Polestar 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 evaluate possible collaboration in areas that include EV 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.
SK Group operates more than 120 businesses across the semiconductor, electric vehicle battery, energy and telecommunication industries and has about 100,000 employees across the world.
The Polestar 2 model range includes three variants with a combination of long- and standard range batteries as large as 78kWh, and dual- and single motor powertrains with as much as 300kW/408hp and 660Nm.
Its Polestar 1 is a low-volume electric performance hybrid GT with a carbon fibre body, 609 hp, 1,000 Nm and an electric-only range of 77 miles – the longest of any hybrid car in the world.
Thomas Ingenlath, Polestar CEO said, “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 added, “We see the growth potential of Polestar and are looking forward to evaluating possible collaborations in what will be an exciting journey.”