Hello, everyone, and welcome to this strategy update from Polestar. My name is Stephanie Johansson, and today I'm joined by key members of the Polestar management to walk you through what is the company's biggest product offensive ever, announced today, but already in full swing.
This is Polestar. Performance is what we deliver. We started as a Swedish racing team. From day one, we've been obsessed with numbers, seconds, kilowatts, newton meters, grams of CO2. Try, measure, refine, repeat. We never stop pushing. We're not here to follow the rules. We're here to set a new standard. This is Polestar.
Michael, performance is what you deliver at Polestar. We sat together about a year ago. You laid out your plans for the company. How has 2025 gone?
2025 was a very exciting year, a year of dedicated execution at Polestar, and we are doing the right things. As Europe's only pure EV player, we deliver electric performance cars. The future is fun, beautiful, and sustainable, and there are many customers appreciating our young Swedish brand. In a difficult environment, Polestar delivered the best sales year ever. Globally, we grew by 34%, and in our home market, Europe, we grew over 50%. That is a very big success for our small team of less than 2,000 people working in 28 markets. I think we are the David of automotive industry, competing with many Goliaths. In conclusion, in 2025, we created a strong base from which to continue to build upon.
I know changing your entire sales model and really building on your sales, your retail sales network, that's been a huge focus area this year. How has that gone?
We at Polestar, we deliver premium cars. This means customer experience is of highest importance, and dealers play a key role for our success. They are the face of our unique brand to customers. We transform from showing to active selling. More and more dealers invest into Polestar, want to participate in our growth. We grew from 140 to 210 sales points in 2025, and we grow by 30% in 2026. We have another big advantage to many of the EV competitors. Our Polestar customers have access to over 1,200 service points through the Volvo Cars service network.
The next step on this journey, obviously, are the cars, the model lineup that's in store, so tell us about that.
Yes. At Polestar, it's our mission to deliver the performance cars of the future, and today, we already have over 230,000 cars on the road. That is a lot for a young brand from Sweden, but of course, we want more, and today, we announce the biggest product offensive in our history. Four cars planned within three years. More models addressing wider segments, larger profit pools at record speed. So let's go through one by one. Polestar 5, our four-door GT, our halo car. Delivery is expected to start this year in the summer. Polestar 4, our global bestseller with over 40,000 cars delivered in the last two years. Now, we bring a new exciting variant to launch later this year, and deliveries are expected already in the fourth quarter of 2026.
Polestar 2, the sedan that we built our brand upon, lives on through completely redesigned successor, planned to launch in early 2027. Polestar 7, our compact SUV, planned to come in 2028. Polestar has the strongest model lineup of all EV brands, and I am super excited. We will share later with our head of design, Philipp Römers, a few more details and teaser of the upcoming cars.
So looking then a little bit more into detail into the near future, you've talked about the changing sales model. We just heard briefly about the new cars coming. What will the near future look like?
First off, we will continue to grow in a disciplined way. With this approach, we are targeting low double-digit volume growth in 2026. We expect to see improvements in channel and product mix. When we come to report 2025 full year results, we will speak about financial outlook using the 2025 results as a reference point, of course, and setting direction.
Polestar is a very young brand. It's a fast-changing market. How big is this opportunity for you, and what position will you take in this EV transition?
It is a very big opportunity. There was never a better time to challenge the status quo in the automotive industry, and there are huge changes, electrification, software-defined vehicles, autonomous driving, AI features. We are really witnessing an historic disruptive time. We challenge the old industry with our Swedish design, our performance DNA, and our uncompromised commitment to sustainability. Many legacy brands sell cars to people who might buy already their last car. Polestar sells cars to customers who will shape the future. With an average age of 45, our customers are around 10 years younger than the ones of many competing premium OEMs. We are already outselling performance brands with over 75 years of heritage in EVs in Europe, and of course, that's just the start. With our product offensive, we make our premium brand now more accessible. Polestar is the future, and it happens right now.
It'll be an exciting journey to follow. Thanks, Michael. Let's now move on to our next chapter, sustainability.
