“The move to consolidate global Polestar 3 production to Charleston helps create efficiencies for both companies, while underscoring our confidence in the facility and its role in our manufacturing structure,” Volvo Cars CEO Håkan Samuelsson said in a press release.
The factory produces Volvo's EX90 model, and the XC60 will also be produced there. The announcement comes at the same time as Volvo Cars increases its ownership stake in Polestar from 9.8 to 19.9 percent by converting part of its outstanding convertible loan to Polestar.
