Volvo building a new factory in China for the Polestar 1 hybrid car12. December 2017
Volvo and its Chinese parent company Geely recently unveiled its new Polestar 1 hybrid electric car and will be building it in a brand new Chinese factory in the western Chinese city, Chengdu, where production is expected to start in 2019.
The new Polestar is expected to be Volvo’s answer to Tesla, which is currently set for world domination in the electric car and hybrid market.
According to Volvo executives, the new Chinese factory that will produce the Polestar is primed to be ‘the most environmentally responsible car factory in China.’
But the Polestar won’t be coming in cheap. Reports suggest that the new Polestar will have a price tag from anywhere between 130,000 – 150,000 Euros.
The unveiling and respective plans for production of this vehicle notably comes at the perfect time, in that they work well within the Chinese government’s goal for a fifth of all Chinese auto sales to be either electric or hybrid by 2025. Notably, volume production will be low at first, but later models will be mass-produced.
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