Polestar 3 All-Electric SUV Teased Before October Release

Ahead of its release this fall, electric vehicle (EV) maker Polestar has revealed some details about its Polestar 3. It's the first SUV model from the company, which was spun off (though still co-owned) from Volvo and Geely in 2017. Polestar was the performance sub-brand of the Swedish automaker.

"Polestar 3 is the SUV for the electric age," Polestar CEO Thomas Ingenlath said in a press release. "Our design identity evolves with this high-end large luxury EV, with a strong, individual brand character. With this car, we bring the 'sport' back to the SUV, staying true to our performance roots."

Details were scarce, but a side profile image released showed a sleek vehicle with a low profile. Lines along the sides are minimal and more pronounced towards the back. A sloped roofline appears to show a small window on the liftgate, which could mean reduced visibility.

Polestar says that the 3 will launch with a dual-motor battery and a "large" battery. Range numbers for the U.S. market aren't out yet, but the WLTP European test cycle resulted in 372 miles on a single charge.

Polestar 3
The Polestar 3 electric SUV comes out later this year. Polestar

The company's current Polestar 2 sedan starts at $49,800 with a single motor making 231 horsepower or a dual-motor setup with 408 horsepower for $53,300 before EV tax credits.

Although no info was given on the car's interior, Polestar prides itself on leaning towards its Scandinavian heritage with clean and sparse cabins. It's also committed to using only vegan materials.

The company says that, eventually, the car will offer "autonomous highway piloting" using LiDAR sensors from Luminar.

Ed Kim, chief analyst and president at AutoPacific, told Newsweek that the SUV stands to be the fledgling company's most important offering yet.

"The Polestar 3 is a supremely important model for Polestar as it represents the brand's first SUV, and SUVs are where the action is at, both among EVs and conventionally powered vehicles," he said. "In this sense, it's something of a "make it or break it" model for Polestar, and it has to get the product right."

He added that the company is already on strong footing with manufacturing, retail networks and commercial relationships, though there's a natural uncertainty in the space in general.

"The uncertainty lies with the unpredictability and volatility that is inherent to a new and emerging market space, namely the EV segment," he said. "Polestar has its work cut out even with its very appealing upcoming products as there will be countless new EV competitors from both legacy and startup automakers."

Production is expected to start in early 2023. Cutting into the premium SUV EV market share is going to mean head-to-head comparisons to the 2022 Tesla Model Y (starting at $62,990), the 2023 Cadillac Lyriq (also $62,990) and the 2022 Audi Q4 e-tron ($49,900).

Polestar has said that it plans to go public in the first half of 2022 through a SPAC merger with Gores Guggenheim.