Posts tagged with "Polestar 1"

Polestar 3 by Polestar Press via 360 Magazine

Polestar 3 Premieres on October 12

The SUV for the Electric Age – Polestar 3 Premieres on October 12

Polestar cars (Nasdaq: PSNY) will premiere its first SUV, Polestar 3, at a launch event on October 12, 2022, in Copenhagen, Denmark. Featuring Polestar CEO, Thomas Ingenlath, and Polestar Head of Design, Maximilian Missoni, the event will be live-streamed globally beginning at 1 p.m. EST, allowing consumers a glimpse at the brand’s debut in the SUV market. For those who want to tune in, the live broadcast will be available at https://youtu.be/oga1XJAX8ms.

Polestar 3 is a powerful, design-led electric performance SUV that appeals to the senses with a distinct shape while providing excellent driving dynamics. “We had to ask ourselves: ‘what should a modern SUV look like?’ Polestar 3 defines the SUV for the electric age, and in designing it we addressed some of the fundamentals of the archetype: proportions, stance, and aerodynamics,” says Thomas Ingenlath, Polestar CEO.

Built on a new all-electric technology base, Polestar 3 also features the latest in high-tech components. This includes a centralized core processor from NVIDIA, and a long list of advanced safety systems from Volvo Cars and leading industry suppliers such as Zenseact, Luminar and Smart Eye.

At Polestar, performance means more than straight-line acceleration. At launch, each version of the Polestar 3 will feature a rear-biased dual motor powertrain and torque vectoring via a dual-clutch system on the rear electric motor. Delivered as standard, adaptive dual-chamber air suspension, and active dampers will allow Polestar 3 to switch between comfort and firm suspension dynamics while adjusting to the road conditions once every two milliseconds (500 Hz).

“It’s this instant ability to transform from a comfortable cruiser to a sharp, agile performance car in less than the blink of an eye that makes Polestar 3 special as an electric performance SUV,” continued Ingenlath. “It also benefits from a low center of gravity and wide track for ultimate stability, and an exciting feeling behind the wheel.”

The optional Performance Pack provides the Polestar 3 with 517 hp and 671 lb.-ft. of torque, along with Polestar Engineered chassis tuning for the active dampers and air suspension. Polestar’s signature Swedish gold details are also added, including valve caps, seat belts and a laser-etched interior light strip.

Additional information regarding Polestar 3 will be shared throughout the event on October 12. Join the live stream to learn more about the brand’s SUV for the electric age.

About Polestar 

Polestar Automotive Holding UK PLC (Nasdaq: PSNY) (“Polestar”) is a Swedish premium electric vehicle manufacturer. Founded by Volvo Car AB (publ.) (together with its subsidiaries, “Volvo Cars”) and Zhejiang Geely Holding Group Co., Ltd (“Geely”), in 2017,  Polestar enjoys specific technological and engineering synergies with Volvo Cars and benefits from significant economies of scale as a result.  

Polestar is headquartered in Gothenburg, Sweden, and its vehicles are currently available and on the road in markets across Europe, North America, China, and the Asia Pacific. By 2023, the company plans that its cars will be available in an aggregate of 30 markets. Polestar cars are currently manufactured in two facilities in China, with additional future manufacturing planned in the USA. 

In the US, the local Polestar office is located in the New York metro area, in Mahwah, New Jersey. Polestar Spaces have been opened in Los Angeles, the San Francisco Bay Area, and Orange County, Calif.; New York City; Denver, Colorado; Boston; Central and Southern New Jersey; Dallas and Austin, Texas; Detroit; Minneapolis; Phoenix; Seattle; Atlanta; Charlotte, North Carolina; Connecticut; South Florida; and Washington D.C., with more to follow in Central California, the Pacific Northwest, and Hawaii. 

Polestar has produced two electric performance cars. The Polestar 1 was built between 2019 and 2021 as a low-volume electric performance hybrid GT with a carbon fiber body, 619 hp, 738 lb-ft of torque, and an electric-only range of 52 miles (EPA) – the longest of any hybrid car in the world.  

The Polestar 2 electric performance fastback is the company’s first fully electric, high-volume car. The Polestar 2 model range includes three variants with a combination of long- and standard-range batteries as large as 78 kWh, and dual- and single-motor powertrains with as much as 476 hp and 502 lb-ft of torque. 

From 2022, Polestar plans to launch one new electric vehicle per year, starting with Polestar 3 – the company’s first electric performance SUV which is expected to debut in October 2022. Polestar 4 is expected to follow in 2023, a smaller electric performance SUV coupe.  

In 2024, the Polestar 5 electric performance 4-door GT is planned to be launched as the production evolution of Polestar Precept – the manifesto concept car that Polestar released in 2020 that showcases the brand’s future vision in terms of design, technology, and sustainability. As the company seeks to reduce its climate impact with every new model, Polestar aims to produce a truly climate-neutral car by 2030. 

In March 2022, Polestar revealed its second concept car, an electric performance roadster which builds on the design, technology and sustainability ambitions laid out by Precept and showcases the brand’s vision for future sports cars. The hard-top convertible presents an evolution of the unique design language first shown by Precept and emphasizes a dynamic driving experience. The concept further develops the focus on sustainability and technology, aiming towards greater circularity. Polestar confirmed in August 2022 that a version of the concept will be produced as the Polestar 6 electric performance roadster, with launch expected in 2026. 

