COPENHAGEN, Denmark — The truck-loving U.S. will be the largest single market for Polestar’s newest crossover, the Swedish electric vehicle brand’s top U.S. executive told Automotive News.
The dual-motor Polestar 3 midsize, revealed at an event here Wednesday, is built on a new all-electric platform and has an estimated EPA range of up to 300 miles. It will arrive at U.S. stores late next year and start at $85,300, including shipping.
Polestar U.S. CEO Gregor Hembrough said North America should account for about 30 percent of the new crossover’s global sales, which Polestar expects to hit 67,000 in 2024.
“We now enter into the largest segment in North America,” Hembrough said of the new crossover. “From a design perspective, from a performance perspective, from a handling perspective … [the Polestar 3] catapults the brand into a prime-time segment.”
Network expansion
To make those sales numbers, Polestar will expand its U.S. retail network by nearly half, to 40 rooftops at the end of next year.
Polestar’s digital-first retail model avoids high-dollar dealership investments in favor of small, low-cost “Spaces” in malls and mixed-use urban developments.
The stores are 2,000- to 2,500-square-foot information centers, and unlike with some other EV startups, they are run by franchised dealers selected from affiliate Volvo’s retail network. Polestar vehicles are serviced at the dealers’ Volvo stores.
“We will continue scaling our footprint with incremental Spaces as we move into 2023, 2024, 2025,” Hembrough said. “We’re not done.”
But the CEO cautioned that just adding rooftops to reach expected volumes isn’t the solution. Polestar’s existing network needs to become more efficient so it can increase service volumes, he said. That may mean adding service bays or technicians.
