Electric car manufacturer Polestar is exploring a wide-ranging alliance with South Korean conglomerate SK to advance the development of electric cars. The possible collaboration also includes a potential supply of SK batteries for upcoming Polestar vehicles.
According to Polestar, the two companies have agreed to evaluate a potential partnership in areas such as electric vehicle battery technology and related systems, as well as semiconductor technology. Both parties have, to this end, now signed a memorandum of understanding.
“The two words that unify Polestar and SK are ‘performance’ and ‘sustainability,” said Polestar CEO Thomas Ingenlath, whose company recently announced its goal to create the first fully climate neutral car by 2030.
“With this MoU, we can evaluate the opportunity to jointly develop battery technology for high performing cars and other commercial offerings, with a focus to support our significant global growth plans.”
To date, Polestar sources its batteries from CATL and LG. With a deal fixed in 2019, Volvo Car Group will cover its needs for battery modules for all models on the SPA2 vehicle architecture and the CMA modular platform. The Polestar 2, among others, is based on the latter.
The Polestar-SK partnership review could touch on the supplier status-quo, however. Polestar plans to “launch several breakthrough vehicles in the coming years”. The company let this be known only recently, in the context of a capital increase.
Since its inception three and a half years ago, Polestar has developed its own manufacturing facility in China, established global distribution and launched two vehicles, Polestar 1 and Polestar 2.
In the UK, after the success of its 2020 test-drive programme, Polestar opened a new test-drive hub last month in Milton Keynes to meet demand. The hub will offer over 7,000 consumers the opportunity to experience the Polestar 2 before the end of the year.
May saw Polestar open a new test-drive hub in Milton Keynes.
SK Group, for its part, is considered South Korea’s third-largest industrial holding company. It operates more than 120 companies in the fields of semiconductors, batteries for electric vehicles, energy and telecommunications and, according to its own figures, employs more than 100,000 people worldwide. The battery division SK Innovation has come to the fore in connection with e-mobility.
“We see the growth potential of Polestar and are looking forward to evaluating possible collaborations in what will be an exciting journey,” commented Dong Hyun Jang, CEO of SK Group, on the signing of the memorandum of understanding.