FOLLOW POLESTAR: Instagram I Twitter I Facebook I YouTube

2023 Polestar 2 images of electric car via Matt Rhodes (Extension PR) for use by 360 Magazine

Polestar Electric Fastback Upgrades

Polestar cars recently announced design updates, range estimates and pricing for the 2023 Polestar 2 all-electric fastback. Pricing for the updated Polestar 2 Long range Single motor will start at $53,950, or $48,950.

Thanks to software improvements, Polestar anticipates a vehicle range increase for the dual-motor Polestar 2 of approximately 11 miles compared to the current model, expected to reach a preliminary estimated 260-mile US EPA range.

Additionally, the updated model adds a number of new features in a nod to the Polestar design ethos of continual improvement.

Equipment upgrades to the award-winning Polestar 2 include an upgraded heat pump designed for better cold-weather performance, new design options across the interior and exterior of the car, and a more advanced air quality sensor.

The most notable tech improvement is a software update to the mechanical heat pump, which is available as part of the Plus Pack. Thanks to the software changes, the heat pump is designed to now deliver range improvements in a wider range of temperatures, from 20 degrees Fahrenheit (-7degrees Celsius) to 77 degrees Fahrenheit (25 degrees Celsius). Within that temperature range, the heat pump helps increase real-world driving range by approximately 10% beyond that of the standard model. A future Over-the-Air (OTA) update will upgrade existing Polestar 2 cars equipped with the heat pump, free of charge.

New design touches for 2023 are two exterior colors and one new interior option, inspired by the Polestar 1 electric performance hybrid. Outside, Polestar 2 adopts the same “Space” metallic black color previously offered on the Polestar 1, and a new “Jupiter” metallic shade. “Magnesium” is now the standard, cost-free exterior color. Both the standard 19-inch and optional 20-inch wheels have striking new designs.

Inside, a newly ventilated Nappa leather option is available in a light grey “Zinc” color, which is paired with new Light Ash wood trim. The leather is sourced from a new supplier, Bridge of Weir, known for their sustainability and animal welfare credentials, and a quality grade only found elsewhere in bespoke luxury and supercar cabins. Thanks to strong customer demand, Polestar has also developed a removable mesh sunshade for vehicles with the panoramic glass roof. Cars fitted with the Plus Pack now include an advanced cabin air filter helping improve cabin air, and new air quality sensor and app will allow drivers to see a breakdown of the air circulating outside of the vehicle, including pollen types. This includes a list-type visualization on the vehicle center screen.

Additional to the Performance Pack for 2023 is a performance software upgrade. The upgrade adds 68 horsepower and 15 lb-ft of torque to the car. The Performance Pack is only available for dual-motor variant. The software will also be available to purchase as a separate software upgrade–for both existing and future dual-motorcars, with and without the Performance Pack. More information regarding timing and pricing will be announced later this year.

With deliveries beginning in September, the single-motor 2023 Polestar 2 Long range Single motor is priced at $53,950 before any federal, provincial, territorial, or utility rebates. The 2023 Polestar 2 Long range Dual motor is priced from $58,950. Both variants qualify for the $5,000 federal electric rebate, as well as numerous provincial and territorial incentives, such as $8,000 in Quebec and $3,000 in British Columbia.

The latest changes build on the regular enhancements that are sent via Over-the-Air (OTA) updates to all Polestar 2 owners. Many major updates have already been sent OTA to vehicles, delivering around 100 upgrades such as increased range, satellite radio, an eco climate setting and charging improvements.

Customers can learn more about the 2023 Polestar 2 at polestar.com and configure and order their own HERE.

2023 Polestar 2 images of electric car via Matt Rhodes (Extension PR) for use by 360 Magazine
Polestar 2 illustration by Heather Skovlund (original photo credit: Polestar Press) for 360 Magazine

Polestar Raises $550 Million

Polestar Raises $550 Million from New Investors; Further Fundraising Considered

Polestar, the Swedish electric performance car company, has raised $550 million (USD) from a group of long-term financial investors.

The private placement of newly issued shares marks the first-time external investors have backed Polestar’s products, brand, industrial capability, financial ambitions and high growth potential.

The new investments come as the global market for electric cars is growing strongly, with consumers increasingly prepared to combine e-mobility with their environmental aspirations. Simultaneously, the technology behind electric cars is advancing and becoming more economical, making mass consumer adoption of electric vehicles an imminent reality.

These factors led to Polestar attracting considerable interest from a range of external investors as part of its fundraising activities. Polestar also confirms it is in ongoing discussions with global investors about possible additional fundraising. Full financial details of the transaction are not being disclosed at this stage.

The group of investors is led by Chongqing Chengxing Equity Investment Fund Partnership, Zibo Financial Holding and Zibo Hightech Industrial Investment. They have been joined by I Cube Capital, an arm of SK Inc., the South Korean global conglomerate, and a range of other investors.

The new investment sets the stage for future growth by diversifying Polestar’s funding structure. It deepens the pool of resources available to accelerate product development and technological capabilities ahead of launching several ground-breaking cars in the coming years.

Since the brand’s launch in October 2017, Polestar has developed its own high-quality manufacturing facility in China, built a global sales and distribution operation, and successfully launched two vehicles – Polestar 1 and Polestar 2 to extremely positive customer feedback and media reviews.

“Our new investors have recognized that Polestar offers an alluring combination of established industrial and technological capability alongside superlative growth potential as the global auto industry goes electric,” said Thomas Ingenlath, CEO of Polestar.

Polestar 2
Photo Credit: Polestar Media Newsroom
Polestar 2
Photo Credit: Polestar Media Newsroom
Polestar 2
Photo Credit: Polestar Media Newsroom
Polestar 2
Photo Credit: Polestar Media Newsroom