Polestar has introduced a new and more affordable version of its Polestar 3 electric SUV. The launch of a new affordable EV is ready to compete with market leaders like Tesla and Porsche. This announcement comes along with the first deliveries of the Polestar 3 to the customers. It marks a significant milestone for the brand.
The Polestar 3 is the Polestar’s first electric vehicle (EV) built on two continents. The Polestar 3 is positioned as “the SUV for the electric age” in the brand’s electric lineup. The new variant features an aerodynamic design, a tech-loaded interior, and a sporty driving experience.
Further it is also equipped with a more powerful 111 kWh battery, which offers an impressive range of up to 315 miles. It also includes fast charging capabilities which allows the battery to charge from 10% to 80% in just 30 minutes. Polestar has informed the production of the Polestar 3 began in Chengdu, China, in April. Whereas the additional production in South Carolina is set to start this summer.
On Thursday, Polestar announced a new Long Range Single Motor model for the Polestar 3 starts at $85,500 (€79,890) that also includes the handover fee. This could be another affordable EV for the buyers. It is powered by the same 111 kWh battery as the dual-motor variants, and offers up to 404 miles (650 km) of range as per WLTP.
According to Polestar CEO Thomas Ingenlath, this model provides “a new entry-point for our flagship electric SUV.” This new model is currently available to order in Europe, with availability in North America and Australia expected later this year.
The announcement of the new model comes with the first deliveries of the Polestar 3. The first three Polester 3’s deliveries took place in Sweden, with additional deliveries occurring in California, Illinois, and New York in the United States. Polestar plans to continue delivering models to customers across more markets throughout 2024, including Germany and Norway.
Here’s a breakdown of the Polestar 3 pricing and specifications by trim:
| Trim | Estimated EPA Range (Combined) | Power | Torque | Price |
|---|---|---|---|---|
| Long Range Dual Motor with Pilot Pack | 315 miles | 489 hp | 620 lb-ft | $73,400 |
| Long Range Dual Motor with Pilot Pack and Plus Pack | 315 miles | 489 hp | 620 lb-ft | $78,900 |
| Long Range Dual Motor with Pilot and Performance Pack | 279 miles | 517 hp | 671 lb-ft | $79,400 |
| Long Range Dual Motor with Pilot, Plus, and Performance Pack | 279 miles | 517 hp | 671 lb-ft | $84,900 |
The current base model of Polestar 3, is the Long Range Dual Motor starts at $73,400 in the US. Meanwhile the Long Range Dual Motor with Performance Pack variant costs $79,400. Polestar said that it will reveal US pricing for the new lower-priced model later this year.
Another good news is that the Polestar’s new electric SUV is eligible for the $7,500 Polestar Clean Vehicle Incentive for leases. The company also offers several upgrade packs for the vehicle, including the Pilot Pack (included), Pilot Pack with LiDAR (+$5,000), Plus Pack (+$5,500), and Pro Pack (+$2,100).
The Polestar 3 enters a competitive market, going head-to-head with Tesla’s top-selling Model Y, which starts at $44,990 and offers up to 320 miles of range, and Porsche’s new Macan EV, starting at $78,800. With its blend of luxury, range, and competitive pricing, the Polestar 3 aims to carve out a significant share of the electric SUV market.
As Polestar continues to expand its lineup and reach, the introduction of the lower-priced Polestar 3 model represents a strategic move to attract more customers and bolster its position in the rapidly growing EV market.