This is Polestar. Sustainability is where we start. Sustainability isn't a feature, it's a decision made every day. While others keep adding, we keep reducing. While others hide the uncomfortable truth, we publish the footprint of every car we make and work relentlessly to lower it. The industry doesn't make change easy, but we're not here to follow the rules. We're here to set a new standard. This is Polestar.
Welcome, Fredrika.
Thank you.
As we just saw in the film, it all starts with sustainability at Polestar, but is that still true given everything that's going on in the world right now?
It's never been more true. Yes, there are powers who are trying to cling to the past and hinder progress, but this is really a sign of the transformation that is happening, and like Michael said, it's disruptive. We're seeing facts that can support this. I mean, renewable energy, renewable electricity overtook coal power last year. Right now in Europe, there's more electrified cars sold than petrol ones, and there's also a global support among people all over the world for these solutions. There's a silent majority that we often talk about, who wants us to take climate action. So we are really here for them, to show that we are sticking to what we have set out to do, and that we can deliver clear solutions to them. And the solution that we, of course, want to talk about is electric cars.
This is an impactful climate solution that we should all accelerate.
How would you say all these ambitions are reflected in the cars themselves?
Yeah, so that's when it gets exciting for us at Polestar because, of course, we love design. We're a design-driven company and a tech-driven company. So what we do in terms of sustainability is to really capture this in the car, in the design of the car, and the technologies in the car. And it's also really important for us as a young, growing company to show that we can decouple our growth from climate impact. And over the last few years, we've actually been able to cut emissions per sold car with 25%, and this all comes down to the solutions that we make for our cars. For example, bringing in low carbon metals, more recycled materials. Also showing that we can open up our supply chains and make them more transparent through traceability.
And all of this, we want to show to our customers. This is relevant and important to them. So our focus is really on the cars.
We at Polestar show what's possible. We create highly desirable performance cars, and you know what? You don't have to regret anything. The future can be fun and sustainable at the same time. And yes, some politicians and companies are scaling back on sustainability. Another reason for us at Polestar to accelerate. Our brand has clear values, and customers appreciate it a lot in a more and more confusing world. Customer want this, and especially our younger customers. Sustainability is key in the private and even more in the fleet business. It's also an important differentiator when we recruit talent. We at Polestar are highly committed. It's our purpose to contribute to a sustainable future. And big thanks to Fredrika and her team, but also to all Polestars out there. We are doing the right things.
The company, I know, has announced plans earlier to produce a climate neutral car, the Polestar 0. What's the status on that?
So this is a very important project for us, and to my knowledge, it's a world unique project where we as a car company research and develop climate neutral materials to be able to produce climate neutral cars, and in the end, reach our target that we have set. In 2040, we will become climate neutral as a company, and it's not only important for us in that sense, it's also really important for the industry as a whole. This will be the materials that we will use in a climate neutral world. And what we're doing right now is that the project is now housed within something that's called Mission 0 House. So we've opened up and created a more collaborative space, where other partners can join in. We have 11 companies and organizations and institutions joining us now in the research.
There are very hopeful things coming out. For example, SSAB, the Swedish steel maker, who has been a part of the project for a long time, has actually put climate neutral steel on the market, SSAB Zero. So this is what we want to do with the project. We want to create these solutions that we can use today. Also, really, sharing hope that this is realistic and can be done. And we've also secured funding, $10 million, that will enable us to do this work in the coming years. But in the end, we need more. We need more partners joining us. This is really a collaborative project. We cannot do it alone. So I really welcome others who want to participate and join in.
You're well on your way, but collaboration is key to make this happen?
Yes.
Yes. Thank you so much, Fredrika.
Thank you.
Now let's move on to our next chapter: design.
This is Polestar. Design is how we solve. We put design first in every sense, not as decoration, but as a direction, a tool for reduction, a force for change. Every yes we say is a result of everything we refuse. But we're not here to follow the rules. We're here to set a new standard. This is Polestar.
Welcome, Philipp. So just a little over a year into this new job, what can you tell us about the future design language of Polestar?
