Polestar unveils $84,000 electric SUV, Polestar 3, to cement U.S. foothold

Polestar 3

Courtesy: Polestar

Swedish EV maker Polestar on Wednesday unveiled a new electric powered SUV that it really is counting on to grow its sales and presence in the United States.

The new design, identified as the Polestar 3, is a 5-passenger EV that the firm describes as a “overall performance SUV.” It’ll start with a 111 kilowatt-hour battery and a dual-motor configuration that provides up to 517 horsepower with an estimated 300 miles of EPA-rated range.

Priced at about $84,000, the auto arrives loaded with technological know-how, including an Nvidia personal computer managing advanced driver-assist software created by Polestar’s component operator, Volvo Autos.

Only one particular edition of the Polestar 3 will be readily available at launch, however less expensive trims are predicted to observe. An optional “Pilot Pack” will increase a Luminar lidar device and other sensors necessary for autonomous driving, which Polestar expects to make readily available in the foreseeable future by means of an above-the-air update.  

It’s a stage up in size, overall performance, technological know-how and price tag from the company’s present-day product, the Polestar 2 crossover, which begins at all around $48,000. The Polestar 1 was a minimal-creation hybrid coupe, now discontinued.

It can be also a little something of a step up in value from what will likely be its key competitor: Tesla’s Design Y, which expenditures about $70,000 in related twin-motor trim. One more probable rival, BMW’s all-electrical iX SUV, commences at about $85,000.

The Polestar 3 will be constructed in China, starting up future year, and in the U.S. — at a Volvo Cars manufacturing facility in South Carolina — starting in mid-2024. Deliveries are expected to start in the fourth quarter of 2023.

Polestar expects to produce 50,000 autos to prospects all-around the planet in 2022. As a result of September, it experienced shipped about 30,400, it claimed previous week.

Polestar is a joint undertaking in between Volvo Cars and Chinese automaker Geely, which has owned Volvo Autos given that 2010. Polestar went community through a merger with a unique reason acquisition company in June. Its shares have fallen about 58% given that.