Polestar has revealed pricing for its upcoming electric vehicle (EV), ahead of plans for a market launch in the fall.
The Polestar 3 is priced starting at 75,000 euros ($75,698 USD), ranging upward to as much as 110,000 euros ($111,024 USD) for premium trim options, according to a statement from CEO Thomas Ingenlath to Automotive News Europe.
The vehicle is set to be a direct rival to Porsche’s hybrid Cayenne model, though the battery-electric Polestar 3 also features a slightly shorter, slimmer body.
In a statement, Ingenlath said, “It’s an SUV, which everyone loves, but it’s also very aerodynamic and very engaging to drive.” Ingenlath continued, “It’s not a car to drive to the kindergarten.”
Polestar (PSNY) Goes Public on the Nasdaq, Funding to Help Build EVs https://t.co/DrGAfhqM8G
— TeslaNorth.com (@RealTeslaNorth) June 24, 2022
Polestar, a subsidiary of Volvo, plans to fully unveil the EV in October, officially opening orders up to customers. Volvo is owned by Chinese automotive company, Geely.
The vehicle will be produced at Polestar’s new EV factory in Charleston, South Carolina.
The Polestar 3 is expected to launch in both Europe and in the U.S., the latter of which will see very similar pricing due to close exchange rates between the markets.
Reports earlier this month show that Polestar is looking for additional funding this year, due to a 125 percent increase in sales in the first half of the year.