First of all, I'm super excited to be here today, but let's start with 2025. In the first half, we thought about the strategy, how to move forward, and in the second half of 2025, we executed already. Quite soon we came to the conclusion that we aim for a bold evolution rather than a revolution, for certain reasons. Polestar is still a quite young brand. It's all about brand awareness and consistency here, and so that's why we really aim for a bold evolution. Standing still is no option here. We wanna emphasize a little bit our performance topic, of course, accompanied by our other core values: design and sustainability.
What does that mean, then, in practice?
I mean, we have four areas in design: exterior, interior, color and trim, and UI and UX. Starting with exterior design, today's cars are quite robotic and characterful, which is good, and we aim for characterful cars, no question. But in the same time, we wanna become a little bit more emotional, central, dynamic, to express the topic of performance. That's one thing to go. And then, also one area on exterior design is quite worth to mention here is the front, because the front is the face of the car. And, we have already our Dual Blade headlights in place, and, that's quite a strong graphic, and we will keep it, but we will integrate them differently into our front end. So you will clearly see that's the next generation, but in the same time, it's a Polestar.
So that's exterior design. And then on the cabin side, we are well known for our clean, Scandinavian interior design language, and we will keep it, of course. But in the same time, we wanna become a bit more driver-oriented in order also here to express the topic of performance. We will also bring back some buttons here in order to have the perfect balance between the digital and physical world. Then, of course, the cabin is super dependent on materials and we are well known here for our sustainable innovative, yet sophisticated materials, and we definitely will keep track here. But we wanna make it a bit more expressive and colorful. That's the way forward in both interior and exterior design. And then last but not least, UI, UX.
We won lots of awards because we have such a straightforward customer experience here, and we wanna, we don't wanna overcomplicate here, but in the same time, we aim for a bit more personalization here and there, and also latest technology, AI-driven, bring some new ideas here. So, overall, we have a plan also on this field. Yeah, to sum it up, I'm super excited and also convinced that we have a very, very good plan, and yeah, this plan happens right now, and the cars are coming quite soon already.
Yeah, let's talk about all these models that are coming. As you mentioned earlier, Michael, Polestar 5 is the first one to hit the market, and I'm curious to know kind of what the reactions have been and what your thoughts are on this car.
Well, on the Polestar 5, we had fantastic reviews so far. Car expert literally fall in love with this performance GT, and of course, that includes myself, too. It is literally our brand on wheels because it combines what the Polestar brand absolutely stands for: design, performance, and sustainability. This car brings the Polestar brand to the next level.
The next car to come, we're going to talk about the Polestar 4. There's a variant coming on it. It's already a global bestseller. So what are your thoughts on this model?
The Polestar 4 Coupe is a very big success. It has a very unique design language, great performance, and it has our lowest CO2 footprint with only 19.4 tons. The car won numerous awards and is our global bestseller. With our new variant, based on the same intuitive technology, we will once again set new standards. Philipp's design team and the product team did a magnificent job. Sweden is world-famous for estates and its SUVs are also world-class. And we will combine the space of the estate and the versatility of an SUV with a dynamic performance that is Polestar. There is no car like this on the market, and we bring it in record speed. Produced in South Korea, designed in Sweden, launched later this year. Deliveries are expected already in the fourth quarter of 2026.
I am absolutely convinced this car will attract many new customers to our Polestar brand.
The next car we're going to talk about, already coming in early 2027, is Polestar 2's successor, Philipp. I'm so curious to know, is it just a facelift?
Oh, no, it's an entirely new car, and I would even say it will set new standards in its segment. I would say it's a perfect embodiment of the design philosophy I was just talking about. Maybe, small story here, one of the first cars I drove at Polestar was a Polestar 2, and even in the BST version, so this was a special limited performance version, and of course, it impressed me heavily on its driving dynamics, but the overall look and feel was just quite stunning. And overall, Polestar 2 is a very, very iconic car with its three-box shape, and the successor will be a super modern incarnation of this iconic car. And just to give you here also some hints already, of course, on the front, you will see for the first time our new face.
Then, of course, the car itself will be quite characterful, yet sporty, and the interior will offer lots of driver orientation. So overall, it's, it's really, really good product, and it's happening quite soon.
