Polestar announces updates to its capital structure and intention to consolidate Polestar 3 manufacturing

Polestar EV model to be built only at Volvo's SC plant

Sweden's Polestar is consolidating all assembly work for one of its electric vehicles at the Volvo Cars plant near Charleston. It's moving production from a factory in China.

Polestar 3 production consolidated to the US to keep Volvo factory busy

Building the big electric SUV at two sites doesn't make sense anymore.

Polestar announces updates to its capital structure and intention to consolidate Polestar 3 manufacturing

Initial approximate USD 274 million debt-to-equity conversion and extension of shareholder loan from Volvo Cars, with a

Polestar 3 to Be Built Exclusively in the US as Volvo Converts $339 Million in Debt

Volvo Cars and Polestar said on Tuesday they plan to consolidate all global production of the Polestar 3 electric SUV at Volvo‘s plant in South Carolina — ending manufacturing of the model in China. Separately, Volvo Cars announced that it is converting approximately $274 million of its outstanding shareholder loan to Polestar into equity, with a further $65 million conversion expected later in the second quarter. “The move to consolidate global…

Global production of Polestar 3 shifts exclusively to the US

The Polestar 3 for global markets will in future be produced exclusively in the USA. Volvo Cars and Polestar plan to consolidate production of the battery-electric vehicle (BEV) at Volvo’s Ridgeville plant near Charleston. As a result, the model will no longer be manufactured in Chengdu, China, where it has been produced since early 2024. [...]