Volvo's Polestar opens China factory to export to Europe, US

Volvo Cars' performance electric car brand, Polestar, has opened a factory in western China to produce a gasoline-electric hybrid for export to Europe and the United States.

Polestar CEO Thomas Ingenlath said Tuesday exports of the two-door, carbon fiber Polestar 1 coupe start this year to Europe, priced at about 150,000 euros ($165,000).

Ingenlath said exports to the United States from the factory in Chengdu start next year.

Volvo Cars is owned by Chinese automaker Geely Holding.