Polestar, the premium electric vehicle maker owned China's Geely and Volvo Cars, would like to eventually be publicly listed, but the immediate focus is on successfully launching the new Polestar 2 electric sedan, the startup's chief executive said on Tuesday.
DETROIT - Polestar, the premium electric vehicle maker owned China’s Geely and Volvo Cars, would like to eventually be publicly listed, but the immediate focus is on successfully launching the new Polestar 2 electric sedan, the startup’s chief executive said on Tuesday.
FILE PHOTO: People look at a Polestar 2 electric sedan displayed in a shopping mall in Shanghai, China May 5, 2020. REUTERS/Yilei Sun “The mid- and long-term perspective indeed is to be ... open for the stock market and an IPO,” CEO Thomas Ingenlath told reporters on a conference call. “This is indeed one track that is absolutely still on and has not changed” since Volvo Cars CEO Hakan Samuelsson said in January 2019 that Polestar could eventually be listed publicly, Ingenlath added.
“It’s not about the short term thinking. We have a long-term ambition,” Ingenlath said. “Let’s see where we are in a year’s time.” Polestar will sell the Polestar 2 in China, Europe and the United States and the company is targeting annual sales of more than 50,000 within two to three years, he said.
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