Written by Cláudio Afonso | LinkedIn | X
Electric vehicle maker Polestar announced on Thursday that will start offering a new entry level variant for its Polestar 3 model with the introduction of a new Long Range Single Motor variant.
A few days after announcing the 2025 Polestar 2, the brand under the Geely Holding Group continues the efforts to increase the demand as it prepares to finally report its financial results from late 2023 and first quarter 2024 in the upcoming days after several delays.
With a starting price of €79,890 ($85,400), the Polestar 3 — which is manufactured both in the US and in China — gets now a Long Range Single Motor for Europe while the North American and the Australian markets will be able to access it later this year.
This new entry-level variant features the same 111 kWh battery pack as the Dual Motor version, offering 250 kW peak charging capability, according to Polestar.
Earlier in the week, the company launched the refreshed Polestar 2, featuring design updates, a revamped pack structure, increased range, and more individual options. Since the launch of the first iteration, the company has delivered more than 160,000 units across the 27 markets.
The new model is now arriving in Europe and Canada, with other markets set to follow later this year, according to the brand under China’s Geely Holding Group.
From 2025 onwards, the Polestar 2’s pack structure will be aligned with its peers Polestar 3 and Polestar 4, offering more single options for a broader personalization as the company fights weaker-than-expected demand.
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Year-to-date, Polestar’s stock has plunged 68.88 percent, with a 52-week loss of nearly 81 percent based on Monday’s closing price.
Shares of electric vehicle (EV) maker Polestar surged 31 percent last week following the announcement of a new business model and expansion into seven new global markets. However, the gains were short-lived as the stock tumbled to a new all-time low of $0.66 per share on Friday.
On the last day of May, the company announced plans to file its Annual Report for 2023 on Form 20-F and release its preliminary unaudited financial and operational results for the first quarter of 2024 by the end of June.
Earlier, on May 1, Polestar disclosed its inability to file the 2023 Annual Report, which was originally scheduled for publication on February 29 before being postponed to April 30.
Written by Cláudio Afonso | LinkedIn | X
