Polestar to launch three new electric cars by 2024

Polestar 3 to make its debut next year, followed by the Polestar 4 coupe-SUV in 2023 and the Polestar 5 saloon in 2024

Polestar teaser

Polestar CEO Thomas Ingenlath has confirmed the brand will launch three new electric cars within the next three years, detailing the names of the as yet unseen Polestar 4 electric SUV and the Polestar 5.

The first of the trio will be the Polestar 3 SUV, which will make its debut next year as the Swedish brand’s answer to the Tesla Model X and Audi e-tron

According to Ingenlath’s comments on an investor call, the Polestar 3 will be priced to compete with the Porsche Cayenne, which would give it a starting price of around £60,000.

In 2023, we’ll see the new Polestar 4. It’s the car in the middle of the company’s teaser image above, and Ingenlath highlighted that this new EV will be a “sporty coupe-SUV” positioned below the Polestar 3. It’ll rival the likes of the next-generation Porsche Macan EV.

The Polestar 5 will be unveiled in 2024, with the first examples set to hit the road in 2025. This low-slung saloon will rival the Tesla Model S and Porsche Taycan, with the production version evolving from the Polestar Precept saloon concept, which previews the car’s styling.

Polestar’s CEO outlined that “We will see one car per year for the next three years, something not seen from other EV start-ups. These cars are designed and ready to go.”

Ingenlath further outlined Polestar’s range pricing, highlighting that “the Polestar 1 defines the upper price point for the brand, with the Polestar 2 representing the entry point.” These vehicles range from £139,000 for the 1, to £39,900 for the most affordable Polestar 2 variant. 

We expect the Polestar 4 coupe-SUV will be based on the same SPA2 underpinnings as the Polestar 3, as the platform has been designed to cater for both sister company Volvo and Polestar’s mid-size and flagship vehicles. 

To give an indication of the vehicle sizes the platform can accommodate, SPA2 will also be used to prop up both the next-generation versions of the Volvo S60 (which is the company’s BMW 3 Series rival) and the Volvo S90 (the firm’s 5 Series competitor).

Like the Polestar 3, this new electric SUV will probably receive a dual-motor powertrain and a battery large enough to support a maximum range of around 300 miles.

Financing the new models will be driven by a new deal between Volvo and parent company Geely which will see the firm listed publicly on the Nasdaq stock exchange, with Volvo retaining 50 per cent ownership of the new traded company called Polestar Automotive Holding UK, valued at $20bn (roughly £14.6bn). Under the new business structure, the company will plot an aggressive strategy to increase global sales from around 10,000 cars per year at present, to 290,000 a year by 2025. 

Now click here to read our in-depth review of the new Polestar 2....

Recommended

Geely and NIO agreement could see battery swapping tech on Volvo, Polestar and Lotus cars
Volvo EX30 - front action
News

Geely and NIO agreement could see battery swapping tech on Volvo, Polestar and Lotus cars

The Chinese giant behind Volvo, Polestar and Lotus will join forces with NIO on battery tech
30 Nov 2023
Best new cars coming in 2024
Best new cars coming in 2024 - header image
Best cars & vans

Best new cars coming in 2024

There are some big new models from the likes of Audi, BMW, Citroen, Ford, MINI, Skoda and more on the way in 2024
20 Nov 2023
​Polestar 0 and the quest for the carbon neutral car
Polestar 0 Project decal
News

​Polestar 0 and the quest for the carbon neutral car

Polestar wants to build a truly carbon neutral car by 2030 and although it’s a huge challenge, the Polestar 0 project means business
13 Nov 2023
Polestar’s electric supercar: Could the Synergy concept become reality?
Polestar supercar - front static on showstand
News

Polestar’s electric supercar: Could the Synergy concept become reality?

Polestar has a supercar in its sights but we may have some time to wait
10 Nov 2023

Most Popular

‘Forget leasing a car, a cut-price van should be your next everyday vehicle’
Opinion - Fiat Scudo
Opinion

‘Forget leasing a car, a cut-price van should be your next everyday vehicle’

With some huge savings to be had, Mike Rutherford thinks a van could be the perfect vehicle
3 Dec 2023
New Renault 5: price, specs, launch and on sale dates
Renault 5 EV concept at 2022 Goodwood Festival of Speed
News

New Renault 5: price, specs, launch and on sale dates

Renault’s reborn Renault 5 will start from €25,000 in Europe, suggesting a circa-£30k price in the UK. It's due on sale in the summer of 2024. Here's …
1 Dec 2023
Deal of the Day: Spacious Skoda Superb is a peerless estate for £223 a month
Skoda Superb Estate - front tracking
News

Deal of the Day: Spacious Skoda Superb is a peerless estate for £223 a month

The Superb is one of our favourite estates and our Deal of the Day for Monday 4 December
4 Dec 2023