Polestar 3: From 2022 – made in USA

Polestar also wants to become more popular in the USA. Therefore, Thomas Ingenlath, CEO of Polestar, invited investors and the press to a series of events in New York to present Polestar's brand and growth goals. The Polestar 3 is expected to be one of the most environmentally friendly cars of all time. Equipped with the industry-leading LiDAR sensor from the American technology company Luminar and central Nvidia computing power, it is expected to enable autonomous highway driving.

With the Polestar 3, the brand is targeting the premium SUV market, which, according to Polestar, is the fastest-growing segment in the US automotive industry. Polestar believes this will be the area that will transition to fully electric vehicles the fastest. Thomas Ingenlath explained to the audience that he believes there is a fundamental difference between Polestar and many other electric car companies:

“We are not a virtual company waiting to build factories and sell cars. We are a real company that already produces and markets cars worldwide.”

Sales are expected to increase tenfold in four years

Meanwhile, the company is active in 14 markets worldwide and expects sales of around 29,000 vehicles for 2021. Ingenlath also emphasized the company's established production and distribution capacities and explained that Polestar plans to launch a new vehicle every year for the next three years, starting with the Polestar 3. Furthermore, the brand aims to expand its presence to at least 30 global markets by the end of 2023. Through expansion into new markets, the introduction of three new vehicles, and further development of existing markets, Polestar plans a tenfold increase in global sales from around 29,000 vehicles in 2021 to 290,000 vehicles in 2025. Ingenlath concluded with the sentence:

“From now on, everything at Polestar is about growth.”

Polestar's advantage is the backing from Volvo: Volvo Cars is a major shareholder in Polestar and enables the brand to benefit from the Swedish company's world-leading safety technologies and achieve cost efficiency through financial and industrial synergies.

What does this mean?

Finally, Polestar is becoming concrete and planning a major rollout in terms of both models and markets. It will be interesting to see how many new customers the brand can attract and whether their expansion will cost Volvo sales. For this reason, future Polestars will also differentiate themselves more significantly from future Volvo models. The Polestar 3 is expected to share many components with the future successor to the Volvo XC-90.