Polestar, the brand that Volvo is now promoting to sell its own electric vehicles, different from what Volvo sells, benefits from a good start in South Korea, a market dominated by local manufacturers.
Following the brand launch at the end of 2021 where Polestar Precept was shown, Polestar 2 was officially unveiled on 18 January 2022 at the Seoul Wave Art Center, with the opportunity for customers to place reservations online at Polestar.com with a USD 840 deposit. Polestar 2 reservations surpassed the 2,000 mark within just two hours and totaled over 4,000 within one week.
South Korea is Polestar’s newest market as it continues to expand its global footprint, and becomes the 19th market worldwide where Polestar cars are available. This is in line with Polestar’s ambition to be present in at least 30 markets by 2023 as it pursues its intentions to grow to 290,000 cars per year by 2025. Polestar also intends to list on the Nasdaq in a proposed business combination with Gores Guggenheim, Inc. (Nasdaq: GGPI, GGPIW, and GGPIU), which is expected to close in the first half of 2022.