POLESTAR - Polestar, the Swedish electric performance car company, has announced that the world premiere of its next car, the Polestar 3 electric performance SUV, will be in October 2022. Polestar 3 is the company’s first SUV.
The launch
of the car marks Polestar’s entrance into one of the highest margin and growth
segments in the automotive industry, particularly in the United States.
Polestar 3
will, over time, offer autonomous highway piloting powered by the best-in-class
LiDAR sensor from Luminar and centralized NVIDIA computing power. At launch,
Polestar 3 will feature a dual-motor drivetrain and a large battery, with a
range target of over 600 km (WLTP).
The
confirmation of the world premiere comes with a new film and a first
undisguised image of the car. Customers can expect to order Polestar 3 in
initial launch markets from the day of the premiere. Production is expected to
begin in early 2023, and Polestar 3 will be manufactured in the United States
and China.
“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,” says Thomas
Ingenlath, Polestar CEO. “With this car, we bring the ‘sport’ back to the SUV,
staying true to our performance roots.”
Thomas
Ingenlath adds: “This is a major milestone for our company, one that boosts our
growth trajectory and takes us into our next phase.”
Polestar
plans to launch a new car 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. This supports Polestar’s plans to grow ten-fold from
global sales of approximately 29,000 in 2021 to approximately 290,000 by the
end of 2025.
Polestar
intends to list on the Nasdaq in a proposed business combination with Gores
Guggenheim, Inc. (Nasdaq: GGPI, GGPIW, and GGPIU), which is expected to close
in the first half of 2022.