The Polestar 3 is key for the young brand’s ambitions to grow its global sales tenfold to about 290,000 vehicles by 2025. Polestar plans to launch a new vehicle every year for the next three years, starting with the Polestar 3, and aims to increase its presence to at least 30 global markets by the end of 2023.
Globally, Polestar expects to sell 24,000 units of the crossover next year, increasing that to 67,000 in 2024 and 77,000 in 2025, according to company figures.
“This is a major milestone for our company, one that boosts our growth trajectory and takes us into our next phase,” Ingenlath said.
U.S. dealers will learn more about Polestar 3 configurations and pricing this summer.
By the time the first Polestar 3 rolls off the assembly line early next year at Volvo’s factory near Charleston, S.C., the automaker expects to have nearly 40 stores operating across the continental U.S.
The Polestar 3 will launch in a more competitive market than the Polestar 2 did. Mercedes-Benz, BMW and Porsche are introducing battery-powered crossovers in the next few years.