The Polestar 3 shares a platform with affiliate Volvo Cars’ next-generation EX90 full-size crossover. Software issues related to the platform are said to have complicated the development of both models, a source told Automotive News.
The vehicle will begin production at Volvo’s assembly plant in Chengdu, China, midway through next year, but then launch at Volvo’s Ridgeville, S.C., factory a year later.
Polestar is betting big on its midsized crossover.
According to a previous Polestar investor presentation, the automaker expects to sell 24,000 crossovers globally next year, increasing to 67,000 in 2024 and 77,000 in 2025.
Hembrough said he expects to hit his numbers.
“We have an order bank already building on the vehicle, albeit just two weeks into the launch of the car,” the executive told Automotive News this week. “Based on the production deliveries in the forecast, I’ll have cars in time to meet my target for 2023.”
Haiken said early interest in the crossover has been strong, noting his store had received about 100 hand raisers before the product reveal. His suburban New York City store took 20 deposits on the roughly $85,000 crossover in the first week of reservations.
The Polestar 3 represents volume, profit and consumer awareness, Haiken said. “It’s what the masses want,” he said. “It’s an SUV.”
Hembrough declined to disclose reservation numbers so far, but said it’s “right on our target of where we want to be.”
At the launch event, attended by more than 900 dealers, investors and media, Polestar CEO Thomas Ingenlath described the Porsche Cayenne-sized crossover as the “anchor” that represents the “core of our brand.”
Polestar 3 “defines the very center, the heart of Polestar in terms of size, luxury, ambition and design,” Ingenlath said.
