By the end of this year, polestar can completely withdraw from the Chinese market, Car news China has reported, referring to Chinese news output NBD Auto. This is reportedly due to poor sales, as well as important restructuring of the organization in the region, the report wrote.
In the first half of this year, the Gey-ownership of the Swedish brand sold only 69 vehicles in China, in which it experienced zero sale in the months of April and May. This contrasts with the global turnover of polestar of 30,319 vehicles in the first half of 2025, which represents a growth of 51% compared to the same period in 2024.
Organizational changes have suggested that Polestar’s exit from China, including the joint venture between Polestar and Star Meizu, Polestar Times technology that, according to the report, had stopped in April.
The physical presence of Polestar in China is limited to one direct sales output in Shanghai, while the online purchasing system is closed and customers require teen ripens earlier telephone agreements, suggesting that operations are almost completely suspended in the market.
According to NBD AutoMajor Investor in de Geely Holding Group gecontroleerd door Geely -voorzitter Li Shufu, PSD -investering leverde een cashinjectie van US $ 200 miljoen (RM845,5 miljoen) in Polestar op in Polestar, en daarmee verhoogde PSD -investeringen zijn belang in Polestar tot 44%, met Li’s gecombineerde belang in Polestar toegenomen tot 66%, terwijl Volvo in Polestar in Polestar was reduced from 18%to 16%.
In February 2024, Volvo stopped the financing of Polestar and handed the control over the EV brand to parent company GEYY, which took over the importance of 48% of Volvo in Polestar at that time. In the following month of March 2024, Polestar announced that the US $ 950 million had obtained external financing.
NBD Auto Reported that Polestar’s share price since his IPO fell by 90% in 2022 and received compliance notification from Nasdaq when the share price fell under US $ 1 per share in 2024.
As far as the brand products are concerned, the Polestar 2 was updated in April of this year as a model from 2026 years, which brings a larger battery for its basic variant that increases its WLTP-rated range to 554 km. In the meantime, the Polestar 7 Premium Compact SUV will be produced in Europe, while it is said Van de Polestar 5 that it will start sales in the second half of this year.
Do you want to sell your car? Sell it with Auto.
#Polestar #leave #China #units #sold #Paultan.org