After hesitations and various legal obstacles related to the case with Citroën, Polestar will indeed arrive in France. Vehicle orders will mainly be made online, but…
With just over 50,000 sales worldwide in 2023, it can’t be said that Polestar has completely turned the game around. The Sino-Swedish brand, owned by the Geely Group and a cousin of Volvo, has been operating independently for several years. The catalog has expanded, but sales are slowing down. The manufacturer, aiming for between 150,000 and 200,000 deliveries worldwide by 2025, has no choice but to open up new markets to attract new customers.
Polestar is facing a tough situation at the moment. Introduced on the NASDAQ in 2022, the Polestar stock has been losing its value continuously. An IPO generally leads to a peak in value before dropping and stabilizing, but Polestar’s stock has fallen to a particularly low level. It has lost over 5% in the last few hours to reach $0.65. Polestar must stem the tide in a competitive electric market in 2024. This is why the manufacturer has delayed announcing its financial results twice, which are expected to be released later this summer.
It was almost incomprehensible that Polestar was not present in France, one of the two largest electric vehicle markets in Europe. The Scandinavian-Chinese brand has decided to enter 7 additional countries: France, Czech Republic, Slovakia, Hungary, Poland, Thailand, and Brazil. France will be an important step for Polestar, which underlines its significance. The brand will replicate its unique sales model with a very “digital” approach, although showrooms will allow customers to see the vehicles up close. The legal issues with Citroën are now a thing of the past.
The arrival in France is expected in 2025, and now it remains to be seen which models will be offered. The Polestar 2 seems essential, and the new SUV Polestar 3, a technical cousin of the Volvo EX90 and Zeekr 001, is also expected to be marketed in a niche segment already occupied by Mercedes, Audi, Lexus, and BMW.
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