Polestar Shares Are Trading Higher: What's Driving The Action?

Polestar Automotive Holding UK Ltd PSNY shares are trading higher Wednesday. The company announced the start of production for Polestar 4.

What Happened: Polestar said it officially commenced production of its Polestar 4 vehicle. The first one has rolled off the assembly line at Hangzhou Bay factory, which is powered by renewable electricity. The Polestar 4 will have the lowest carbon footprint of any Polestar car at launch. 

"The first Polestar 4 rolling off the production line today is the culmination of hard work from countless colleagues and partners," said Thomas Ingenlath, CEO of Polestar. 

"Polestar 4 stands out in design and performance, a remarkable SUV coupé in many ways. It is the first Polestar to feature a virtual rear window with world-class digital rear-view mirror."

Polestar said additional manufacturing will be added in Busan, South Korea, for the local market and export to North American markets beginning in the second half of 2025. 

See Also: Not Cybertruck, But This EV Is Ray Of Hope For Tesla's Continued Success, Says Analyst

PSNY Price Action: Polestar shares were up 4.6% at $2.27 at the time of publication, according to Benzinga Pro.

Photo: courtesy of Polestar.