Polestar Korea Managing Director Ham Jong-sung speaks during a press conference in Seoul, Wednesday. Courtesy of Polestar Korea

Polestar Korea seeks to sell 4,000 electric vehicles (EVs) this year by introducing its two flagship models — the Polestar 3 and 5 — to solidify its footing in the country's premium EV market, the head of the carmaker said Wednesday.

The local subsidiary of the Swedish EV maker sold 2,957 vehicles last year on the popularity of its Polestar 4 electric SUV. The sales figure is noteworthy, as the carmaker maintained the top spot in sales for premium EVs priced over 60 million won ($41,000) without any discount policies.

The Polestar 3 premium electric SUV will be launched in Korea in the second quarter and delivered to customers in the third quarter. The Polestar 5 high-performance sedan will be delivered to local customers in the fourth quarter.

“We set the sales target, which is an increase of 35 percent from the previous year, as we are confident in expanding our presence as a luxury EV maker with the new models,” Ham Jong-sung, managing director at Polestar Korea, said during a press conference in Seoul.

The head of the carmaker’s Korea business also underscored Korea’s strategic role to the carmaker.

“Korea is the world’s sixth-largest market for Polestar, and the largest one in Asia in terms of sales,” Ham said. “Aside from the sales figure, our headquarters is paying increasing attention to the local market due to the country’s tech prowess in manufacturing EV batteries and other key auto parts.”

The Polestar 3 electric SUV, left, and Polestar 5 sedan are unveiled during the carmaker's press event in Seoul, Wednesday. Courtesy of Polestar Korea

Korea serves as a key export hub for Polestar, with the automaker shipping Polestar 4 EVs to North America from Renault Korea’s Busan plant, where the vehicles are produced under a contract manufacturing arrangement.

Polestar Korea also said it will not enter the ongoing EV price war in Korea — triggered by the influx of ultracheap Chinese EVs and Tesla’s discount on some of its price-competitive models.

Source: Korea Times News