CEO Thomas Ingenlath shared details on expected pricing.
After several teasers, the elegantly styled Polestar 3 was finally previewed without any camouflage. It's certainly a looker; the minimalist exterior is tasteful and suitably premium - and so is the pricing. Speaking to Automotive News Europe, CEO Thomas Ingenlath said the Swedish automaker is looking to price the newcomer between €75,000 and €110,000 (approx. $76,000 and $111,000).
This will place the company's first-ever SUV firmly in the sights of the Audi e-tron, BMW iX, and even more traditional rivals such as the Porsche Cayenne. This would make it notably more expensive than the Polestar 2, which has a starting MSRP of $48,400.
So, is the Polestar 3 worth the substantial outlay it demands? It certainly seems that way.
Let's start with the technology on offer. At a later stage, the range-topping SUV will be available with autonomous highway driving powered by Nvidia software and a cutting-edge LIDAR sensor. The dual-motor electric drivetrain can also travel around 372 miles between charges (on the WLTP cycle). But what will it be like to drive? According to Ingenlath, this isn't your average school-run SUV.
"It's an SUV, which everyone loves, but it's also very aerodynamic and very engaging to drive...it's not a car to drive to the kindergarten." The Polestar 3, which is based on the SPA2 architecture, is a very important product for the brand.
The EV maker is hoping to sell 124,000 vehicles per annum by 2023; a tall order considering it shifted just 21,200 vehicles in the first half of 2022. "Polestar 3 will stand out amongst other SUV offerings and boost our growth trajectory. It is an important next step towards our goal of selling 290,000 cars in 2025," said Ingenlath.
Relying on a premium electric SUV to boost sales makes a lot of sense. The segment has been on an upward trajectory for the past two decades and shows no sign of slowing down, even in the electric era. It remains to be seen whether Polestar can go head-to-head with segment stalwarts such as BMW and Porsche, both of which have more brand appeal.
Then again, the automaker's first vehicle, the Polestar 1, attracted the business of many wealthy clients despite a lack of prestige or heritage. With an official unveiling and launch planned for October 2022, the Polestar 3 will be manufactured in South Carolina. Hopefully, local production will keep costs down.
The company's ambitions don't end with this newcomer, though. Plans are afoot to introduce a Macan EV (in the form of the Polestar 4) and the striking 872-horsepower Polestar 5 is expected to hit the scene in 2024. Elsewhere, Ingenlath has expressed interest in making the stunning O2 roadster concept a reality.