Volvo’s Polestar shows its true col­ors, belt­ing up for daz­zling fu­ture in China

The Myanmar Times - - International Business -

POLESTAR, Volvo’s per­for­mance elec­tric brand, is show­ing its con­fi­dence in the Chi­nese au­to­mo­bile mar­ket’s growth po­ten­tial and be­lieves China is largest sin­gle mar­ket world­wide.

Thomas In­gen­lath, CEO of Polestar, said he has great con­fi­dence in the Chi­nese mar­ket.

“Of course, the econ­omy has cy­cles,” In­gen­lath told China Daily at the Guangzhou auto show in midNovem­ber.

“I think that is a nat­u­ral el­e­ment of a ma­ture econ­omy. There will be el­e­ments of slow­down and ac­cel­er­a­tion again,” he added.

At the auto show, the au­tomaker un­veiled its first model, the Polestar 1, which will be pro­duced from the mid­dle of next year at the au­tomaker’s newly-built Chengdu plant.

When asked why Polestar lo­cated its plant in China, the CEO an­swered: “You def­i­nitely should go with your pro­duc­tion to where your big­gest mar­ket will be. China will be our big­gest mar­ket.”

Polestar’s high at­ten­tion to the Chi­nese mar­ket is also man­i­fested in its sales distri­bu­tion net­work in the coun­try.

Polestar plans to open 60 dealer ex­hi­bi­tion halls glob­ally, which are called Polestar Spa­ces, 20 in China, ac­cord­ing to In­gen­lath.

Uti­liz­ing an in­no­va­tive sales mode, all the Polestar prod­ucts will be both rented and sold, ac­cord­ing to the au­tomaker.

Choos­ing to rent a ve­hi­cle, the cus­tomer has the own­er­ship of the ve­hi­cle as long as he pays off the rental ex­pense ev­ery month, which ex­empts the cus­tomer from wor­ry­ing about ve­hi­cle de­pre­ci­a­tion, in­sur­ance and main­te­nance, ac­cord­ing to Polestar. Based on Volvo’s ex­pe­ri­ence in pro­duc­ing ve­hi­cles, Polestar is op­ti­mistic about its prod­uct com­pet­i­tive­ness.

“Polestar has an ex­pe­ri­enced par­ent com­pany. We can share tech­nol­ogy,” In­gen­lath said.

“I think that will help us to ac­tu­ally be able to de­liver fully on what we promised - to be a very se­ri­ous and highly pro­fes­sional com­pany,” the CEO added. As a high-per­for­mance hy­brid elec­tric ve­hi­cle, the Polestar 1’s range can reach 150 kilo­me­ters on pure elec­tric mode.

Equipped with Volvo’s Drive-E en­gine, the Polestar 1 has a max­i­mum out­put of 600 horse­power and a torque of 1,000 New­ton me­ters.

With a 4,585-mil­lime­ter-length body and a 2,742-mil­lime­ter-wheel­base, the two-door and four-seater model has a sporty and pow­er­ful ap­pear­ance, ac­cord­ing to the au­tomaker. The com­pany has its plan to build up its prod­uct port­fo­lio in the com­ing years, adding the Polestar 2 and Polestar 3 mod­els.– China Daily

Photo: China Daily

A vis­i­tor takes a photo of the Polestar 1, the first model by the au­tomaker, at the Guangzhou auto show last month.

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