China Securities News (Reporter Gao Gaifang) On November 16th, Polar Star (NASDAQ: PSNY) announced in Guangzhou that its pure electric high-performance SUV, Polar Star 4, will start delivery in the Chinese market in December, with delivery prices ranging from 299900 yuan to 399900 yuan. Shen Ziyu, Chairman and CEO of Jixing Technology, stated that Jixing car owners may become the first batch of car owners to be able to use Tesla charging stations.
It is reported that Jixing solves the charging problem by using its own brand built charging stations, sharing super charging stations with Tesla, and public energy replenishment stations as its three main support points. In terms of self built charging stations, Jixing plans to complete the construction of 60 charging stations in the first quarter of 2024. The first charging station was put into use in Guangzhou on the 15th of this month. At the same time, Polar Star will become Tesla's first batch of white listed car brands in the Chinese market, and polar star owners can enjoy a one-stop digital charging experience at Tesla's open site. In addition, Jixing has also selected leading mainstream operators for interconnectivity. It is expected to access over 550000 high-quality charging station resources in the first quarter of 2024, covering 331 prefecture level cities with a city coverage rate of 98%.
For Jixing, the timing of its efforts in the Chinese automotive market has brought together many favorable conditions. It is worth noting that the service network of Jixing Automobile is also expanding. Shen Ziyu stated on November 16 that by the end of 2023, Jixing's retail network will reach 55, and by June 2024, it will expand to 100 stores covering major first and second tier cities in China. Its after-sales network will also be composed of self operated, Volvo, and JD.com.
It is reported that in June this year, Geely Group Chairman Li Shufu announced at the Shanghai Jixing Automotive Headquarters that his high-end electric vehicle brand Jixing and Xingji Meizu Company would establish a joint venture company Jixing China, under the leadership of Xingji Meizu Chairman and CEO Shen Ziyu. Jixing will own 49% of the equity in the joint venture, while Xingji Meizu Group holds the remaining 51%. Xingji Meizu Group will be responsible for leading further financing beyond the initial capital according to the company's future needs.
Shen Ziyu stated at a press conference on November 16th that it is precisely the "bloodline" of smartphone manufacturers like Meizu that gives the Jixing electric vehicle an advantage in software. At the same time, the Jixing brand phones will also be available in March 2024. Electric vehicles without software support have no future, "said Shen Ziyu.
It is understood that Jixing Motors has been sold in 27 markets in Europe, North America, and the Asia Pacific region, delivering multiple mass-produced models such as Polestar1 and Polestar2 to users. Jixing China is headquartered in Shanghai and has Jixing spaces in key cities such as Beijing, Shanghai, Guangzhou, Shenzhen, and Hangzhou. The Polar Star 4, which is about to be delivered in mainland China, will continue to expand into overseas markets with traditional advantages, relying on China's strong intelligent electric vehicle ecosystem. It is worth mentioning that the Hangzhou Bay factory has Geely's most advanced production facilities, using 100% renewable electricity.
The IDG model of international brand, domestic production, and global distribution seems to have become the "standard answer" for the global development of new energy vehicles. As a new species of coupe SUV, the Polestar 4 combines the aerodynamic characteristics of coupe models with the advantages of spacious SUV models. At the same time, the Polar Star 4 is still the fastest model to achieve mass production from research and development, and has applied many design elements on the Polar Star Concept car for the first time.
The 2023 Guangzhou International Auto Show officially opened on November 17th, and the Polar Star will make its debut in Hall 19.2 of the Guangzhou International Auto Show. In addition to the pure electric high-performance SUV Polestar 4 and the ultra luxury pure electric SUV Polestar 3, the second generation limited edition pure electric motorcycle CAKE Makka and mountain bike Allebike jointly launched by Polestar will also make their debut in China.