Swedish premium carmaker Polestar will start delivering its electric vehicles in France this year with the goal of making it one of its three main European markets, its top executive for the country told Reuters.
Confronted with a cash crunch, tariff pressures, and a broad slowdown in EV demand, the company, majority-owned by China’s Geely Holding, has decided to focus its efforts more on profitable Europe, reports Reuters.
Even there, though, its initial rapid expansion has stalled, with the last new market launches dating back to 2022.
“We are a young company, given we have had a very steady rhythm of launches and market openings, it is good too, at some point to pause for a moment, before launching again a cycle of market openings”, Stephane Le Guevel, managing director for Polestar France, said.
“We have decided this year to concentrate on France and to restart the tempo next year. We have talked about Central Europe and LatAm”, he said.
While the Sweden-based automaker has attempted to conquer the U.S. and Chinese markets, its premium cars have been better received in Europe, which accounts for 75% of its sales.
Le Guével said that the automaker hoped France would, over the medium term, go on to become one of its top-selling markets in Europe, currently being Britain and Sweden.
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