With a successful first half of 2022, Polestar continues to expand with a large market share in electric vehicles. Although the Polestar 3 won’t make its official debut until October, CEO Thomas Ingenlath released information on the launch price of the car and how much it was expected to cost. Ingenlath also shared insights into pricing for Polestar’s next EV, which will be revealed in October.
Polestar was its own standalone EV brand in the fall of 2017, with the Polestar 1 PHEV and Polestar 2 BEV released that year. Both were updated this past May to include autonomous driving technology.
Although this company only has a limited presence on the market, they are expanding at an exponential rate. It only took them a matter of months to increase their sales by 125% in 2019 compared to 2018.
Polestar announced their listing with Nasdaq to celebrate after merging with Gores. They rang the opening bell on Wall Street.
The most exciting thing about Polestar, is that it has electric vehicles in the pipeline. That includes the Polestar 3 and 4 SUVs as well as the Polestar 5 sports sedan, based off of the Precept concept.
A new set of images has been released for Polestar 3- the Polestar 4 still remains under wraps by Volvo. One of the latest developments in this story is that pricing info on both the Polestar 3 and 4 have just been revealed by their company’s CEO.
Polestar 3 pricing: The SUV will start around $75,000
Mr. Ingenlath, the CEO of Polestar, told Automotive News Europe that the company intends to release the Polestar 3 SUV for $75,500-$110,800.
Polestar will introduce its first US built SUV with a premium design and pricing structure, in hopes that it can compete with the Cayenne from Porsche. Polestar believes in market share and wants to reach 124,000 electric cars globally by 2023. CEO Christian Ingenlath expands:
This SUV has everything that everyone wants in a car: great gas mileage, a good safety rating, and visibility from all angles. It’s not a vehicle for the pregnant parent to commute on, it’s meant to be driven on high-speed roads where you’re engaging with the ride.
Polestar made an announcement to sell 24,000 next-generation Polestar 3 EVs worldwide by 2020. A second model, the Polestar 4 will also be released.
Polestar CEO is on a roll, hinting at targets for 4 SUV
In a separate interview with CAR magazine, Ingenlath offered some insight as to what consumers can expect to see in the Polestar 4, even though the sheet hasn’t been pulled off it yet:
We have another SUV in our pipeline. The car is cheaper than the Polestar 3 and will still compete in a similar price range, with a shorter but more ground-hugging roofline, and slightly fewer interior feet.
As you can see in the image above the Polestar 4 car sits significantly lower than its SUV counterpart. If you look at the full spectrum image below that also includes the Polestar 2 and Polestar 5 prototype, you really get a feel for how low it is.
The new Polestar Three’s wheelbase will be similar to that of the SPA2 platform, which means an ample amount of space for the driver and passengers.
Range improvements
Polestar’s Polestar 4 may have a range improvement to help keep up with the increased demand. This, and other factors like improved aerodynamics and battery efficiency could make it the best seller in the company’s lineup.
The cost of the automaker’s encore to its Polestar 3 is yet to be determined, but it has some insight into where it hopes to land.
The Polestar 4 is the first model of its kind, in that it makes a huge statement while staying very competitive. This car is the first design to hit a segment where we hope to achieve €55,000 ($55,400) by 2019 [or earlier]. We plan on covering this segment with both the Polestar 4 and the evolution of our core model, which is still expected to come in around €80,000 ($81,920).
Polestar is a company that we can expect costs to come in lower with time. The goal of the initial launch models is $55,000. However, there remain unclear details on when they will lower their prices or what other benefits customers need to look forward to from ordering a Polestar 3 during this initial launch.
The Polestar 4 will aim to compete with the Porsche Macan, which currently exists only in ICE form but an all-electric version has been in development for years.
