Polestar (PSNY) is expanding its retail and sales footprint, will enter seven new markets in 2025
EV automaker Polestar has announced several expansion plans for 2024 and 2025 as its portfolio of all-electric offerings continues to grow and hit new customers. In addition to expanding its own retail footprint, Polestar is deploying new non-agency sales models and has announced seven new markets it will begin selling to next year.
Polestar ($PSNY) remains a small but growing EV-centric brand backed by Geely out of China. The melting pot brand with European and Chinese roots is just starting to gain a foothold in the market on the wings of the Polestar 2, its flagship BEV model that has seen several refreshes since its initial launch in 2020.
Since that debut, the automaker has announced several new models in its pipeline, including the Polestar 3, which will soon begin sales and deliveries. That initial SUV will be followed by a more compact model called the Polestar 4 and a sports sedan called the 5.
In addition to China, Polestar has expanded BEV sales to certain European countries and the US, where the SUVs mentioned above will eventually be built.
As Polestar tries to expand its reach to new prospective customers around the globe, it has announced new levers to grow its retail and sales network and offer its incoming lineup of vehicles to additional markets like France.
Polestar expands and adjust sales model, join new markets
Earlier today, Polestar announced a new sales model that will expand its commercial footprint and retail operations in existing markets before moving outward to new ones next year.
The new strategy in Europe will include the switch to a non-agency sales model with the help of new existing partners in its current markets. That switch began in Sweden and Norway in early June and will be implemented in other European markets in the second half of 2024.
Despite the new non-agency model, Polestar said customers will still be able to configure a BEV of their own online and take delivery, or they can visit the automaker’s growing footprint of retail locations called “Spaces.” Per Polestar CEO Thomas Ingenlath:
Expanding our retail operations with new and existing partners will enable us to reach more customers. Through these partnerships and expansion, we will capitalize on our strong brand and growing model line-up.
As part of its new strategy, the company has also announced several personnel shakeups, including the appointment of Anders Gustafsson as the new head of Polestar North America, succeeding Gregor Hembrough, who is transitioning to the head of global sales operations. Gustaffson spent 13 years at Volvo Cars, including six years as the senior vice president of Americas and president and CEO of Volvo Cars USA.
Lastly, Polestar shared plans to expand BEV sales to seven new markets throughout 2025, including France – its second-largest EV market launch behind Germany. Other new markets include the Czech Republic, Slovakia, Hungary, Poland, Thailand, and Brazil, with the help of local distribution partnerships.
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Tesla has officially launched a new version of the Cybertruck RWD for $70,000 in the US and Mexico.
It’s more expensive than previously announced and loses a ton of features, but it has more range.
Earlier today, we reported on Tesla unveiling in the Middle East a new ‘Cybertruck Long Range’.
The automaker confirmed that it had a single rear-wheel-drive (RWD) motor, but unlike the previously announced Cybertruck RWD, Tesla said it had 350 rather than 250 miles of range.
This would point to having the same battery pack as the Dual Motor and Cyberbeast currently available.
At the time, it wasn’t clear if Tesla was launching this specific version for the Middle East or if it was the new Cybertruck RWD to replace the previously announced $62,000 version.
Now, Tesla has opened orders in the online configurator for the US and Mexico of the new Cybertruck Long Range RWD:
It starts at $70,000 before incentive – $9,000 more than the previously announced Cybertruck, but it has 100 more miles on a single charge at 350 miles.
It’s also $10,000 less expensive than the Cybertruck Dual Motor.
You not only lose a motor, but you also lose the powered tonneau. You can buy a “soft tonneau” for $750 and it increases the range to 362 miles:
The new cheaper version also loses the adaptive suspension, the lightbar at the back, the rear screen, and even the bed outlets, according to Tesla’s website.
Tesla says that deliveries are going to start in June.
Electrek’s Take
I might be wrong, but I would assume that the previously announced $61,000 Cybertruck is not going to happen. The Cybertruck is likely proving to be too low-volume to warrant producing different sizes of battery packs.
However, this version might be just to make the $80,000 Cybertruck look better.
It’s not to lose the AWD, the tonneau, the adaptive suspension, and even the bed outlets for $10,000.
These are all pretty essential features of the Cybertruck. I don’t think this version will sell much at $70,000. Maybe they get a few sales of people trying to take advantage of the $7,500 tax credit.
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![This electric excavator has battery swap tech that lets it recharge in minutes [update]](https://i0.wp.com/electrek.co/wp-content/uploads/sites/3/2025/04/electric-excavator.jpg?resize=1200,628&quality=82&strip=all&ssl=1)
The electric construction equipment experts at XCMG just released a new, 25 ton electric crawler excavator ahead of bauma 2025 – and they have their eye on the global urban construction, mine operations, and logistical material handling markets.
UPDATE: telematics announcement.
Powered by a high-capacity 400 kWh lithium iron phosphate battery capable of delivering up to 8 hours of continuous operation, the XE215EV electric excavator promises uninterrupted operation at a lower cost of ownership and with even less downtime than its diesel counterparts.
XCMG is delivering on part of that reduced downtime promise with the lower maintenance and easier repair needs of electric equipment, and delivering on the rest of it with lickety-quick DC fast charging that can recharge the machine’s massive battery in 1.5-2 hours … but that’s not the slick bit. The XCMG XE125EV can be powered up without leaving the job site thanks to its BYD battery swap technology.
We first covered XCMG and its battery swap technology back in January, and covered similar battery-swap tech being developed by MOOG Construction offshoot ZQUIP, as well – but while XCMG’s battery tech has been in production for several years, it’s still not widely known about in the West (even within the industry).
XCMG showed off its latest electric equipment at the December 2024 bauma China, including an updated version of its of its 85-ton autonomous electric mining truck that features a fully cab-less design – meaning there isn’t even a place for an operator to sit, let alone operate. And that’s too bad, because what operator wouldn’t want to experience an electric truck putting down 1070 hp more than 16,000 lb-ft of torque!?
Easy in, easy out
The best part? All of the company’s heavy equipment assets – from excavators to terminal tractors to dump trucks and wheel loaders – all use the same 400 kWh BYD battery packs, Milwaukee tool style. That means an equipment fleet can utilize x number of vehicles with a fraction of the total battery capacity and material needs of other asset brands. That’s not just a smart use of limited materials, it’s a smarter use of energy.
You can check out all the XE215EV’s specs at this tear sheet, and get an in-person look at the Chinese company’s latest electric excavator this week in Munich, Germany.
Telematics announcement at bauma
Earlier today, XCMG launched its next-generation Xrea Global Telematics Platform, integrating IoT, big data, cloud computing, and AI to enable what it’s caling, “seamless cross-border fleet management.”
The new telematics platform supports a dozen languages via PC and mobile interfaces, and offers real-time diagnostics, predictive maintenance, and data-driven optimization of both the vehicle and the vehicle’s batteries, empowering equipment managers and fleet operators to track fleets across town, or across time zones.
“XCMG remains committed to advancing engineering technology to empower a sustainable future. Our mission is to deliver efficient, intelligent, and eco-friendly lifecycle solutions for global clients,” said Mr. Yang Dongsheng, Chairman of XCMG Group and XCMG Machinery. “Today, 19% of our product portfolio comprises green innovations under our ‘Green Mountain’ new energy line, with full electrification across all series underway.”
SOURCE | IMAGES: XCMG; via PR Newswire.
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