Polestar closes final China store, shifts to online sales

2 min to read

Oct 13, 2025 11:46 AM CEST

Adrian Leung

Polestar closes its last direct retail location in China, shifting focus to digital sales. Credit: Auto-home

Understand China EV’s Market

Real-time notifications when critical EV data is released

All important data in one place

2,000,000+ data points

Become a member

Polestar officially closed its final direct sales store in the Chinese market. The store was located at L+Plaza in Qiantan, Shanghai, according to Auto-home. The company stated that this move is part of a strategic adjustment to its China business model. It emphasized that other operations in the country, as well as customer rights, remain unaffected. Polestar now primarily sells its vehicles through online channels.

Earlier this year, in June, Polestar secured a 200 million USD equity investment from PSD Investment, a company partly owned by Li Shufu, the founder of Geely Holding. The deal involved a private investment in public equity (PIPE), through which Polestar issued approximately 190.5 million new Class A American Depositary Shares (ADS) at 1.05 USD per share.

After the transaction, Li Shufu is expected to hold a total of 66% of Polestar through PSD Investment and Geely’s Swedish subsidiary. PSD Investment will convert 20 million Class B ADS into Class A shares to maintain its total voting power below 50%. As of now, Polestar’s market capitalization is reported at 21.7 billion yuan (approximately 3.08 billion USD), with debts reaching 51.2 billion yuan (approximately 7.25 billion USD).

Polestar’s new large four-door electric GT, the Polestar 5, made its debut at the 2025 Munich Motor Show. The vehicle will have a starting price of 992,700-1,185,200 yuan (approximately 118,600-141,600 USD) overseas. The Polestar 5 is built on a new modular aluminium platform developed at the Polestar Mira testing centre in the UK, which will also underpin the upcoming Polestar 6 expected in 2026. The car uses a dual-motor all-wheel-drive system producing 650 kW (884 hp) and 900 N·m of torque, with a 0-96 km/h acceleration time under three seconds and a WLTC range of 480 km. The vehicle can recharge roughly 160 km of range in five minutes.

In China, Polestar currently offers three models-Polestar 2, Polestar 3, and Polestar 4-priced between 299,800 and 798,000 yuan (approximately 42,600–113,400 USD). Globally, the brand sold about 44,900 units in 2024, a 15% decrease from the previous year.

In the Chinese market, annual sales have been as follows: