Premium BEV brand Polestar has announced a “rapid market expansion” plan intending to penetrate up to 30 global markets by the end of 2022.
Speaking at this week’s IAA Munich International Motor Show, Polestar CEO Thomas Ingenlath says the move reflects a growth in demand for its cars having doubled the markets where they are being sold this year from nine to 18.
Another 12 markets are being targeted for future sales growth using the company’s digital-first business model.
The new markets for the brand will include parts of the Middle East, including Kuwait and the United Arab Emirates. Luxembourg and Iceland will join the growing European base while additional markets will be confirmed at a later date.
Beyond its digital offering, Polestar also is expanding its retail locations in existing markets where about 100 Polestar Spaces (pictured below) and Destinations will be operational by the end of 2021. More will follow in 2022.
In Germany, the seventh Polestar Space was opened in Berlin this month, and the automaker says it will also invest in temporary Spaces in more cities. Leipzig is already confirmed to open in October, with a second temporary location to be announced.
“Growth on this scale is unprecedented and confirms our position as a truly global, pure EV brand,” Ingenlath says.
“Our unique business model has allowed us to develop the manufacturing capacity we need to satisfy demand. Our digital-first approach means we can enter new markets faster and, crucially, the service network vital to customer peace of mind is already in place.”