Written by Cláudio Afonso | [email protected] | LinkedIn | X
Polestar, one of the electric brands from the Geely empire, announced this Wednesday the arrival of the Polestar 4 SUV to the US market.
The first deliveries are planned for the last quarter of the year with the model starting at $55,000 as the company faces extreme pressure from shareholders. Polestar shares closed on Tuesday at $1.27 per share and have shrunk 43.81 percent year to date as concerns on demand for its products persists.
The cheapest variant is a long range single motor that features a 100kWh battery with an EPA range of 200 miles. The rear wheel drive starts at $54,900 and does 0 — 60mph in 6.9 seconds.
After initiating production and early deliveries in China late last year, Polestar expanded sales to Europe and Australia this January. As of the end of March, Polestar had delivered 1,400 units of the Polestar 4 in China.
As online sales commence today in the U.S., production is scheduled to begin in the US during the third quarter. The brand delivered “approximately 7,200 cars” globally in the first quarter.
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The brand has recently revealed plans to manufacture the model in South Korea through a collaboration with Geely Holding and Renault Korea Motors (RKM).
On LinkedIn, CEO Thomas Ingenlath had recently addressed shareholders emphasizing the company’s commitment to succeed with the latest models 3 and 4. Ingenlath added also the final prototype of the Polestar 5 will be completed this year.
Earlier this year, Volvo Cars announced the plan to discontinue funding its Polestar electric sports car brand. On April 5th, the automaker announced that its shareholders agreed to distribute “a portion” of Volvo Cars’ stake in Polestar to its shareholders.
Written by Cláudio Afonso | [email protected] | LinkedIn | X