Philipp and the team have done a great job. Since the day I joined, the ambition was to bring a Polestar 2 successor. And why is that? Because we delivered over 190,000 Polestar 2s so far. This car wrote history, and not just for our brand. It was the first car with Google built-in. This car made our brand known to the world. It has a very enthusiastic community. We will deliver the current model till the end of this year. It was very clear this successor needs to be very special. So we worked incredibly hard to bringing a successor as fast as possible. From the decision to launch, under 30 months, that is absolutely record speed. The launch is planned already beginning of the year, next year, 2027.
I would summarize it, the first Polestar 2 made us known, the Polestar 2 successor will play a key role for our future success.
There's more to come. We have one more model to talk about today, which is Polestar 7, Michael. So what role will it play in the lineup?
Polestar 7 plays a very important role in our lineup. And why is that? What cars are most customers searching and buying? The answer is compact SUVs. No segment is growing faster on a global scale. And we at Polestar, we don't build cars for ourselves, we want to create a sustainable impact for our customers. We are convinced that we can offer something very special to this customer group. Our teams are working on a stunning premium compact SUV, which will challenge many competitors in their backyards with our Swedish design, our performance capabilities, and sustainability DNA. And it will be built in our home market, Europe, planned to be launched in 2028. Enough teasing from my side. I guess, Philipp, you want to tease a bit more?
Of course. I'm also excited to tease something here. I mean, applying our design language on this segment is super exciting. You mentioned it, Polestar 7 will be a quite special, characterful, yet good-looking compact SUV and a perfect embodiment of our class-leading driving dynamics, both in exterior and also interior. Of course, you can imagine driver orientation, next level here, with latest technology, so probably more on that next time.
We'll look forward to that.
Okay.
Summing up then, Michael, four models in just such a short period of time, how will this position Polestar?
We are Europe's only pure EV player in pole position for success. We have strong retailers for a premium customer experience and will further extend our sales points. We have a world-class service network around the globe, thanks to Volvo Cars. We have access to the most innovative technology in record speed. We already have software-defined vehicles on the road, getting better through over-the-air updates. Also, in the areas of battery, AI, or autonomous driving, we will bring leading technology very fast. We have strong support from our shareholders, and we just delivered the best sales year ever in a challenging environment and are aiming to deliver another record year. Our young Swedish brand, built around design, performance, and sustainability, is challenging the status quo. Brand awareness is rising fast. We have an international top management team here in our headquarters in Gothenburg, from U.K., France, Germany, China, and Sweden.
I live now in Sweden for one and a half years, and yes, sometimes it's a bit dark and cold, but I learn a lot. It's a big advantage to be based in this innovative environment and I understand today much better why this country is so successful in building sustainable businesses and at the same time keeping its society much happier than other countries. This is a very unique mindset. Sweden is well known for challengers, and I don't just mean personalities like Pippi Longstocking or Zlatan Ibrahimović. There are many Swedish challenger brands which worked very hard, open-minded for innovation and competition, and ended up as global success cases. And I tell you, Polestar will be the next on this list. With that, thank you very much.
Thank you, Michael, and thank you, Philipp. That brings us to the end of our strategy update. We're going to move on to the Q&A, so please place your questions in the chat. But first, we'll begin with our analyst Q&A. Please take it over, operator.
Hello, everyone. I'm Anna Gavrilova, Head of Investor Relations at Polestar. Before we start the Q&A session, I would like to remind participants that some of our comments during today's strategy update may be considered forward-looking statements under the U.S. Federal Securities laws and are subject to numerous risks and uncertainties that may cause actual results to differ materially from what has been communicated. These forward-looking statements include, but are not limited to, planned vehicle launches, estimated sales growth, sales channel and volume mix, and target expectations, macroeconomic and industry trends, company initiatives, and other future events. Forward-looking statements made today are effective only as of today, and Polestar undertakes no obligation to update any of its forward-looking statements. For a discussion of some of the factors that could cause our actual results to differ, please review the risk factors contained in our SEC filings.
Now, I turn the event to the operator to open the Q&A session.
