Judging from the price, the Polestar 3 is going after BMW and Mercedes-Benz rather than Tesla.
On October 12, Polestar revealed its third model, aptly named the Polestar 3. A lot has changed for the brand since the arrival of the Polestar 2, a smash-hit that propelled the Volvo-owned brand to mainstream success. At last, a Polestar SUV is here. Here’s every detail about the Polestar 3’s price, range, release date. We’ll even delve into the messy EV tax credits!
Polestar’s Model Lineup Is Growing
Polestar plans to launch one new electric vehicle per year, starting with Polestar 3 – the company’s first electric SUV. The Polestar 3 premiered on October 12, and you can watch the official unveiling here. The Polestar 4 is expected to follow in 2023 as a smaller electric performance SUV coupe.
In 2024, the Polestar 5 electric performance 4-door GT will launch as the production version of the Polestar Precept unveiled in 2020.
Polestar 3: Made in America
The new Polestar 3 will be the first of the brand’s models to be manufactured in the United States. Polestar will build the Polestar 3 at Volvo’s factory in Charleston, South Carolina starting in 2023. The 3 will be made alongside the Volvo EX90, the electric sibling to the Volvo XC90. However, the price is above the price cap in the revised EV tax credit, so it will not be eligible.
A Premium Electric SUV
Fresh off the successes of Polestar’s first mass-market EV, the Polestar 2, the brand is ready to step into America’s most competitive vehicle segment, that of the almighty crossover SUVs. Here’s what Polestar has shared so far:
- Polestar 3 starts at a price of $83,900. The Polestar 3 Performance starts at $89,900. It will not qualify for US EV tax credits.
- Range is between 270 and 300 miles (EPA estimate).
- Charge time is 10% to 80% in 30 minutes.
- The Polestar 3 will be powered by a new electric powertrain, taking the brand beyond the platform in the Polestar 2 today. This is expected to bring more range, faster charging, and improved battery longevity.
- A rear-biased dual-motor powertrain will be standard, making all-wheel drive standard. That’s great considering the expected price.
- It’s powerful: with the Performance package, the Polestar 3 puts out 510 horsepower.
- It’s comfy: An adaptive suspension system with active dampers will come standard. Performance optioned cars will have sport-tuned suspensions.
- According to Polestar, the Polestar 3 will, “over time, offer autonomous highway piloting powered by the best-in-class LiDAR sensor from Luminar and centralized NVIDIA computing power.” This suggests that the Polestar 3 will be capable of over-the-air updates.
- The Polestar 3 will be built in Charleston, South Carolina at Volvo’s factory.
Polestar 3 Range and Battery Size
The Long-Range Dual Motor Polestar 3 has an EPA-estimated range of 300 miles. The Performance Package drops range to 270 miles. That’s excellent for an SUV, and is just shy of the Tesla Model Y’s 330 miles of range.
Battery capacity is 111 kilowatt-hours (kWh).
The Polestar 3 can charge from 10% to 80% in 30 minutes at a DC fast charger. That would translate to about 210 miles of range added in 30 minutes. That is slightly better than the industry average in 2023.
At a level 2 charger (the kind typically installed at home), the Polestar 3 can charge from empty to 100% in 11 hours. Remember, it charges overnight while you sleep so this is rarely a concern.
Polestar 3 Price and Incentives
The Polestar 3 starts at $83,900 for the base Long-Range Dual Motor version. The Long-Range Dual Motor with Performance package starts at $89,900.
The Polestar 3’s price is far above America’s best-selling EV, the Tesla Model Y. Right now, the Model Y starts at $67,190 with destination fees.
In Polestar’s early marketing campaign for the 3, the brand has made it crystal clear that this is a premium SUV. Expect premium prices.
The Polestar 3 will be made in America, but the price means it’s not eligible for the new EV tax credit, which has a cap of $80,000. See EV tax credit requirements and amounts.
Exterior and Interior Options
The Polestar 3 Performance package costs an additional $6,600. The Performance pack increases horsepower to 517 HP, upgrades to 22″ wheels, and gets the gold accents the Polestar brand is known for.
Interior upgrades include ventilated Nappa leather seats sourced ethically, black ash deco, and massaging seats.
Competitors in 2023
The 2024 Polestar 3 will compete with a growing list of premium electric crossovers. These are the top contenders for the electric luxury market heading into 2023.
- Tesla Model Y – Starting at $67,190; 330 miles of range
- Audi etron – Starting at $72,000; 226 miles of range
- Fisker Ocean – Deliveries begin in 2023; starts near $40,000 on paper, but vehicles available in 2023 will be higher-spec $70,000 Ocean One models. Up to 350 miles of range
- Cadillac Lyriq – Starting at $61,795; up to 300 miles of range
- Genesis GV60 – Starting at $56,395; 248 miles of range
- BMW iX – Starting at $85,095; 324 miles of range
- Mercedes EQS SUV – Starting at $104,000; 305 miles of range
Preorders for the Polestar 3 are open now. Deliveries will begin in late 2023, according to the automaker.
Let us know, what do you think about the Polestar 3? Is it worth a price of $83,900? I expect this to remain relatively low volume because of the price alone. Polestar seems to be competing with BMW and Mercedes rather than the big EV leader Tesla.
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