Polestar’s first SUV, the Polestar 3 EV, arrives in Q3 2022

Polestar launched teaser pictures Tuesday for its first battery-electric SUV, the Polestar 3, which is able to make its world debut in October.

The teaser reveals a glossy, four-passenger SUV with a panoramic sunroof that stretches from windshield to rear spoiler and a daring taillight design.

The Polestar 3, which shall be constructed on the Volvo plant in Charleston, South Carolina, later this 12 months, is the third mannequin from the high-performance EV maker, following the discontinued, 600-horsepower Polestar 1 plug-in hybrid, and the Polestar 2 all-electric sports activities sedan.

Polestar’s newest mannequin permits the automaker to enter one among the trade’s highest-margin, fastest-growing segments within the U.S.: bigger, luxurious EVs. A number of automakers have begun tapping into this twin demand for each luxurious SUVs and electrical autos. Recent entrants together with the Maserati Grecale, Lexus RZ, Cadillac Lyriq are anticipated to change into high sellers for his or her manufacturers.

The automaker stated its SUV will journey an estimated 372 miles on a completely charged battery and have a dual-motor drivetrain. Manufacturing within the U.S. and China will start in early 2023. Ultimately, the SUV will find a way to offer autonomous freeway piloting, powered by LiDAR sensors from Luminar and centralized computing by NVIDIA.

Polestar intends for the SUV to showcase the model’s functionality and efficiency. With this automobile, we deliver the ‘sport’ again to the SUV, staying true to our efficiency roots,” CEO Thomas Ingenlath stated in an announcement.

Polestar, which shaped in 2017 as a standalone model underneath the aegis of Sweden’s Volvo Vehicles, has aggressive plans for the longer term. Beginning with the Polestar 3’s public premiere this fall, Polestar plans to launch one recent mannequin yearly over the subsequent three years.

The objective is to extend its presence to not less than 30 world markets by the top of 2023, whereas rising its world gross sales tenfold to 290,000 models by 2025, in contrast with the 29,000 models it offered in 2021.

To fund its lofty targets, Polestar plans to go public this summer time by a merger with Gores Guggenheim. The SPAC deal values the corporate at $20 billion. Many of the EV makers to go public by a so-called reverse merger as an alternative of an IPO have stumbled, in the end resulting in investigations by the U.S. Securities and Change Fee, the elimination of high executives, and tumbling valuations.

Polestar introduced final week that it’s going to construct 270 models of a high-performance version of its Polestar 2 electrical compact sedan. The 2023 Polestar 2 BST Version is a four-door fastback with 476 horsepower – 68 greater than the common Polestar 2 – and a beginning worth of $75,500. Prospects will start receiving their orders late this 12 months.

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