Thank you. To ask a question, you'll need to press star one and one on your telephone and wait for your name to be announced. To withdraw your question, please press star one and one again. Please stand by while we compile the Q&A queue. Our first question comes from the line, our first question comes from the line of Giacomo Reghelin from Bloomberg Intelligence. Please go ahead. Your line is open.
Hi. Hello, I hope you can hear me. I have two quick questions. One, the first one is about Polestar 7. In this environment of rising competition, I was wondering, what is the expected volume contribution of the Polestar 7? And, if you can give any guidance on the pricing point of the car. And then the second question is, if you can comment on the development of the plant in South Korea and, yeah, give any color on the production capacity, especially the capacity expected to be exported in Europe. Thank you.
Thanks for the question. So let's start with Polestar 7. As we discussed, the biggest segment probably in the market and also the fastest-growing segment. So the likelihood that this car will do very well in terms of volume is very high. But the same is true also for the cars we also unveiled and announced today, the Polestar 2 successor and also the Polestar 4 variant. So we think the segment size is big, and obviously, we want to get our fair share. In terms of pricing, obviously, too early to announce detailed pricing at this stage while the car comes in 2028. But we see that this car has a clear role as it is the entry into our brand, right? So it's a good start for the brand, so it will have an attractive pricing.
Again, the C SUV, the compact SUV segment, is one of the largest profit pools, and that's why we are so excited to go right into that, and the same is true for Polestar 2 successor and Polestar 4. In terms of manufacturing plant, South Korea, obviously, as you know, we have a global manufacturing footprint. We produce in the U.S., in the Volvo plant, we produce in China, and we also produce in South Korea. We already produce today the current version of Polestar 4 for the North American market. This factory is super competitive in terms of efficiency but also in terms of quality, so we feel very good about the launch of the new variant of Polestar 4, then going to the different markets. We are very flexible and very agile.
Those are the two feedbacks on the Polestar 7 and the manufacturing question.
Thank you very much.
Thank you. We'll now move on to our next question. Our next question comes from the line of Camille Obeid from Bank of America. Please go ahead. Your line is open.
Hello. I hope you can hear me. Camille Obeid from Bank of America here. Thanks for the presentation. So I have two questions, please. The first one is regarding, s o with every single model, there are new advancements. It was the SDV with the Polestar 3, and now you have the return of physical buttons that was announced recently. So with that in mind, what are the main developments going forward? How do you reconcile them, and what are the CapEx implications of those? And my second question is, the main message that I hear here is, volume growth. It's the key, and with that in mind, what would be the volume break-even point, which I think you mentioned at our conference back in September, would be around 100K. Did that number change?
To reach that number, what are the new advancements you expect with the changes of regulations that have been going on in recent months? Thank you.
Yeah, thanks for the two questions. So first of all, in terms of the direction with regard to our product, I think, first of all, it's important to highlight again, we focus very much on software-defined vehicles because that is the future. You can do many things once you have a core compute, you can do over-the-air updates. Customers very, very much love that. So that's a digital side, and I think that's really the future. At the same time, we want to find the optimal balance in terms also with physical buttons, because we want to make sure that customers really feel at ease while they are sitting in the car, and it's important that we find that balance, and that's why Philipp quite rightly highlighted, we will bring some buttons back, and that is being based on customer research and, and feedback.
And of course, with the, w ith regard to the overall product strategy, the fact that we go on group architectures makes us more efficient, right? And that's a very big benefit for us going forward, because we can always then use group architectures as the basis, while we then, combine it with the Polestar DNA. In terms of volume, yes, it is correct that I did say I feel better being above 100,000 than below, but that is not with regard to the break even. We will guide separately then when we come to closer events on that side. But of course, we go now right into the big segments of the EV market. That is a big difference and a big new chapter for Polestar, right? And that's why, obviously, volume growth is important. 2026 is the first step, but then, of course, more to come.
I think it's, it's very, very good news for Polestar that we go now right into the sweet spot of the EV market in the segments which are the biggest and also have the fastest growth rates, in particular, here in, in Europe.
Okay. Thank you.
