Polestar signs MoU with Volvo Cars to have Polestar 7 manufactured in Slovakia

Polestar (PSNY) is taking the next step in diversifying its contract manufacturing footprint by expanding it to Europe. The company has signed a memorandum of understanding with Volvo Cars (VLVLY) to have Polestar 7 manufactured in Kosice, Slovakia, in advance of the planned launch of the premium compact SUV in 2028. Polestar 7 will be developed in accordance with the company’s recently announced strategy to use architectures from within the Geely Holding Group. Polestar 7 will utilise a technology base from Volvo Cars, benefiting from group component sharing, cell-to-body technology with next-generation battery density and performance, as well as the next generation of in-house developed e-motors. Adaptations will be made to create the driving experience and performance characteristics that Polestar is known for.