Polestar, the Swedish electric car company, has announced that it will be releasing the Polestar 3 SUV in October. This electric performance SUV is the company's first.
Polestar 3 to be Revealed in October
Polestar hopes that the launch of its first-ever electric performance SUV will help the company enter the highest margin and growth segments in the auto industry, especially in the United States, where the vehicle is partially manufactured.
The automaker plans to update the Polestar 3 in the future by adding autonomous piloting powered by the LiDAR sensor made by Luminar and NVIDIA, according to Engadget.
The SUV is also said to feature a dual-motor drivetrain and a massive battery, with a range target of more than 600km or 372 miles. This means that it can run for days before it needs recharging.
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Polestar released the first image of the electric performance SUV, including a short film as a teaser.
Customers can order the vehicle during its initial launch in October, according to Financial Express.
The production of Polestar 3 will start in early 2023, and it will be manufactured in China and the United States.
Thomas Ingenlath, the CEO of Polestar, said that design of the Polestar SUV is similar to a luxury electric vehicle, complete with strong brand character.
Ingenlath also said that they wish to bring the "sport" back to the SUV, and they are hoping that the Polestar 3 will boost the company's growth trajectory.
The Swedish automaker plans to launch a new vehicle every year until 2025. The first one is the Polestar 3, and the company aims to increase its presence in 30 global markets by 2023.
The automaker also wants to increase its global sales from 29,000 in 2021 to 290,000 by the end of 2025.
Polestar also wants to list Nasdaq in a business partnership with Gores Guggenheim. Inc. The partnership is expected to be finalized by mid-2022.
Polestar's History of Electric Vehicles
Polestar has produced two electric performance cars so far. The Polestar 1 was manufactured between 2019 and 2021 as a low-volume electric performance hybrid GT equipped with a carbon fiber body, 1,000 Nm, 609 hp, and a range of 124 km, which is the longest of any hybrid vehicle in the world.
The Polestar 2 is the company's first fully electric, high-volume vehicle. The model range includes three variants with a combination of long-range and standard range batteries as large as 78 kWh, and dual motor and single motor powertrains that can go for 300 kW.
Since then, Polestar decided to launch one electric vehicle per year, starting with Polestar 3 in October, which is its first electric performance SUV, according to The Verge.
Polestar 4 is expected to follow in 2023, and it is the smaller version of Polestar 3.
In 2024, the Polestar 5 will be released. It is a 4-door GT that will showcase the company's future vision when it comes to technology, design, and sustainability.
By 2030, the company will release a climate-neutral vehicle, as all automakers plan to reduce their climate impact.
Related Article: Polestar Unveiles Convertible EV with Integrated Drone, Polestar OS
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Written by Sophie Webster
