Polestar (Nasdaq: PSNY) today presents an updated strategy, as the Company starts its next chapter, with significant changes being made to improve operational, commercial and financial performance.

With the coupe-like Polestar 4 already in production, the manufacturer will likely take a different approach with the Polestar 7.

Swedish electric car maker Polestar has announced it is working on a new car, called the 7, and that it will be produced in Europe.

It'll be the brand’s first vehicle built on the Old Continent, as governments put pressure on Chinese auto production.

The EV maker says the compact SUV will be aimed at “the world’s fastest growing and most profitable premium segment.”

Polestar targets a 30-35% sales growth and profitability in 2025, launching the premium compact SUV Polestar 7 in Europe.

Scandi EV brand Polestar has confirmed it will be launching a premium compact SUV EV, joining the fastest growing and most profitable market segment.

Polestar will add an electric four-door grand tourer to its lineup later this year, before expanding with another compact SUV later this decade.