Polestar Shares the First Image of the Polestar 3 Electric SUV Ahead of its October Debut
【Summary】Electric performance automaker Polestar has announced that the world premiere of its next electric vehicle, the Polestar 3 electric-performance SUV, will be in Oct 2022. The company released the first image of the electric SUV on Tuesday, which will be built at Volvo's factory in South Carolina beginning in early 2023.
Electric performance automaker Polestar has announced that the world premiere of its next electric vehicle, the Polestar 3 electric-performance SUV, will be in October 2022. Although details of the forthcoming Polestar 3 were shared at a media event in New York in Dec 2021, The company released the first uncamouflaged look at the electric SUV on Tuesday.
The Polestar 3 is the company's first SUV following the launch of the Polestar 2 fastback. The company will be entering one of the biggest vehicle segments in the U.S. as crossovers and compact SUVs remain widely popular with consumers.
The premium SUV market is one of the fastest growing segments in the U.S. auto industry and is expected to be one of the most rapid to adopt fully electric vehicles, according to Polestar.
The launch of the Polestar 3 next year means that segment leader Tesla will face more competition in the premium-electric vehicle segment.The Polestar 3 will be a direct competitor to the Tesla Model Y, as well as Ford's Mustang Mach E.
At launch, Polestar 3 will be offered with a dual-motor all-wheel drive powertrain and a large battery with a range target of 372 miles. Customers will be able to order Polestar 3 in initial launch markets from the day of the world premiere.
"This is a major milestone for our company, one that boosts our growth trajectory and takes us into our next phase," said Polestar CEO, Thomas Ingenlath.
The Polestar 3 will also be the first Polestar vehicle built in the U.S., with production set to take place in early 2023 at Volvo's factory in Charleston, South Carolina. All of the Polestar 3 vehicles built in South Carolina will be sold in the U.S., the company said.
The electric SUV will also be built in China for the local market.
The Polestar 2 fastback was recognized as the world's first vehicle to come with Google's new Android Automotive OS embedded in the vehicle's infotainment system. It allows drivers and passengers to access popular Google services such as Maps, YouTube Music, Gmail and Assistant without having to sync a smartphone.
The Polestar 3 will also feature connectivity features based on Android Automotive OS, as well as high-end, safety-focused autonomous driving features, the company said. It will offer autonomous highway driving powered by a centralized NVIDIA DRIVE processor with integrated LiDAR from Polestar's partner Luminar. It will be one of the world's first EV's equipped with lidar during production to support autonomous driving functions.
The Polestar 3 will be a software-based vehicle capable of receiving regular over-the-air software updates.
Polestar is the new standalone EV brand jointly operated by Sweden's Volvo Cars with support from its parent company Chinese automaker Geely Holding. The company was founded in 2017 as a new electric-performance brand to compete with Tesla and other EV startups such as China's XPeng and NIO Inc.
"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," said Ingenlath. "With this car, we bring the ‘sport' back to the SUV, staying true to our performance roots."
Polestar plans to launch a new vehicle every year for the next three years, starting with Polestar 3, and aims to increase its presence to at least 30 global markets by the end of 2023.
The new SUV supports Polestar's plans to grow its EV sales by ten-fold from approximately 29,000 EVs in 2021 to approximately 290,000 by the end of 2025.
In 2024, the Polestar 5 electric performance 4-door sedan is planned to be launched as the production version of Polestar Precept concept. The electric sedan showcases Polestar's future vision in terms of design, technology, and sustainability.
In April, car rental company Hertz announced that it will purchase up to 65,000 vehicles from Polestar over the next five years. Availability of the Polestar vehicles is expected to begin this Spring in Europe and late 2022 in North America and Australia.
Polestar also aims to launch a U.S. IPO this year to raise capital on Wall Street. The automaker intends to list on the Nasdaq in a proposed business combination with Gores Guggenheim, Inc., which is expected to close in the second half of 2022.
Hyundai Motor Group Signs MoU with SK On Co. to Secure Batteries for EVs Built in the U.S.
Tesla May Build its Next Factory in South Korea, According to the Country’s Presidential Office
Mazda Outlines Plans to Invest $10.6 Billion in Electric and Hybrid Vehicle Development Through 2030
Audi Rebrands its Premium Car Rental Service to ‘Audi on demand’
General Motors Announces a Key North American Nickel Supply Deal for Electric Vehicle Batteries
Toyota’s Redesigned Prius May Get More Drivers Behind the Wheel of a Hybrid Vehicle
Electric Automaker Lucid Group Unveils the Lower Priced Air Pure and Air Touring Models
Struggling Electric Vehicle Startup Faraday Future Signs Deal to Raise up to $350 Million in Financing to Help it Stay Afloat
- Solar-Electric Car Developer Lightyear Announces Technical Partnership with Hypercar Manufacturer Koenigsegg
- GM Expanding First Responder Training Program for EV Crashes
- Biden Administration Announces New Standards to Make EV Chargers More Accessible
- Honda and LG Energy Solutions to Build a $4.4 Billion Joint Venture EV Battery Plant in the U.S.
- Volkswagen Group of America President and CEO is Appointed to Lead the Automaker's New Electric Off-Road Truck Division ‘Scout’
- 2023 Jeep Grand Cherokee Trailhawk Now PHEV Only
- Hyundai Motor Group Signs MoU with SK On Co. to Secure Batteries for EVs Built in the U.S.
- GM's Rebate of up to $6,000 on the Bolt EV and EUV Has a Big Stipulation
- Volvo’s EV Brand Polestar Reports Record Q1 Sales, its New SUV Will Be Officially Unveiled in October
- Volvo-backed EV Battery Maker Northvolt, Founded by Former Tesla Execs, Raises Another $1.1 Billion to Help Fund its Expansion