Who Owns Polestar Now, And Are All The Cars Made In Sweden?

Polestar, builder of some very attractive EVs, is a bit of a strange automaker on the global stage. It makes some well-designed, very quick and fairly affordable vehicles, but have you ever wondered where are those EVs built and who owns the company? Well friends, you’ve come to the right place, as all answers will shortly be revealed. 

Initially created as a partnership between Swedish automaker Volvo and giant Chinese auto conglomerate Geely in 2017 after purchasing the Polestar Racing division, Polestar is a global brand with plants all over the world — but none in Sweden. At least, not right now. In fact, despite the company’s headquarters being located in Gothenburg, Sweden, Polestars have never built in Sweden. At the moment, Polestar offers three models here in the U.S.: the 2, the 3 and (wait for it) the 4. The Polestar 2 is built in a facility in Luqiao, China, owned by Geely Holding but operated by Volvo. The larger Polestar 3 SUV is built in at the Volvo plant in Ridgeville, South Carolina, as well as at a plant in Chengdu, China — Polestar’s primary manufacturing center specifically built for building the limited-run, now-retired Polestar 1 hybrid coupe. The Polestar 4 is built at the Hangzhou Bay factory operated by Geely Holding, but every Polestar 4 bound for the U.S. will be made at a plant in Busan, South Korea, starting later in 2025.

The Polestar 5, a Taycan-fighting sedan, is slated to begin production in 2025 but it is unclear where the company will manufacture the model; it’s currently undergoing engineering and development in the UK. The Polestar 6 will be a 2+2 electric roadster, but no final design or manufacturing center has been announced for that one, either. Polestar has the 7, another SUV, coming out soon with plans to produce this car in Europe, but nothing specific as to where in Europe. It could be at one of Volvo’s multiple plants in Sweden, Belgium, France and Slovakia. These cars are then exported to the U.S., Europe and beyond.

Polestar may have started out as a partnership between a smaller Swedish car brand and a Chinese giant, but the European side of the equation is quickly being canceled out. Polestar is burning through cash at an alarming rate, which is common for EV startups, but no less disturbing. Polestar sales aren’t what the two brands hoped they would be and, while Geely has the bandwidth to hold on to a few slower selling brands with potential, smaller Volvo doesn’t have the cash or patience to see it through. As of June 2025, Volvo only holds a 16% stake in Polestar, with Geely’s founder, Li Shufu controlling a staggering 66% of Polestar shares via Geely and his equity investment firm, PSD Investments.