Polestar (NASDAQ:PSNY) CEO, Thomas Ingenlath, informed journalists that the luxury electric vehicle brand intends to commence production in South Carolina for the U.S. and European markets from 2024.

Currently, Polestar produces its three existing models from plants located in Chengdu and Taizhou, China, exporting them to various countries, including the U.S.

Additionally, the CEO mentioned during an auto show that production of the Polestar 4 is expected to begin later this year in Hangzhou Bay, China. Preorders for the Polestar 4 will be available in China starting today and in all other markets by 2024.

In 2022, Polestar delivered over 50,000 vehicles worldwide and aims to sell 80,000 this year, mostly through the Polestar 2 hatchback.