Thank you. We'll now move on to our next question. Our next question comes from the line of Andres Sheppard from Cantor Fitzgerald. Please go ahead. Your line is open.
Hey, everyone, it's Anand on for Andres. Thanks for the update and for taking our questions. I was wondering, as we see autonomy emerging as more of a theme in EVs, my question is: Are there any plans to ramp up this technology with Polestar and monetize it?
Andres, thanks for the question. It is a key aspect of our business, and I think a key trend in the industry. And customers really appreciate that because it has to do with convenience but also safety. And it fits also very well, because on the one hand, we say, quite rightly, we are a performance brand, and our cars absolutely demonstrate that. But there are occasions for customers where, let's say, a higher level of autonomy is very helpful, is desired. And especially on our best-selling car, the Polestar 4, we have the cooperation with Mobileye as just one example. It shows we put a lot of focus on that, and we will share more details on that when we come closer to the launch of the new cars. But please understand that we don't want to talk about that already now.
But autonomous driving is a key topic for us going forward.
Gotcha. Thanks for the color. And, as a follow-up, as you ramp up and roll out these new models, I was wondering if you can remind us on your liquidity status, cash burn, and run rate, and what are your near-term capital needs in order to get these models going?
Yeah. So first of all, I mean, I'm sure you saw that we raised $700 million now in two rounds in 2025 and 2026. I think great signal of support from our shareholders, and obviously, we are executing on our plan while we go in this quarter and the next quarters, and we will give more color when we come to next events and obviously, when we also highlight the financial results for 2025.
Gotcha. Thanks again for the color and for the update. I'll pass it on.
Thank you.
Thank you. There are no further audio questions at this time, so I'll hand the call back to Stephanie for any written questions.
Thank you so much, operator. Let's now go to the questions from the chat. We have a question from Denmark for Fredrika and Michael, and this is about greenhouse gases. You've delivered a 25% reduction in greenhouse gases per car over five years. What are the next major steps that could drive a similar reduction?
So, I mean, I've been talking about Mission 0 House and what we need to do to get to net zero, but I really want to share with you a very hopeful message that we can cut the emissions right now. I'm not saying that it's not challenging, but we can do it, and it boils down to really understanding what are the major levers when you produce a car. So we've been focusing on aluminum and the batteries, securing renewable energy to the production of those components and materials. Going forward, we know there's a huge potential in steel, and also increasing, you know, recycled content throughout the car will have a major benefit for our greenhouse gas emissions.
Beyond that, we also need to see a greening of the charging grid, and here we see a positive trend, to say the least, on all of our markets, which really feeds into our company's greenhouse gas emissions. So, this is where we, of course, want to support that trend with vehicle-to-grid. This is a technology that we are exploring, which will have an amazing impact. And I usually say that while an e-fuel car would suck the energy out of the grid, a electric car with vehicle-to-grid capability really supports the electricity system going forward. So a lot to do now that we can take action on.
I think if I may add to Fredrika's points, I mean, super exciting to work on these innovations, like Vehicle-to-grid, just one example, right? I mean, this could change so many things, and we see our customers appreciate that a lot. It's very relevant, especially for fleet customers, but also for private, so we continue and execute, right? While everybody else is maybe talking somewhat differently, we accelerate our efforts, and we get a lot of positive feedback from our customers.
Okay, Michael, next one to you. There hasn't been any mention of Polestar 3 today, so what role will that car play for you in the future?
Very important role, and I think it's fair to say we have launched the car successfully. Now we come to a model year update, where we actually bring new technology into the car. The 800-volt technology is a very prominent example. So Polestar 3 plays a key role in our portfolio because it's absolutely a sports premium SUV. It has established itself in the segment. It's globally an important car, and of course, now also with model year new technology, we can go to the next phase, right? And so many new things come into this car, and it's exciting, right? And the reason why I haven't talked about this today, because, I mean, we have so many new cars, but Polestar 3 is really the heart of the premium positioning of Polestar and gets more popular every day.
Okay, and the next question: technology question. Will you continue to use Android Automotive in your future car models?
Yes, that is what we have planned for the future models, and yeah, we will continue with that.
