On June 19th, Li Shufu, chairman of Geely Group, and Shen Ziyu, chairman and CEO of Xingji Meizu, announced at the Shanghai Polestar Automobile Headquarters that Geely’s high-end electric car brand Polestar and Xingji Meizu were established. The joint venture “Polestar China”.
Shen Ziyu will be in charge of the business development of Polestar Motors in the Chinese market in order to speed up the transformation of Polestar Motors into a smart technology company.
It is noticed that the newly established Polestar China is a “domestic company” jointly owned by Polestar Global and Xingji Meizu. The holdings are Xingji Meizu accounts for 51%, and Polestar Automobile accounts for 49%. As the parent company, the two parties will empower the brand: Xingji Meizu will provide software research and development capabilities, and will create an intelligent system Polestar OS for the Chinese market, so as to strengthen the localization of Polestar Auto at the software level. Polestar Motors will bring in the original Chinese team to undertake the operation of the Polestar brand in the Chinese market.
At the press conference, Polestar Global CEO Thomas Inglat revealed the delivery schedule of Polestar brand follow-up models: the pure electric high-performance coupe SUV Polestar 4 will be delivered successively from 2023 to 2024, and the luxury high-performance pure electric The four-door coupe Polestar 5 will be mass-produced in 2025, and the luxury pure electric two-door open-top supercar Polestar 6 will also be launched soon.
