Polestar Builds First 5,000 Polestar 4 SUVs in South Korea for Europe

Polestar has built its first 5,000 Polestar 4 SUVs at a plant in Busan, South Korea, with the vehicles headed to Europe, CEO Michael Lohscheller told Automotive News.

The production milestone comes as the automaker looks to revive European sales and improve profitability, although it has not disclosed how many of the vehicles have been ordered or how quickly they will reach customers.

Polestar 4 SUV Output Reaches 5,000 as Company Seeks European Growth

Lohscheller said orders for the SUV were strong during an interview published by Automotive News Europe. He described Europe as “somewhat flat” this year and identified the Polestar 4 SUV as the model expected to help restore momentum.

Polestar launched the SUV on September 2, saying production was underway at the Busan plant and that customer deliveries were planned for the fourth quarter of 2026. The first 5,000 vehicles represent an initial production batch, but Lohscheller did not specify when they were built or how many would be delivered before year-end, according to eletric-vehicles.com.

Battery capacity is unchanged from the coupe at 100 kWh, but the SUV gains a regular rear window, an inch more headroom in back and 530 to 1,665 liters of cargo space. The rear-motor version produces 272 horsepower and offers up to 391 miles of WLTP range. The dual-motor version delivers 544 horsepower and accelerates from zero to 62 mph in 3.9 seconds.

In Germany, the rear-motor SUV costs from €57,900, the dual-motor from €65,900 and the Performance pack version from €76,300.

Polestar Faces Financial Pressure Despite New Model Launch

The production milestone arrives as Polestar works to improve its financial performance. The company retailed 44,790 cars worldwide during the first nine months of 2026. Sales outside the United States fell 0.5% to 40,773 vehicles over the same period. Third-quarter sales outside the US fell 7.9% to 12,211, while global sales rose 1% to an estimated 14,371 vehicles.

First-half revenue was $1.36 billion, against a net loss of $842 million. Its adjusted gross margin was negative 8.5%, compared with positive 1.4% a year earlier, and it reduced its 2026 volume growth outlook to the low-to-mid single digits.

The company has also faced uncertainty over its funding and US market access. After turning about $640 million of shareholder loans into equity in the first half, it secured a $400 million loan facility from a Geely unit, with $100 million committed.

Third-quarter results are due November 5. The new SUV’s early demand and delivery pace will be important indicators as the company pursues growth while working to improve its financial position.

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