Those waiting for an all-electric SUV in Australia will soon have another choice to add to their shortlist: a second electric car model from high-performance brand Polestar is tipped to arrive in early 2023, in the form of the Polestar 3 SUV.
The electric Polestar 3 is the first SUV from the Volvo-owned marque, and the first examples are set to hit local Polestar Spaces by the end of the year.
Unlike the Polestar 2, which is already on sale in Australia from $59,900, it will not be made at Polestar’s plant in Luqiao, China.
Instead, 150,000 units a year are planned from Volvo’s Chengdu plant where it will be built on the same SPA2 platform as the upcoming all-electric Volvo XC90, with a flat floor that will result in more cabin space.
Though the Polestar 3 will share the same platform as the all-electric Volvo XC90, its focus will rather be on sporty performance rather than roomy comfort.
In keeping with the marque’s high-performance beginnings, it is expected that the Polestar 3 will sport the new Polestar P10 motor, delivering up to 450kW power on the rear axle. Adding a second motor on the front axle could see a power output of up to 650kW, making the Polestar 2 as much as 50% more powerful than the Porsche Taycan.
The Polestar 3’s performance focus will also be reflected in the design. Headed by the carmaker’s design lead Max Missoni, the Polestar design team has infused plenty of DNA from the brand’s Precept concept: expect bold lines, and an assertive nose that is complemented by an angular, flared rear.
“Polestar 3 is planned to be launched in 2022 as a premium electric performance SUV that will define the look of SUVs in the electric age,” said Polestar CEO Thomas Ingelnath of the electric SUV when first teased in late 2021.
While the Polestar 3 will sit alongside the Polestar 5 which also takes its lead from the Precept, it is also expected to include the same connectivity and driver-assist technologies as its forebear, the Polestar 2, including Android Automotive and Pilot Assist.
It is one of three electric models to be launched by the brand over the next three years.
And with Volvo announcing continued support for the brand as it looks to a backdoor public listing expected to be completed in the first half of the year, the brand is setting its sights on expanding into a total of 30 markets by 2023.
Volvo’s new commitment consists of a Declaration of Intent stating it will subscribe for any potential future equity or equity-linked securities issued by Polestar in proportion to its current ownership stake of 49.5%.
The largest shareholder in Polestar, Volvo Cars considers its investment in Polestar as a long-term and strategically important investment and expects to continue acting as a responsible shareholder and business partner to Polestar.
Volvo has also confirmed it intends to continue its financial support of Polestar through its planned initial public offering on the Nasdaq stock exchange.