, Polestar Automotive UK's stock price rose over 8% to $0.735 in pre-market trading on the US stock market.
"Expanding our retail business with new and existing partners will allow us to reach more customers. Through these collaborations and expansions, we will leverage our strong brand and growing lineup of models," said the company's CEO Thomas Ingenlath.
Polestar Automotive UK stated that customers can still configure and order their Polestar online, and can also configure and order through the expanding Polestar Spaces and service network, making it easier for more customers to purchase and own various models of Polestar. Earlier this month, the Swedish and Norwegian markets have already shifted to the Non-Genuine agency sales model, with other major markets set to follow suit in the second half of this year