November 26, 2024

• 

The assembly of a Polestar 4 underway at Geely Holdings' SEA factory in Hangzhou Bay, China. (Renault Korea Motors)

Renault Korea Motors said Friday it has signed a deal with Swedish carmaker Polestar and China's Geely Holding to produce the all-electric Polestar 4 at its Busan plant from the second half of 2025.

Renault Korea has dedicated efforts since 2022 to prepare for the manufacture of high-end mid-size and semi-large electric vehicles.

"Kicking off Polestar 4 EV production in Busan is a fresh start for us at Renault Korea Motors, reflecting our pledge to a forward-thinking approach. We're truly thankful for this collaboration that brings new opportunities, strongly supported by the Renault and Geely Groups," said Renault Korea Motors CEO Stephane Deblaise.

The production of the Polestar 4 in Busan will cater to both the North American and Korean markets.

The Busan plant, employing about 2,000 workers and situated near a key port, has been a major location in the automotive industry for 23 years. With a capacity of 300,000 units annually, the plant has been lauded for its quality, leading Korea's automobile initial quality rankings for two consecutive years.

"We're eager to grow our manufacturing reach alongside Geely Holding and Renault Korea Motors -- partners who value high-quality and green practices as much as we do. Adding Busan's production to our lineup, alongside our China and USA operations, aligns perfectly with our plans to scale up globally,” said Polestar CEO Thomas Ingenlath.

By Moon Joon-hyun (mjh@heraldcorp.com)