The big reveal is just around the corner.
Swedish electric performance brand Polestar recently announced a strong start to the year with record sales for the first four months of 2022. Sales nearly doubled to approximately 13,600 and orders nearly tripled to around 23,000. These are still small numbers compared to other automakers, but it's still proof that the Polestar brand is growing quickly. "We promised growth and we are delivering on that promise," said Thomas Ingenlath, Polestar CEO.
The sales news is positive for Polestar, but the company kind of buried the lead within this announcement. Further down in the press release, the automaker announced when its next vehicle, the 2023 Polestar 3, will make its long-awaited debut.
"We believe our future growth will be further accelerated by our entry into the lucrative SUV market later this year with the world premiere in October of the long-awaited Polestar 3 electric performance SUV," Ingenlath said. "Polestar 3, which will be manufactured in the US and China, will stand out amongst other SUV offerings and boost our strong growth trajectory to take us into our next phase."
Polestar's naming scheme is a bit confusing, so as a reminder the Polestar 3 is the company's first SUV model that's roughly Porsche Cayenne-sized.
Though the CEO didn't give an exact reveal date, we now know the Polestar 3's debut is only around four months away. Preorders will open on the same day as the premiere. The electric SUV has only been shown in limited teasers, so any details regarding the drivetrain are scarce.
We expect the Polestar 3 to offer single and dual-motor versions with 400-volt architecture that will outclass the current Polestar 2's 155 kW max charging speeds. Pricing should rest somewhere in the mid-$70,000 range, making it a strong competitor for the gas-powered Cayenne. Adding an SUV should be a boon to Polestar's sales, as the company hopes to sell 290,000 cars by 2025 (10 times more than it sold in 2021).