CEO Thomas Enginlath announced that the mid-size SUV Polestar 3, which will be launched this fall, will sell for between 75,000 and 110,000 euros.

Speaking at the conference Europe Car NewsThe leader specified that prices would be similar in the United States due to the parity of the exchange rate between the dollar and the euro.

Sharing the new Scalable Product Architecture (SPA2) electric platform and assembly line at Volvo’s new plant in Charleston, South Carolina with the successor to the upcoming XC90, the Polestar 3 was introduced by the electric car maker performing like an electric competitor to the Porsche Cayenne.

Pricing indicates that the Polestar 3 will compete with the entry-level and mid-range Cayenne and Cayenne Coupe models. Thomas Ingenlath said the Polestar 3 will perfectly meet consumer needs, combining practicality with driving dynamics characteristics.

“It’s an SUV, which everyone loves, but it’s also very aerodynamic and very attractive to drive. It’s not a car to drive to kindergarten.”

2023 Polestar 3 and 2024 Polestar 4

Polestar has already teased the design of its first SUV, but it will reveal it in full in October, when it will also start taking orders from customers. Delivery dates have not been announced.

The SPA2 platform enables the use of two motors and a battery powerful enough to provide an expected range of 600 km in the combined WLTP test cycle. The EV-only platform will also offer hands-free autonomous driving when regulations allow these features to be enabled.

Polestar 3 is central to achieving the company’s 2023 goal of selling 124,000 vehicles worldwide. The brand increased sales of the Polestar 2 sedan by 125% to 21,200 in the first half of this year, roughly equaling the volume throughout the 2021 calendar year.

For 2023, Polestar plans to sell 24,000 units of its first SUV globally, then 67,000 in 2024 and 77,000 in 2025. In addition to Polestar 3, the electric vehicle manufacturer backed by Volvo and Geely Cars plans to launch an SUV Another one in 2023, a Macan-sized Porsche Polestar 4, followed by the flagship Polestar 5 sedan in 2024.

Polestar 3 and 4 are expected to make up the bulk of the brand’s global sales, with the company forecasting combined sales of 160,000 units for the two SUVs by 2025.