It will cost £135,993

Polestar has announced the pricing for its first bespoke car that will arrive later this year.

The Polestar 1 coupe will be priced from (deep breath) approximately £135,993, making it the most expensive car Volvo has ever produced. Well, we say that, it isn't really a Volvo, despite being based on the S90. It's being put together in a purpose-built facility in Chengdu, China.

'After our public introduction at the Geneva Motor Show in March, we are excited to be back in China – one of the key markets for the Polestar brand,' said Thomas Ingenlath, Chief Executive Officer at Polestar, speaking at the Beijing motor show that kicked off this week. 'It feels great to bring the Polestar brand and the Polestar 1 closer to the public here in Beijing.'

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The coupe will serve as the brand's halo car. It will also go on to spawn a family of electric cars – the Polestar 2 – will follow in 2019 as a rival to the Tesla Model 3. An electric SUV, which will be called the Polestar 3, will follow in 2020, while the Polestar 4, which is expected to be a Polestar 1-based convertible of some sort, will come later.

'We have seen a strong initial response from our first customers,' Ingenlath added. 'This gives us confidence that our brand has a bright future. In 2019 already we will launch our next car, the Polestar 2 – a mid-sized fully-electric car which is well developed in its engineering phase. We will follow that up with the Polestar 3, a stunning electric SUV with a beautiful aerodynamic silhouette that is already advanced in its design phase.'

The Swedish brand is only planning to build 500 units of the Polestar 1 each year, but has already had well over 10 times that register an interest. Potential customers have to put down a fully refundable deposit of £2,215.

Gallery: 2018 Polestar 1 official photos