During Automotive News Europe Congress held in Prague, Polestar CEO Thomas Ingenlath announced the automaker’s first SUV Polestar 3 will cost between €75,000 euros and €110,000 in Europe before any EV incentives. The model will feature a dual-motor drivetrain and a large battery, with a range target of over 600 km (WLTP).
Polestar 3 mark’s the entrance of the Swedish EV maker to “one of the highest margin and growth segments in the automotive industry, particularly in the United States”, as Polestar recently said.
“It’s an SUV, which everyone loves, but it’s also very aerodynamic and very engaging to drive. It’s not a car to drive to the kindergarten,” said Polestar CEO.
As disclosed by Polestar, the model will offer autonomous highway piloting powered by the best-in-class LiDAR sensor from Luminar and centralized NVIDIA computing power.
“Polestar 3 is the SUV for the electric age. Our design identity evolves with this high-end large luxury EV, with a strong, individual brand character,” says Thomas Ingenlath, Polestar CEO. “With this car, we bring the ‘sport’ back to the SUV, staying true to our performance roots.” Thomas Ingenlath adds: “This is a major milestone for our company, one that boosts our growth trajectory and takes us into our next phase.”
Customers will be able to order Polestar 3 in initial launch markets from the day of the premiere and the production is expected to begin in early 2023 in the United States and China. The Swedish EV maker expects to sell 24,000 units of the model worldwide in 2023, increasing by 43,00 units to 67,000 in 2024 and 77,000 in 2025.
Earlier this week, Polestar announced it has delivered about 21,200 vehicles in the first six months of 2022, reiterating its annual guidance of 50,000 units. For the second half of the year, the company expects to deliver about 28,800 vehicles, a rate of pace of 4,800 units per month.
From the first half of 2021 — when Polestar delivered 9,510 units — the Swedish EV maker increased its delivery numbers by 123% while the global order book rose to 50,000 since the start of the year, a 350% from the same period in 2021.