Swedish electric performance car company Polestar has announced that it will unveil the company’s first SUV, the Polestar 3 electric performance SUV at a world premiere this coming October.
The Polestar 3 will take the company into one of the highest margin and growth segments in the automotive industry, particularly in the United States and it is expected that customers will be able to order the new Polestar 3 in the initial launch markets from the day of the premiere in October, with production expected to begin early next year. The car will be manufactured in both the United States and China.
The plan is that Polestar 3 will in due course offer autonomous highway piloting powered by the best-in-class LiDAR sensor from Luminar and centralized NVIDIA computing power. Initially Polestar 3 will feature a dual-motor drivetrain and large battery, giving it an impressive range of over 600 km (372.8 miles).
Thomas Ingenlath, Polestar’s CEO, commented:
“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. With this car, we bring the ‘sport’ back to the SUV, staying true to our performance roots.
“This is a major milestone for our company, one that boosts our growth trajectory and takes us into our next phase.”
The company plans to launch a new car every year over the next three years, starting with the Polestar 3. The aim is to increase its presence in at least 30 global markets by the end of 2023, helping the company to grow ten-fold from global sales of approximately 29,000 in 2021 to approximately 290,000 by the end of 2025.
Polestar is also intending to list on the Nasdaq in a proposed business combination with Gores Guggenheim, Inc. which is expected to close in the first half of this year.
Simon Burrell is Editor of Our Man Behind The Wheel, a member of The Guild of Motoring Writers, professional photographer and former saloon car racing driver.
Photograph courtesy of Polestar