Geely-backed premium EV brand Polestar has sold fewer than 50 Polestar 4 vehicles in China for the ninth consecutive month, as it faces increasing competition in the world’s largest electric vehicle market.
Sales of the model have plunged 89.5% in the first ten months of 2025, with just 161 vehicles registered up until October 31.
Last year, the company had registered 1,539 Polestar 4s between January 1 and October 31, data from China’s Passenger Car Association (CPCA) shows.
After eight months of selling fewer than six units per month, the brand sold 47 Polestar 4s in September and 37 in October.
The Polestar 4 debuted in November 2023 in China. The model is priced between 299,800 yuan (about $42,000) and 798,000 yuan ($112,000).
Portfolio and Production
In August, China’s outlet National Business Daily reported that Polestar sold only 69 vehicles in China during the first half of the year.
In April and May, no new vehicles had been recorded.
The figures sharply contrast with 2024, when the electric vehicle maker sold a total of 3,120 vehicles in China. Of those, 1,725 were Polestar 4s, representing more than half of the total registrations.
In the three prior years, yearly registrations had also been above 1,000 units.
Considering CPCA figures, the 69 units sold in the first half of 2025 were Polestar 4s, even though the Polestar 3 SUV and Polestar 2 sedan were also available in the market.
Although all the models can be configured, they are only accessible through the WeChat platform. The same applies to inventory and pre-owned units.
The Polestar 3, the company’s most expensive SUV, is manufactured in two locations: Chengdu, China, and at Volvo’s plant in South Carolina, in the US.
In late 2023, Polestar announced that in addition to its Chinese production plant, the Polestar 4 will also be manufactured at Renault Korea Motors’ Busan plant in South Korea, with production scheduled to begin in the second half of 2025.
The initial Busan production is expected to serve export markets (mainly North America).
Business Adjustments
Over the past year, Polestar‘s global management team has seen almost a complete turnover, including its C-level executives.
The company has also experienced significant leadership instability in China, with seven regional heads in just eight years.
China Business Daily‘s report two months ago noted that the company was also preparing to exit the Chinese market by the end of 2025.
In October, Polestar closed its last physical store in China.
Approached by the local media outlet Lanjinger, Polestar said that it is “strategically adjusting its business model in China to better align with the country’s diverse and rapidly evolving consumer demands.”
The EV maker will adopt an online sales model in the country, while continuing to operate showrooms across several markets overseas.
Overseas Markets
Its major markets are located in Europe, such as the Sweden and the UK, where Polestar has recently announced a new iteration of its Polestar 3 SUV, introducing several upgrades on performance, charging and processing power.
The model will start being delivered in the UK, “due to high demand and the previous model year being sold out in that market.”
In the US, however, the company has also been struggling with demand. October sales fell both year over year and sequentially to 260 units, according to Motor Intelligence data.
Nasdaq Warning
On October 31, Polestar received a formal notice from Nasdaq, warning that its shares had fallen below the exchange’s minimum $1 bid price requirement.
The company has until April 29, 2026 to regain compliance by maintaining a closing bid price of at least $1 for ten consecutive business days.
Shares fell further after the warning. Since hitting its yearly peak at $1.42 on August 27, the stock has dropped 46.5%. Polestar closed at $0.76 on Monday.
