The Polestar 2, from Volvo’s stand-alone electrified brand, will offer a 500-km (311 mile) range from its 402-hp all-wheel-drive battery-driven powertrain in a bid to challenge the Tesla Model 3 for leadership in the fledgling niche for more-affordable emissions-free travel.
“Polestar 2 is our first fully electric car and first volume model,” Polestar CEO Thomas Ingenlath said in a statement. “As an electric performance brand, and through the forthcoming launch of a portfolio of fully electric cars, Polestar is determined to address the world’s air quality challenges.”
Automakers are under increasing pressure to reduce tailpipe pollution, especially in Europe where automakers are racing to reduce fleet emissions to 95 grams per kilometer by 2021 – down from 118.1g/km in 2017 – to comply with EU rules. Every car in Europe is expected to require some level of electrification to meet the EU’s goal of getting average CO2 emissions down to 59.4g/km by 2030.
Polestar, which revealed photos and details of its second model today ahead of the car’s Geneva auto show debut next month, says the five-door midsize premium sedan will be priced as low as 39,900 euros in Europe. The so-called “launch edition” of the Polestar 2, however, will be 59,900 euros. The pricing will be in effect for the first 12 months of production, the company said.
Polestar estimates the launch model will cost $55,500 in the U.S. after factoring in a $7,500 federal tax credit on electric vehicles. Orders for the car start today.
Like Volvo does with the XC40, V60 and S60, Polestar plans to offer the option of having a monthly subscription to the Polestar 2, however the monthly rate still needs to be determined.
In Europe the Model 3 starts at 55,400 euros. That version offers a range of 560km. The performance version of the Model 3, which has a reduced range of 530km but quicker acceleration and a higher top speed, is priced at 66,100 euros (see comparison chart, below, right).