Volvo Cars and Polestar have signed a Memorandum of Understanding for the partnership in the development and production of the 2028 Polestar 7 electric SUV.
Polestar’s upcoming 7 SUV (teaser below) will be a sporty, premium electric vehicle set to debut in 2028. It will use Volvo’s next-generation technology base, benefiting from shared components, Volvo’s latest electric motors, and cell-to-body battery design (integrated battery cells that are directly in the vehicle’s body or chassis structure).
The approach to the technology sharing creates driving efficiency and cost advantages, which will lead to a decrease in average cost per vehicle.
Volvo’s CEO, Håkan Samuelsson, said the MoU “underscores how Volvo Cars and Polestar continue to leverage synergies to efficiently deliver outstanding vehicles” for each brand’s customers. Polestar CEO Michael Lohscheller added that working with Volvo is a “unique opportunity,” giving Polestar access to Volvo’s latest tech in a cost-efficient way, and will help the Polestar 7 set “new standards in the premium compact SUV segment.” In short, the collaboration lets Volvo and Polestar combine Polestar’s sporty design and Volvo’s safety heritage.
The Kosice plant will be Volvo Cars’ third manufacturing plant in Europe and is intended to build only electric cars, unlocking Volvo’s ambitions towards electric car manufacturing and 0 carbon emissions by 2040. Volvo invested about €1.2 billion in the site, benefiting the mature Slovakian automotive supply chain. The plant is designed to produce up to 250,000 cars per year and should create several thousand jobs.
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