Polestar CEO touts Busan plant as key export hub for North America

SEOUL, November 21 (AJP) - Michael Loscheller, chief executive of Polestar, stressed the strategic value of the company’s new production base in Busan, describing it as a critical link between Asian manufacturing and North American demand.

Speaking to reporters in Seoul on Nov. 20, Loscheller said the plant has begun trial production of the Polestar 4 destined for North American markets.

The facility, operated by Renault Korea, underwent a major upgrade this year to prepare for electric-vehicle assembly. Production was halted for five weeks while workers installed 68 new pieces of equipment.

Loscheller said he recently saw the first Busan-built Polestar 4 vehicles arrive in Canada, a milestone he said highlights the plant’s growing importance to the company’s global supply chain.

Polestar has no immediate plans to sell Busan-produced Polestar 4s in South Korea, but Loscheller suggested that could change, calling North American shipments “just the beginning.” He said quality considerations and U.S. tariffs on Chinese-made electric vehicles played a key role in choosing Busan as a manufacturing base.

The company is enjoying strong momentum in South Korea, where sales climbed to 2,513 vehicles between January and October, up 484 percent from a year earlier. The Polestar 4, launched in August 2024, accounted for 2,167 of those deliveries. Loscheller credited the model’s design, sustainability features and performance for driving the surge, adding that Polestar intends to build on those strengths.

Looking ahead, Polestar plans to introduce two higher-end models—the Polestar 3, a large electric SUV, and the Polestar 5, a grand tourer — positioned above the Polestar 4. Loscheller said he expects the new vehicles to further accelerate the brand’s growth both globally and in South Korea.

* This article, published by Aju Business Daily, was translated by AI and edited by AJP.