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Polestar 2 electric vehicle will start at $61,200
Cars and other vehicles

Polestar 2 electric vehicle will start at $61,200 

Polestar’s Tesla Model 3 fighter will start at $61,200, including shipping, when it silently rolls into the U.S. this summer.

The Swedish electric vehicle startup’s first volume model — the Polestar 2 — is priced $3,000 less than planned and does not include up to $9,500 in state and federal tax incentives the EV would be eligible for.

The fastback, powered by a 78-kWh battery, delivers 408 hp and an estimated range of 275 miles. It is based on Polestar’s compact modular platform, the same platform underpinning the Volvo XC40 crossover.

Gothenburg, Sweden-based Polestar, the electrified performance brand of Volvo Cars, is said to have at least a half-dozen battery-electric models planned over the next decade. In addition to the Polestar 2 and Polestar 1, a $155,000, limited-run hybrid sedan is expected to arrive this year. The automaker also has plans for a sporty crossover.

On-time arrival

Despite a global pandemic that has strangled auto-industry demand and supply, Polestar is marching forward with launch plans for the Polestar 2. Production began in March in Luqiao, China.

Polestar USA CEO Gregor Hembrough told Automotive News last month the company’s U.S. market launch is on schedule. He noted, however, that the coronavirus pandemic could prevent Polestar’s new U.S. stores from opening on time.

The 2021 Polestar 2 is crucial to achieving Polestar CEO Thomas Ingenlath’s goals of making the brand profitable in five to seven years and reaching global sales of more than 100,000 a year.

Polestar previously said it expects to build about 50,000 Polestar 2s in its first full year.

Tesla playbook

Polestar is taking a page out of Tesla and other boutique automakers’ books — launching with pricey, well-equipped model variants to capitalize design and production of more mass-market versions. At launch, the Tesla Model 3 started at $49,000, before shipping fees.

Like Tesla, Polestar also is adopting an experiential U.S. retail strategy, bringing the brand to where people congregate or shop. The company envisions small, low-cost “spaces” in malls and mixed-use urban developments, instead of multimillion-dollar, Taj Mahal-style showrooms with expansive service centers. Polestar stores will be run by franchised dealers selected from Volvo’s retail network.

Initially, Polestar expects to have stores in five cities on the West Coast and in three cities in Canada. The West Coast is a natural launch market because it has high EV adoption, attractive government incentives and robust charging infrastructure.

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