Polestar Automotive Targets Expansion, To Enter 7 New Markets in 2025

Jun 18, 2024 09:32 PM EDT

WHEEL RIM CAR TIRE VEHICLE AUTO — (Photo : PIXABAY/bixusas)

Polestar Automotive gears up as it plans to enter 7 new markets next year. The manufacturer targets to expand its reach across the European market. It will also be distributed locally by partners in Thailand and Brazil.

Polestar to Land 7 New Markets in 2025

Polestar Automotive will be expanding its presence across existing and new markets. Its vehicle lineup will soon be available to 7 new markets across Europe, Thailand, and Brazil. This effort is part of Polestar's move to broaden its commercial and retail operations.

According to a report shared by Yahoo! Finance, Polestar Automotive is revamping its retail strategy in Europe by shifting towards a non-traditional agency sales approach. This change involves collaborating with existing and fresh partners to provide customers the flexibility to configure and purchase Polestar vehicles online or at various Polestar Spaces and service centers.

The new sales model, already implemented in Sweden and Norway, is set to roll out in additional key markets throughout the latter part of the year, streamlining the buying and ownership experience for consumers.

According to the same report, Polestar is swiftly broadening its global footprint by targeting entry into seven new markets spanning Asia, Europe, and Latin America by 2025. Notably, France, a key electric vehicle market in the European Union following Germany, presents a promising opportunity for expansion.

Moreover, Polestar Automotive is strategically planning launches in the Czech Republic, Slovakia, Hungary, Poland, Thailand, and Brazil through collaborations with local distribution partners.

Closer Look at Polestar Expansion

As shared by CarScoops, in discussing the expansion of retail operations with new and existing partners, Polestar's chief executive, Thomas Ingenlath, emphasized the potential to reach a broader customer base. He highlighted that through these partnerships and expansion initiatives, the company aims to leverage its strong brand and expanding model line-up.

CarScoops also highlighted that in the previous year, Polestar achieved sales of 54,600 electric vehicles globally and now targets a significant increase to reach a range between 155,000 and 165,000 by 2025. To support this growth trajectory, the automaker is transitioning to a non-traditional agency sales model throughout Europe, commencing in Sweden and Norway.

This approach allows customers to still personalize and purchase their new Polestar vehicles online or via designated Polestar Spaces and service centers while limiting dealers' flexibility in pricing control.

Additionally, recent announcements have revealed substantial investments in advertising campaigns through the second quarter. Furthermore, the availability of leasing options for the Polestar 2 in the U.S., starting at $299 per month for 27 months with a $10,000 Polestar Clean Vehicle Incentive, aims to attract more customers to experience the brand's offerings.

As reported by Seeking Alpha, Polestar has affirmed that customers will retain the option to personalize and purchase their Polestar vehicles online or through the increasing network of Polestar Spaces and service centers.

This approach aims to streamline the purchasing process and enhance accessibility for a wider customer base looking to own a Polestar. Notably, the recent adoption of a non-traditional agency sales model in Sweden and Norway marks a strategic shift, with plans underway to implement this model in other significant markets in the latter part of the year.