By Adria Calatayud
Electric-vehicle maker Polestar plans to produce fully electric vehicles at Renault's plant in Busan, South Korea, from the second half of 2025 following an agreement between the two companies and Geely Group.
The companies said late Thursday that the Polestar 4 model will be produced at Renault Korea Motors' site for export to North America and the domestic South Korean market. Renault Korea Motors is a joint venture between Renault, Geely and Samsung.
Financial details of the agreement weren't disclosed.
Polestar said the deal diversifies its manufacturing footprint and complements its plans to make the Polestar 4 model in Hangzhou Bay, China.
The Polestar 4 will be the first fully electric car produced at the Busan plant, Renault Korea Motors Chief Executive Stephane Deblaise said.
The Busan plant has an annual production capacity of 300,000 units, Renault said.
Write to Adria Calatayud at adria.calatayud@dowjones.com
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November 10, 2023 at 01:13PM
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Polestar to Produce Electric Vehicles at Renault South Korea Plant - MarketWatch
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