Renault Korea Motors (RKM) is enlarging its role as hub for EV exports in South Korea, with its latest agreement with EV manufacturer Polestar and its corporate parent Geely Group. Accordingly, Polestar 4 is planned to be manufactured in RKM's Busan plant starting from the second half of 2025.
A subsidiary of French auto giant Renault, RKM will manufacture Polestar cars for North American and domestic South Korean markets. The Busan plant has an annual capacity of 300,000 units and is recognized for its top-quality performance, ranking among the leading domestic OEMs for initial quality over the past 2 years.
The facility is noted for its direct access to exporting ports and excellence in vehicle manufacturing for more than 23 years. RKM has also announced its own hybrid vehicle range for the domestic market, which are expected to be ready in 2024.
Stephane Deblaise, Chief Executive Officer of RKM, commented on the development, "Polestar 4 will be the first fully-electric vehicle produced in Busan plant, symbolizing the Renault Korea Motors renewal and our ambitious vision for the future. We are very proud of this new partnership and grateful to the Polestar brand for their trust."
Sharing his views on the latest agreement, Thomas Ingenlath, Polestar CEO, said, "We're very happy to take the next step in diversifying our manufacturing footprint together with Geely Holding and Renault Korea Motors, a company that shares our focus on both quality and sustainability".
"With Polestar 3 on-track to start production in Chengdu, China in early 2024 and in South Carolina, USA, in the summer of 2024, we will soon have manufacturing operations in five factories, across three countries, supporting our global growth ambitions", he added.
It is to be noted that Polestar's parent firm Geely Group owns a significant 34 percent stake in Renault Korea.
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