Yahoo Autos Polestar 3 gets ready for release, with cheaper, U.S. built, tax-credit-eligible version coming
Swedish EV-maker Polestar (PSNY) is inching ever closer towards its big release of the Polestar 3 SUV.
The company kicked off its roadshow for the electric SUV with the North American debut of the Polestar 3 at an event in New York City. Suffice to say the Polestar 3 will for Polestar — backed by Volvo and China’s Geely (0175.HK) — be the biggest product release in its history, as it takes on a growing field of EV SUV competitors like the Tesla (TSLA) Model X, Mercedes (MBG.DE) EQS SUV, and BMW (BMW.DE) iX.
Polestar will begin global production of the SUV at the Volvo plant in Chengdu, China, starting in mid-2023 but then switch production for North America and other markets starting in mid-2024 out of Volvo’s plant in Ridgeville, S.C. Polestar’s other cars have been built in China, which is all part of the “asset-light” business model that Polestar is employing to build cars at existing plants owned by Volvo and Geely.
The beginning of the roadshow for the Polestar 3 accomplishes a number of things. Showing the world the next evolution of the brand, for one thing. Plus: bringing the car from image to reality for the new markets.
“It’s such an important product (in) the SUV in this premium segment,” Polestar CEO Thomas Ingenlath said in an interview with Yahoo Finance. (See video above.) “We want customers, investors to be aware of what's happening here in the next couple of months...you can’t communicate (this) through social media. The biggest thing is to come live and actually see the thing yourself with your own eyes.”
Autoblog Polestar coverage:
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