Polestar, the Swedish electric performance car company, is exploring a wide-ranging alliance with SK Inc, South Korea’s third largest industrial holding company, to advance its development of high-performance electric cars.
The two companies have signed a Memorandum of Understanding (MoU) that paves the way for them to collaborate in areas that include electric vehicle battery technology and associated systems as well as semiconductor technology.
The scope will also include potential commercial opportunities such as battery supply for upcoming vehicles.
Both companies will now conduct technical, sustainability and cost feasibility studies for each area to evaluate partnership potential. Polestar expects to provide further details of the outcome of these talks in the future.
SK Group operates more than 120 businesses across the semiconductor, electric vehicle battery, energy and telecommunication industries with over 100,000 employees worldwide.
Thomas Ingenlath, Polestar CEO. says: “The two words that unify Polestar and SK are ‘performance’ and ‘sustainability. With this MoU we can evaluate the opportunity to jointly develop battery technology for high performing cars and other commercial offerings, with a focus to support our significant global growth plans.”
Dong Hyun Jang, CEO of SK Inc. adds: “We see the growth potential of Polestar and are looking forward to evaluating possible collaborations in what will be an exciting journey.”
Polestar is the independent Swedish premium electric performance car brand founded by Volvo Cars and Geely Holding. Established in 2017, Polestar is expanding into eight new markets across Europe and Asia Pacific.