Polestar joint venture for China

Polestar is entering into a strategic joint venture for the China market with technology company Xingji Meizu Group.

The joint venture is expected to strengthen Polestar’s offer in the Chinese EV market by bringing together Polestar’s capabilities within design and performance with the software and consumer electronics hardware development expertise of Xingji Meizu.

“China is one of the fastest growing EV markets in the world,” says Polestar chief executive Thomas Ingenlath.

“It’s also a market with very specific consumer trends, including increasing levels of integration between consumer electronics devices and vehicles.”

The joint venture will develop Xingji Meizu’s technology platform Flyme Auto into a seamless operating system for Polestar cars sold in China, including in-car apps, streaming services, and intelligent vehicle software.

This will be complemented by mobile and augmented reality devices and customer apps, creating a seamless digital ecosystem, says Polestar which expects to transfer about 130 commercial staff in China to the new company, which will be the sole authorised Polestar sales and service entity in China.

Polestar will own 49% of the joint venture company equity, with the remaining 51% to be owned by Xingji Meizu,which will arrange the joint venture’s future financing beyond the initial capital provided by Polestar and Xingji Meizu.

 “The future of our industry will be enabled by integrated devices and platforms that deliver an immersive experience for end users,” says Xingji Meizu chairman Ziyu Shen.

Xingji Meizu has about 2600 employees focused on developing a portfolio of mobile devices, and wearable smart devices that utilise extended reality technologies.

Its Flyme Auto operating system will be used in several EVs, including the Lynk & Co 08.

Xingji Meizu’s founder is Eric (Shufu) Li, Polestar owner Geely Holding Group’s chairman.

Polestar cars in the rest of the world will still feature infotainment systems powered by Android Automotive OS.