By Yilei Sun and Brenda Goh
BEIJING/SHANGHAI (Reuters) – An electric vehicle (EV) factory planned by Chinese automaking group Geely will produce cars under the premium Polestar marque, two people with direct knowledge of the matter told Reuters on Monday.
Zhejiang Geely Holding Group Co Ltd plans to build a plant with annual manufacturing capacity of 30,000 premium EVs in the western city of Chongqing, run by a wholly owned, newly registered company, showed documents on its website.
Geely and Polestar declined to comment on the marque.
The plan comes as foreign automakers including BMW AG <BMWG.DE> and Tesla Inc <TSLA.O> expand EV production in the world’s biggest market, sourcing major EV components such as batteries locally and often exporting the end product.
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