Polestar will not engage in price wars, per CEO Thomas Ingenlath. Speaking with Reuters, Ingenlath stated that the Swedish-based, Chinese-backed brand has a "completely different aim" to Tesla and wishes to establish itself as a premium sportscar company.
While Tesla hopes to make 1.8 million vehicles this year, Polestar has maintained its production target of 80,000 units. And as previously mentioned, Polestar will not engage in price wars as it views itself as a premium brand - not a mainstream one.
Polestar posted an operating loss of $204.7 million last quarter, however that's a significant improvement on the $337.3 lost in the same period in 2021. The automaker expects its 2023 gross profit to be roughly in line with the $119.4 million it made in 2022.
More On Polestar
Polestar currently sells the 2 fastback. Facelifted for 2023, the 2 currently starts at £44,950. Polestar's next vehicle, the 3 SUV starts at £79,900 and produce up to 517 bhp. Polestar promises the 3 will have up to 379 miles of real-world range.
After the 3, Polestar will launch a sporty SUV coupe called (you guessed it) the 4. Although information remains limited for now, we know that it be a mid-sized SUV with a starting price in the region of £50-60k. Slated to arrive in 2024, it will sit below the full-sized 3.
A saloon based on the Precept Concept is also in development. It will likely go into production as the Polestar 5 and will be a Porsche Taycan and Tesla Model S rival.
Source: Reuters