Polestar forms joint venture with Xingji Meizu Group for Chinese market expansion

Beijing (Gasgoo)- Geely-backed electric vehicle manufacturer, Polestar, announced on June 19 that it will establish with Xingji Meizu Group a joint venture, which will be named “Polestar China” and target the Chinese market. 

Li Shufu at the signing ceremony; photo credit: Polestar

Polestar will hold a 49% stake in the joint venture, while Xingji Meizu will own 51%. Xingji Meizu will be responsible for arranging future financing for the joint venture. Xingji Meizu’s Chairman and CEO, Shen Ziyu, will be in charge of the Polestar China, overseeing the overall business development of Polestar in the Chinese market.

The joint venture will leverage Xingji Meizu's existing technology platform, Flyme Auto, to develop the Polestar operating system (Polestar OS) for Polestar vehicles sold in China. This includes in-vehicle applications, streaming services, and intelligent vehicle software. Approximately 130 business personnel from Polestar are expected to transfer to the new joint venture, which will serve as the authorized sales and service entity for Polestar in China.

This collaboration confirms earlier rumors of cooperation between Polestar and Xingji Meizu, aimed at integrating automotive and smartphone ecosystem resources. 

During the signing ceremony of the joint venture, Shen Ziyu stated that with the support of Xingji Meizu Group, Polestar China aims to rapidly become a technology company with intelligent interactive capabilities and accelerate market expansion in China, with "Polestar OS" as its core competitive advantage. 

Headquartered in Wuhan, Xingji Meizu Group was established on March 8 this year, following the business consolidation between Hubei Xingji Technology Co., Ltd. and Meizu Technology Co., Ltd.