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Polestar (Nasdaq: PSNY) has made its priorities clear in 2024, with their most recent announcement of retail operation and commercial sites entering 7 new markets in 2025 including Asia, Europe, and South America, this is key to the company's long-term successes.
Polestar plans to start deliveries of their new models of premium EVs in late 2024, this includes the Polestar 3 and 4 flagship SUVs. Customers can customize their future cars and place orders online.
For the first time in Polestar's history, the company will be entering France for commercial-driven purposes, this is an area of Europe where Polestar has long awaited to sell vehicles due to its previous complicated legal history with Citroen.
The Stellantis family brand includes a wide variety of car companies such as Citroen and in 2017 the feud began between the brands, this is directly after Polestar became its very own company in mid-2017 after first being a performance developer and racing team for Volvo since 1996.
The companies then went through a lengthy legal battle in a bid to establish fair reasoning of whether or not the Polestar was a clear copy of the Citroen logo.
Citroen came out as the clear favorite in this legal proceedings and Polestar was ordered to pay $218,000 in damages and was barred from using its logo in Frances territories for 7 years.
France presents a major opportunity for Polestar as it's one of the biggest EV-friendly nations in Europe, similar to that of Germany, the UK, Norway, and Sweden.
Polestar has also set sights on launching its commercial business in the Czech Republic, Slovakia, Hungary, Poland, Brazil, and Thailand and the brand will utilize a host of strategic distribution partnerships to achieve its long-term plans.
Polestar CEO Says: “Expanding our retail operations with new and existing partners will enable us to reach more customers. Through these partnerships and expansion, we will capitalize on our strong brand and growing model line-up.”
The quest to support the Polestar brand's core business model has also encouraged new promising hires such as the more recent appointment of Kristian Elvefors as Head of Commercial.
Polestar also led a successful transition as Anders Gustafsson succeeded Gregor Hembrough as Head of North America, while Gregor transitioned into Head of Global Sales Operations role after leading Polestar's North America business since 2018.
The company believes Anders will bring aboard the right amount of experience after spending 13 years at Volvo Cars which included 6 years as Senior Vice President of Americas and CEO of Volvo Cars USA.
Polestar changes continue to bring surprises, none more note worthwhile than Matt Galvin becoming the successor of the UK Managing Director role following Jonathan Goodman's retirement from his position, this is important for many reasons but one fan online has taken to heart to describe as taking one of NIO's best and brightest, as Matt previously worked for NIO and he's comes with 20+ years of experience in the automotive industry which includes working with brands such as Volvo Cars and Mercedes Benz.
It doesn't stop there as Polestar also hired Marius Hayler to succeed Alexander Hørthe, Marius previously worked for Jaguar Land Rover, Volvo Cars, and NIO where he was general manager of NIO Germany and Norway.
While it's not uncommon to see companies hiring from another competitor, it is noteworthy as this is common practice throughout many industries, most notably in tech and most recently within the EV industry.
Kristian Elvefors, Polestar Head of Commercial, says: “I am delighted to welcome this group of talented and experienced leaders to the Polestar team. Through these appointments, we are strengthening our sales teams and bringing in additional expertise at a pivotal point in our development, as our model line-up expands to include two new SUVs.”
Polestar now is currently available in 27 global markets which will rise to 34 in 2025, the brand is introducing the Polestar 3 SUV, and Polestar 4 Coupé SUV in 2024, with plans to introduce the awaiting Polestar 5 GT Sedan in 2026 and onwards.
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