Final Up to date on: fifth July 2025, 12:25 am
Volvo Vehicles and Polestar have signed a memorandum of understanding* for the event and manufacturing of Polestar’s forthcoming premium compact SUV at Volvo Vehicles’ new manufacturing plant in Kosice, Slovakia.
The Polestar 7, a premium totally electrical compact SUV, is deliberate to be launched in 2028. Topic to closing agreements between the businesses, it’s deliberate to be the second automotive to be constructed on the Kosice plant and supposed to comply with a yet-to-be-announced, next-generation Volvo mannequin that will probably be constructed there previous to the introduction of Polestar 7.
The Polestar 7 will provide the design and efficiency traits which are synonymous with the model, whereas sharing a typical expertise base with two forthcoming Volvo fashions, together with the Volvo EX60.
It would profit from group part sharing, mega casting, cell-to-body expertise with next-generation battery density and efficiency, in addition to the following technology of Volvo Vehicles’ in-house developed e-motors. This strategy to expertise sharing creates economies of scale, driving effectivity and price advantages.
It additionally illustrates the advantage of Volvo Vehicles’ strategy to growth, as exemplified by its Superset tech stack. Sharing a software program base, core system and cloud infrastructure with the Volvo EX90, Volvo ES90, Volvo EX60 and the Polestar 3, the Polestar 7 will profit from steady enhancements and have development designed for the total line-up by way of over-the-air updates.
“Our collaboration with Polestar on the event and manufacturing of the Polestar 7 underscores how Volvo Vehicles and Polestar proceed to leverage synergies to effectively ship excellent automobiles constructed for our distinct buyer segments,” says Håkan Samuelsson, President and CEO for Volvo Vehicles. “This collaboration builds on the success of our joint efforts on the broadly acclaimed Polestar 2 and Polestar 3.”
The Kosice plant, presently underneath building, will probably be Volvo Vehicles’ third manufacturing plant in Europe. The Kosice facility is meant to be climate-neutral and construct solely electrical automobiles, underpinning Volvo Vehicles’ ambition to turn into a totally electrical automotive maker and to realize net-zero greenhouse gasoline emissions by 2040.
By choosing Slovakia as the situation for its third plant, Volvo Vehicles will quickly have a European triangle of producing masking its largest gross sales area – complementing the Ghent plant (Belgium) in western Europe and the Torslanda plant (Sweden) in northern Europe.
The brand new Kosice plant represents an funding of round EUR 1.2 billion. It would profit from a well-established automotive provide chain because it turns into the fifth automotive plant in Slovakia. It will possibly produce as much as 250,000 automobiles per 12 months and can present a number of thousand new jobs within the area.
Observe to editors: Volvo Vehicles and Polestar have signed a non-binding Memorandum of Understanding (MoU). The MoU displays the mutual intent to discover and pursue a possible collaboration. The execution and implementation of the collaboration described herein stay topic to negotiation and finalisation of definitive agreements between each events.
Volvo Vehicles in 2024
For the total 12 months 2024, Volvo Automobile Group recorded a record-breaking core working revenue of SEK 27 billion. Income in 2024 amounted to an all-time excessive of SEK 400.2 billion, whereas world gross sales reached a file 763,389 automobiles.
About Volvo Automobile Group
Volvo Vehicles was based in 1927. At this time, it is likely one of the most well-known and revered automotive manufacturers on this planet with gross sales to clients in additional than 100 international locations. Volvo Vehicles is listed on the Nasdaq Stockholm trade, the place it’s traded underneath the ticker “VOLCAR B”.
“For all times. To present individuals the liberty to maneuver in a private, sustainable and secure approach.” This goal is mirrored in Volvo Vehicles’ ambition to turn into a totally electrical automotive maker and in its dedication to an ongoing discount of its carbon footprint, with the ambition to realize net-zero greenhouse gasoline emissions by 2040.
As of December 2024, Volvo Vehicles employed roughly 42,600 full-time staff. Volvo Vehicles’ head workplace, product growth, advertising and marketing and administration features are primarily positioned in Gothenburg, Sweden. Volvo Vehicles’ manufacturing vegetation are positioned in Gothenburg, Ghent (Belgium), South Carolina (US), Chengdu, Daqing and Taizhou (China). The corporate additionally has R&D and design centres in Gothenburg and Shanghai (China).
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