08:31 AM EDT, 06/17/2024 (MT Newswires) -- Polestar (PSNY) said Monday it is expanding retail operations amid a new sales model being implemented across Europe, and that it expects to enter seven new markets in 2025.

Sweden and Norway already switched to a non-genuine agency sales model earlier this month, Polestar said, adding that it expects other key markets to follow suit in the latter half of the year.

Additionally, the company said it sees France as a significant opportunity, being the second largest volume market for electric vehicles after Germany. It is also looking to launch in Czech Republic, Slovakia, Hungary, Poland, Thailand and Brazil via local distribution partnerships.

Shares of the company were up 4.4% in recent Monday premarket activity.

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