| 3:04 AM EST

Volvo Opens Factory in China for Polestar Exports


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Volvo Car Corp. has launched production at a new factory in Chengdu, China, and will begin exporting high-performance hybrid Polestar I coupes to Europe later this year.

The facility aims to build only 500 coupes per year. Shipments of the cars to the U.S. will begin in 2020. Polestar confirmed last year that the Polestar I will have a base price of $155,000 in the U.S.

The sport coupe is expected to have an all-electric range of 93 miles. A 2.0-liter piston engine and two electric motors will produce a combined 600 hp and 738 lb-ft of torque. The two-door is scheduled to be followed by the Polestar 2 midsize sedan later in 2020 and by the Polestar 3 large crossover vehicle in late 2021.

Volvo plans to offer Polestar models in the U.S. through a two- or three-year subscription plan with single monthly payments that cover the cost of the car, financing, insurance and routine maintenance.

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