Polestar, the nearest thing that Europe has to an electric premium… Polestar, the neares

Polestar, the nearest thing that Europe has to an electric premium… Polestar, the nearest thing that Europe has to an electric premium car start-up such as Tesla, is set to increase investment in its British operations. The zero-emission car spin-out from Volvo that has been bankrolled by Geely, the Chinese automotive group, will expand its research and development division near Coventry, in the West Midlands, from 280 engineers to 500 as it strives to make its car’s chassis as lightweight as possible to compensate for the heavy weight of the car’s batteries. Polestar’s research and development facility is based at Ansty, where Geely manufactures the LEVC hybrid black cabs for the London taxi market. Geely also owns Lotus, the British sports car manufacturer, which is converting itself to an all-electric future. The engineers at Ansty, many of whom are from Formula One or other niche sports car backgrounds, have been given the task of coming up with a commercial means of producing non-welded bonded aluminium car bodies at volume. Ansty has been charged with bringing the new Polestar 5 model from concept to reality. This futuristic four-door hatchback will challenge the Porsche Taycan, the Tesla Model S, the Lucid Air, and the Mercedes-Benz EQS. The Polestar 5 model will offer dual electric motors, a competitive driving range, and eco-friendly interior materials. Based on the stunning Precept concept, the Polestar 5 will be an all-new model for the fledgling Polestar brand when it eventually reaches the market. Polestar has said that it will feature a bonded-aluminium platform that will maximise lightness and rigidity. Due to be in production from 2024, the Polestar 5 will be aimed at the same market as the Model S, Tesla’s second most expensive model. Thomas Ingenlath, Polestar’s chief executive, said: “Our UK research and development team is one of Polestar’s greatest assets. Their mix of engineering and technological expertise will set Polestar apart in the years to come.” 1) Describe the target segments and how Polestar 5 model can meet their needs.2) Propose four (4) detailed marketing mix recommendations on how Polestar 5 can be positioned in the UK market. Arts & Humanities Communications Marketing MARKETING MKT701 Share QuestionEmailCopy link