Polestar Automotive ( NASDAQ: PSNY ) officially unveiled the the Polestar 3 electric performance SUV.
The first version of the all-electric five-passenger SUV is priced at priced $84K, but lower-costs versions are expected to follow. The Polestar 3 is the first car from the company to feature centralized computing with the NVIDIA DRIVE core computer, running software from Volvo Cars. In addition, the infotainment system is powered by a next-generation Snapdragon Cockpit Platform from Qualcomm Technologies, Inc. The model also features next-generation advanced active and passive safety technology from Volvo Cars. Further collaborations with industry-leading safety technology partners like Zenseact, Luminar and Smart Eye, are said to provide Polestar 3 with cutting-edge ADAS technology.
Polestar 3 launched with a dual-motor configuration and a power bias towards the rear. With the optional Performance Pack, total output is 380 kW (517 hp) and 910 Nm (671 lb-ft). The model features a 111 kWh battery pack to lead to a driving range of up to 300 miles. A heat pump is included as standard, and the car is equipped for bidirectional charging, enabling future potential for vehicle-to-grid and plug-and-charge capabilities.
Polestar CEO said the model will take the company's manufacturing footprint to the next level by bringing Polestar production to the United States.
Polestar 3 is the first car out from the EV upstart with a new all-electric technology base developed by and shared with Volvo Cars. Production for initial launch markets is planned to begin in Volvo Cars' facility in Chengdu, China in an incremental ramp-up phase from mid-2023. The first deliveries are expected in Q4 of 2023. Additional manufacturing set for Volvo Cars' Ridgeville, South Carolina facility in the United States is expected to follow towards the middle of 2024. At that time, supply to North America and other markets is planned to switch from China to the USA.
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Polestar updates on new SUV model and production plans