Polestar UK develops sales model with bold expansion plans

Polestar UK is developing its sales model and retail footprint reflecting its rapid growth in the UK with over 30,000 cars on UK roads. The development of Polestar’s sales model and expansion of the retail footprint goes hand in hand with the launch of the two new luxury electric SUVs; Polestar 3 and Polestar 4.

Matt Galvin, Managing Director, Polestar UK says: “Expanding our retail operations with new and existing partners will enable us to reach more customers. Through these partnerships and expansion, we will capitalise on our strong brand and growing model line-up.”

The UK is one of the first European markets where Polestar moves to a non-genuine agency sales model, in line with Polestar’s strengthened business plan to reach profitable growth next year. Polestar’s UK retail partners will be able to actively sell from each Space, enhancing customers’ overall experience. Customers will still be able to configure and order their Polestar online, as well as through the expanding network of Polestar Spaces, making it easier for more customers to buy and own a Polestar. Currently Polestar performance EVs are available from one of the nine Spaces accross the UK.

Galvin continues: ”We have delivered more than 30,000 Polestar 2 electric fastbacks to our UK customers since we launched in 2020. The development of our sales model and expansion of our retail footprint is a natural step to continue building upon the strong Polestar brand position particularly with deliveries of our two new luxury electric SUVs Polestar 3 and Polestar 4 starting.”

Polestar UK is planning a bold expansion programme from its nine existing Spaces to 17 in the next 18 months, supporting its product roll-out over the coming years.

John O’Hanlon, CEO of retailer group Waylands, the group which runs Polestar’s Bristol Space, said: “The new agreement between Waylands and Polestar will allow us to enhance the engagement with existing and future Polestar customers and will help us manage the customer journey in much more detail. I am really looking forward to adopting this strategy with Polestar 3 and 4 arriving this month.”

Globally Polestar has delivered over 160,000 Polestars to customers in 27 markets and will accelerate its global expansion to enter seven new markets during 2025 including; France, Czech Republic, Slovakia, Hungary, Poland, Thailand and Brazil via local distribution partnerships.

Contact

Kim PalmerHead of PR & CommunicationsUnited Kingdom, Irelandkim.palmer@polestar.com

About Polestar

Polestar (Nasdaq: PSNY) is the Swedish electric performance car brand determined to improve society by using design and technology to accelerate the shift to sustainable mobility. Headquartered in Gothenburg, Sweden, its cars are available online in 27 markets globally across North America, Europe and Asia Pacific.

Polestar plans to have a line-up of five performance EVs by 2026. Polestar 2, the electric performance fastback, launched in 2019. Polestar 3, the SUV for the electric age, launched in late 2022. Polestar 4, the SUV coupé transformed, is launching in phases through 2023 and into 2024. Polestar 5, an electric four-door GT and Polestar 6, an electric roadster, are coming soon. 

The Polestar 0 project supports the company’s ambitious goal of creating a truly climate-neutral production car by 2030. The research initiative also aims to create a sense of urgency to act on the climate crisis, by challenging employees, suppliers and the wider automotive industry, to drive towards zero.

Forward Looking Statements

This press release contains statements that are not historical facts, but rather forward-looking statements within the meaning of Private Securities Litigation Reform Act of 1995. Such forward-looking statements include those that address activities, events or developments that Polestar or its management believes or anticipates may occur in the future. All forward-looking statements are based upon, as applicable, our current expectations, various assumptions and data available from third parties. Our expectations and assumptions are expressed in good faith and we believe there is a reasonable basis for them. However, there can be no assurance that such forward-looking statements will materialize or prove to be correct as forward-looking statements are inherently subject to known and unknown risks, uncertainties and other factors which may cause actual future results, performance or achievements to differ materially from the future results, performance or achievements expressed in or implied by such forward-looking statements. Numerous risks, uncertainties and other factors may cause actual results to differ materially from those set out in the forward-looking statements, including those risks and uncertainties set forth in the sections entitled “Risk Factors” and “Cautionary Note Regarding Forward-Looking Statements” in Polestar’s Form 20-F, and other documents filed, or to be filed, with the U.S. Securities and Exchange Commission by Polestar. For any forward-looking statements contained in this or any other document, we claim the protection of the safe harbor for forward-looking statements contained in the Private Securities Litigation Reform Act of 1995, and we assume no obligation to update publicly or revise any such statements in light of new information or future events, except as required by law.