Okay, next one. We've got a few questions from three separate outlets from, on the Polestar 2 successor. Maybe start with you, Philipp. How recognizable will the interior design be compared to the predecessor?
I mean, maybe it's too early to talk here in, in details, but I mean, already today, the Polestar 2 is quite driver-oriented, and, I mean, you can be sure that, the, the successor will, will take the next steps here, really in, in enhancing the topic of performance. So, we aim for really, making progress here on, on this, quite iconic, elements of today's Polestar 2, you can be sure, in both exterior and interior.
Michael, then to you about the Polestar 2. Will it be the new best seller, or do you think Polestar 4 will continue to be your best seller throughout 2027, is the question?
Well, I think we have actually three good candidates for the best seller, and all presented today. It is the Polestar 7 we talked about earlier in the discussion. It can also be the Polestar 2, and obviously, it can also be the Polestar 4. I don't know. Customers will decide, but while we laugh a little bit about it, the serious message and the important message is, again, we go right into the big segments, the big profit pools, where the growth is, and that's the new direction of Polestar, and I think we will benefit a lot from that. Just to give you a few data points, which are easy to remember, so today, Polestar is operating in 25% of the entire BEV market.
In future, with the cars we have presented today and will launch now within the next years, we will have a segment coverage of 55%, so that is more than double. That actually shows we go into the key segments of the market, and therefore, we think that we can grow, and we can grow in a very profitable way.
This is about sales, so we'll continue here. Nearly 80% of your sales come from Europe. Will, will that be the same in 2026?
I think it's very likely that it continues in this direction because what we do in Europe is very successful. A very prominent example is we just set up the business in France. We have 13 new dealers in France, all Volvo dealers. They also do the service, and we can replicate this success from other countries quickly in other European markets. All forecast institutions show that the BEV market in Europe continues to grow, so it's likely that European sales will continue to do very well. But the U.S. is also North America, is a big chance for us because we are just, while we speak, launching the Polestar 4, which is coming to the market. Early indications give very good feedback.
So while Europe is our key market, North America will stay important, and then also we have other markets, like Korea, Australia, which do exceptionally well. So in total, we have 28 markets, but yes, Europe will stay the key market for us.
A question from the U.K. media for you, Michael, a follow-up question about sales but about the retail sales points. What total number of retail sales points are you targeting?
Yeah, so as we said this today, so we came from 140. We went to 210 by the end of 2025. We target another 30% growth in 2026, but overall, I, I would think we come up to 350-400 points, right, globally, and it depends market by market, and it's not the sheer number. It's the quality and really the performance of the dealers. I would highlight one more time, it works extremely well working with Volvo dealers because, for them, it is an additional franchise. They can do the service together. There's very little cannibalization between the two brands because they are very well-positioned, very well-separated, but there are other markets where I think we will grow the number of sales points sharply.
For example, Germany is a good, important market, very competitive market, very high number of premium customers, and there we will increase the number of sales points a lot. But I think overall we will see further growth, but at the end of the day, it's about the quality and the performance of the dealers.
Okay, and I see we're running out of time, so let's have as a final question then to you, Michael. How will you make sure to keep the Polestar driving characteristics in your future models, given that you're working more and more with development partners?
Yeah, I think we saw that very clearly in Philipp's fantastic presentation, starting with the design, what we really want to have, what is our Polestar DNA? And obviously, we make sure that we integrate that in our platforms, right? That includes chassis tuning, the whole driving dynamics, and this works exceptionally well. The Polestar 4 is a prime model, documenting that we can do this very well, very well. That's our DNA. We will continue to do that, but we don't have to do everything ourselves, right? And I think that's also the future of the automotive industry, and, and we, we lead the way here.
Great way to finish off. Thank you so much to all of you today, and thank you to all of you for joining us today for this Polestar strategy update.
Is Polestar 5 one of the world's best performance GT cars? We'll let you decide. Is Polestar 5 one of the world's best performance GT cars? We'll let you decide. Is Polestar 5 one of the world's best performance GT cars? We'll let you decide. Is Polestar 5 one of the world's best performance GT cars? We'll let you decide.