Polestar 4 wins Car of the Year and Design Car of the Year in South Korea

2025 Polestar 4

POLESTAR - Polestar 4 has won `Car of the Year´ (COTY) in South Korea. The annual award, presented by Joongang Ilbo, is an acclaimed industry award decided by an all-Korean expert jury of journalists, designers, professors, and researchers.

 

In statements from the jury, the Polestar 4 is recognised for its performance, safety and design.

 

Jury member and broadcaster Kim Jin-pyo, said: “After evaluating a total of 15 new cars from 13 brands, the Polestar 4 has won the top award. Among the candidate vehicles, it stands out the most in terms of exterior design and performance.”

 

The head judge, Jung Seung-ryeol, President of Kookmin University, said, “It well reflects the feel of a European SUV, and has shown performance beyond expectations in driving performance and safety.”

 

The COTY award is presented at the annual Car of the Year Awards on March 14 in Seoul, South Korea.

 

Michael Lohscheller, Polestar CEO, says, “Winning Car of the Year in South Korea, one of the world’s most advanced EV markets, is a great achievement for Polestar. The award also shows how well the innovative, luxury and modern Polestar 4 has been received in South Korea since launch last year. We’re looking forward to producing the Polestar 4 in Busan later this year.”

 

The COTY announcement happens less than a week after Polestar 4 was voted as Design Car of the year in South Korea by Automotive Writer Association of Korea (AWAK). The award was determined through an evaluation of 35 car models from 2024, by a panel of expert automotive journalists.

 

Subum Lee, Polestar 4 Lead exterior designer from South Korea, says “Polestar 4 is designed with Polestar´s three core values in mind: Pure, Progressive, and Performance”, “innovation lies not only in novelty, but in seeing things from a different perspective, such as designing it without a rear window to create more rear interior space. I am very pleased that with this award, the unique and bold design of Polestar 4 is being recognized within the automotive industry."

 

Other recent awards for Polestar 4 include `Executive Car´ in UK Car of the Year Awards and `Luxury Car of the Year´ under $100,000 by Drive.com.au in Australia.

 

Polestar 4 production is planned to begin in Busan, South Korea, in 2025.

Polestar 4 production starts; first customer deliveries expected before end of 2023

POLESTAR - Polestar (Nasdaq: PSNY) confirms the successful start of production of Polestar 4, with first deliveries to customers in China expected before the end of 2023. Official launch in all other Polestar markets is planned for early 2024, with customer deliveries in these markets expected within the same year.

 

The first production car to roll off the assembly line is finished in Snow with the signature Swedish gold details of the Performance Pack. It is the first Polestar to be manufactured at the Hangzhou Bay factory operated by Geely Holding, which is powered by renewable electricity that carries the I-REC hydro power certificate, combined with photovoltaic electricity generated on the roof of the plant.

 

The factory’s green credentials have played a significant role in reducing the environmental impact of Polestar 4, which at 19.4-21.4 tCO₂e, has the lowest carbon footprint of any Polestar car at launch.

 

The workshop adopts several methods of reducing harmful waste, including:

• Non-chrome passivator to reduce water pollution.
• Water-based paint to reduce volatile organic compound emissions.
• Dry paper box filtering in the paint shop to remove paint mist, achieve zero wastewater generation during the spraying process, and effectively reduce air conditioning energy consumption by 60%.
• Concentrator wheel and regenerative thermal oxidiser to effectively treat exhaust gases from the factory.

 

Thomas Ingenlath, Polestar CEO, says: “The first Polestar 4 rolling off the production line today is the culmination of hard work from countless colleagues and partners. Polestar 4 stands out in design and performance, a remarkable SUV coupé in many ways. It is the first Polestar to feature a virtual rear window with world-class digital rear-view mirror. This car plays a very important role in our growing line-up of exclusive performance EVs. It illustrates the value of our diversified and asset-light approach, making use of our partner and major shareholder’s development and manufacturing expertise.”

 

Polestar 4 was first launched at the Shanghai Auto Show in April 2023. From the second half of 2025, additional manufacturing will be added in Busan, South Korea, for the local market and export to North American markets. The SUV coupé is the second SUV in the Polestar line-up and in addition to incorporating design cues first seen on Polestar’s concept cars, it is also the fastest Polestar production car to date. Polestar 4 is positioned between Polestar 2 and Polestar 3 in terms of size and price.

Polestar delivering on growth promise, continues to drive customer demand, expand into new markets, increase retail sales footprint and develop product portfolio

2023 Polestar 3

POLESTAR - Polestar, the Swedish electric performance car brand, continues to deliver on its growth promise as it progresses towards a planned listing on the Nasdaq through a proposed business combination with Gores Guggenheim, Inc. (Nasdaq: GGPI, GGPIW, and GGPIU), expected to close at the end of June 2022.

 

Expansion into new markets and a growing retail footprint are both driving and supporting customer demand, while the development of new models is set to propel the brand further into high-margin premium SUV segments.

 

Polestar launched its 25^th global market in the first half of 2022, a significant increase from 10 markets in 2020. Polestar has added six new markets since the start of 2022, including UAE, Kuwait, Hong Kong, Ireland, Spain and Portugal. The company also plans to launch in Israel and Italy in the second half of 2022, adding to its Middle East and European footprint. By the end of 2023, Polestar plans to be present in an aggregate of at least 30 markets globally, while continuing to evaluate new market opportunities for the future.

 

Thomas Ingenlath, CEO of Polestar, says: “Selling already in 25 countries across the globe, Polestar has a unique position in the pure play EV market. We are a real company, not one based on slideshow promises. More than 55,000 Polestar cars are on the roads globally today and we are launching a stunning portfolio of three new models in just three years. These gorgeous EVs are all in advanced development stages, and we have the ability to produce great quality cars with our experienced industrial partners.”

 

Product expansion also continues with the Polestar 3 electric performance SUV, scheduled for its world premiere in October 2022. Polestar 3 marks the company’s first product for the attractive, high-growth SUV market. This will be followed by the Polestar 4 electric SUV coupe, and the Polestar 5 electric 4-door GT.

 

Polestar 4 is expected to be launched in 2023 and enters one of the most competitive market segments in terms of demand, performance and design.

 

Polestar 5 is also in advanced stages of development and planned to be launched in 2024. A prototype will be shown in public for the first time at the 2022 Goodwood Festival of Speed from 23 to 26 June 2022.

 

Mike Whittington, Head of Global Sales at Polestar, adds: “It’s exciting for the whole team to experience this growing momentum in our business. Our order intake is at record levels and currently represents an annualized run-rate of over 75,000 vehicles, putting us in a strong position as the production landscape normalizes. In addition, with both Polestar 3 and Polestar 4 on the horizon, we are set to play a leading role in the electrification of lucrative and sizeable premium SUV segments. With a 2025 production capacity for these two EVs expected above 160,000 vehicles per year, we will have the ability to scale quickly and attract new customers to the brand.”

 

Polestar now has close to 130 retail locations open around the globe and expects to have 160 locations open by the end of 2022. More Polestar Spaces and Destinations are planned in existing and new markets, in cities including London, Madrid, Tel Aviv, Reykjavík, Vancouver, Austin, Shenzhen, and others.