Polestar Automotive (NASDAQ: PSNY), a leading electric vehicle manufacturer, has announced the commencement of production for its luxury SUV, the Polestar 3, in South Carolina. This milestone makes Polestar 3 the first of the brand's vehicles to be produced across two continents.

The South Carolina factory serves customers in the US and Europe, enhancing the existing production in China. In a move to further diversify its manufacturing base, Polestar plans to begin production of the Polestar 4 in South Korea by mid-2025.

The Polestar 3, a performance SUV designed for the electric era, showcases Scandinavian aesthetics, advanced technology, and superior driving dynamics. It includes cutting-edge components such as centralized core computing powered by NVIDIA (NASDAQ: NVDA) and a comprehensive suite of advanced safety systems.

Thomas Ingenlath, Polestar’s CEO stated: “Manufacturing Polestar 3 in the USA is a crucial step for us. Exporting the South Carolina produced Polestar 3 to Europe will strengthen our business on a broader scope.”

Polestar is an electric vehicle manufacturer determined to improve transportation by using design and technology to accelerate the shift to sustainable mobility.

Shares of Polestar Automotive trade on the NASDAQ under the ticker symbol PSNY.