Polestar, Volvo’s electric car sister brand, announced the world premiere of its next vehicle, the “electric performance SUV” Polestar 3, in October 2022. In advance, the Swedes published a concrete view of the model after the first teasers.
Polestar 3 is the first SUV model in the range. According to the company, this opens up one of the fastest growing segments and the highest margins, especially in the US. The model will also enable autonomous driving on the highway “just in time”. At launch, the Polestar 3 will be equipped with all-wheel drive and a large battery to achieve a range of over 600 km under the WLTP standard.
Production is scheduled to begin in early 2023, and the Polestar 3 will be built in China and the United States. “Our design identity continues to evolve with this large, high-end luxury electric vehicle that has a strong individual brand personality,” said Polestar 3, the SUV of the electric era. “With this vehicle, we’re bringing back” The sporty character “to an SUV, true to our performance roots.” Polestar 3 will accelerate the growth of the brand.
Polestar has announced that it will launch a new vehicle each year for the next three years, starting with Polestar 3. By the end of 2023, the company aims to expand its presence to at least 30 global markets. Global sales of about 29,000 vehicles in 2021 are expected to increase tenfold, reaching about 290,000 units by the end of 2025.
Polestar only wants to introduce electric cars, and the Polestar 1 hybrid coupe is being phased out. The portfolio currently consists of the Polestar 2 mid-size sedan. In addition to the Polestar 3, a mid-size SUV and sports sedan are also planned. There could also be a roadster.
To fund its plans, Polestar plans to go public on the Nasdaq as part of a proposed merger with investment firm Gores Guggenheim. The project is expected to be completed in the first half of 2022.