Polestar forms joint venture with Xingji Meizu to strengthen position in Chinese EV market.
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Polestar forms joint venture with Xingji Meizu to strengthen position in Chinese EV market.

Partnership between Polestar and Xingji Meizu combines design expertise and software development to create a seamless digital ecosystem for Polestar vehicles in China.

A subsidiary of Polestar Automotive Holding UK PLC has announced a strategic joint venture with Xingji Meizu Group, a prominent technology company. This collaboration aims to leverage the respective strengths of both companies and revolutionize the in-car experience for Chinese consumers.

The joint venture will see Polestar joining forces with Xingji Meizu, renowned for its expertise in software and consumer electronics hardware development. By merging these competencies, the two entities intend to transform Xingji Meizu’s existing technology platform, Flyme Auto, into a seamlessly integrated operating system for Polestar vehicles sold in China.

The collaboration will focus on enhancing various aspects of the Polestar driving experience, including in-car applications, streaming services, and intelligent vehicle software. In addition, the joint venture will explore the integration of mobile and augmented reality devices, as well as customer apps, to create a comprehensive and user-friendly digital ecosystem.

To ensure the successful implementation and operation of the joint venture, Polestar plans to transfer approximately 130 commercial staff members from its Chinese operations to the newly formed company. This transition will establish the joint venture as the sole authorized sales and service entity for Polestar vehicles in China.

Under the terms of the agreement, Polestar will hold a 49% equity stake in the joint venture, while Xingji Meizu will own the remaining 51%. It is worth noting that Xingji Meizu will also assume responsibility for securing additional financing for the joint venture beyond the initial capital contributed by both companies.

The strategic partnership between Polestar and Xingji Meizu reflects the companies’ shared vision of delivering innovative, technology-driven solutions to the rapidly expanding Chinese EV market. With Polestar’s renowned design expertise and Xingji Meizu’s prowess in software development, Chinese consumers can look forward to a seamless and immersive driving experience in the near future.

Thomas Ingenlath, Polestar CEO, says: “China is one of the fastest growing EV markets in the world. It’s also a market with very specific consumer trends, including increasing levels of integration between consumer electronics devices and vehicles. By partnering with a company that has a strong complementary competence to our own, we will be able to offer the locally tailored user experience that both drivers and passengers expect.”

Ziyu Shen, Xingji Meizu Chairman, says: “The future of our industry will be enabled by integrated devices and platforms that deliver an immersive experience for end users. With the support of the progressive technology of Xingji Meizu, Polestar will take the lead in the field of smart mobility. By working closely together, we will create even better products and offer users a seamless experience across a multitude of devices.”

Also Read: New Energy Vehicle Sales Surge in First Quarter of 2023, Reaches 2.656 Million Units.

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