China Food Delivery Stocks Dip as Regulators Crack Down on “Ghost Deliveries” 
Indian Refiners Use Yuan via ICICI Bank to Pay for Iranian Oil Under U.S. Sanctions Waiver 
Eli Lilly in Talks to Acquire Kelonia Therapeutics for Over $2 Billion 
Want to cut your energy bills? Here’s how five experts are doing it 
John Ternus Signals Apple’s Future with Product-First AI Strategy 
OPmobility Reports Q1 Revenue Dip Amid Automotive Industry Slowdown 
Indonesia and Toyota Explore $300M Bioethanol Investment to Boost Renewable Energy Goals 
SpaceX Eyes $60B Cursor Deal to Boost AI Power Ahead of IPO 
JAPEX Shares Drop as Middle East Tensions Drive LNG Costs and Production Risks 
Chinese Robotics Stocks React as Humanoid Robot Marathon Sparks Competition Concerns 
LG Innotek Stock Hits Record High on $68M Automotive Wi-Fi 7 Deal 
J.P. Morgan Downgrades Essity AB on Rising Costs and Weak Earnings Outlook 
Rising Jet Fuel Costs from Iran Conflict Push Airfare Higher Across Europe 
Nidec Stock Rises After Accounting Probe Report Eases Delisting Concerns 
NVIDIA Acquisition Rumors Dismissed by Morgan Stanley as Strategically Flawed 
SpaceX President Gwynne Shotwell Earns $85.8M as IPO Buzz Grows 
Apple Stock Dips as Tim Cook Steps Down, John Ternus Named Next CEO 
The company announced that Renault Korea's Busan plant is rapidly emerging as a vital production facility in the global electric vehicle (EV) market. It plans to manufacture the Polestar 4 at the Busan plant in the second half of 2025.
Polestar, which became an independent EV brand in 2017 after separating from Volvo's high-performance division, has ambitious plans to target the global EV market by sequentially launching exciting models such as the Polestar 2, a mid-size sedan, the Polestar 3, a mid-size SUV, and the Polestar 4, a coupe SUV.
Busan Plant's Advantages and Technical Expertise
Polestar CEO Thomas Ingenlath stated that production was assigned to Renault Korea's Busan factory due to its 23 years of vehicle manufacturing experience, employing over 2,000 skilled technicians, and convenient proximity to the export port, as per Korea Times.
Motor Mouth reported that the vehicles produced here are expected to be exported to North America.
Established in 1997, Renault Korea's Busan factory prides itself on its world-class quality and productivity. In fact, among Renault Group's 20 global car factories, the Busan facility is consistently recognized as a leader in significant production quality management indicators. These include the number of defects per 100 vehicles produced and the number of defects per vehicle shipped from the factory.
Stellar Performance and Recognition
Renault Korea's Busan factory notably produced the Nissan Rogue from 2014 to 2020 for export to North America. This success alleviated Nissan's initial concerns about quality and led to additional orders, further proving the plant's capabilities.
Additionally, the Busan factory received high accolades in the Harbour Report, ranking eighth among global factories in 2016 and sixth in 2018. Published by global consulting firm Oliver Wyman, the Harbour Report compares and analyzes productivity indicators of car factories worldwide and is widely recognized as an industry standard.
The Polestar 4 - Boosting Operations and EV Production Capabilities
With the initiation of Polestar 4 production, Renault Korea expects to enhance the plant's operation rate in the short term while accumulating valuable expertise in their own EV production capabilities in the long run.
Renault Korea's comprehensive electrification campaign is set to kick off next year. The company plans to produce the next-generation electric car at the Busan factory in 2026, starting with the launch of a hybrid SUV, followed by a hybrid sedan.
Photo: Polestar Newsroom
