After months of anticipation, Polestar has pulled the entire sheet off its first-ever electric SUV, the Polestar 3. Today we have a multitude of new details surrounding the SUV to share, including estimated range, performance specs, and starting price. The Polestar 3 will also eventually be built in the US, begging the question whether some iteration of it will be able to qualify for federal tax credits.
Polestar is an EV-centric automotive brand launched in 2017 as a venture co-owned by Volvo Cars Group and Geely Holding. The automaker currently sells two electrified vehicles – the PHEV Polestar 1 and the all-electric Polestar 2 – but there are at least four more on the way.
The two EVs above share plenty of Volvo DNA, but Polestar has been working to deliver a new bespoke breed of EV models beginning with the Polestar 3 SUV. It will be followed by a Polestar 4 SUV in 2023 and the the Polestar 5 in 2024, based upon Polestar’s original concept EV, the Precept.
Most recently, Polestar revealed its O₂ roadster concept will also enter production as the Polestar 6, but enough about the future. Let’s focus on the here and now, and that includes the Polestar 3, its pricing, and our first look at its interior. Check it out.
Polestar 3 standard features and performance specs
According to its press release, the Polestar 3 will begin deliveries next year, beginning with a dual motor long range trim. For the first model year versions, Polestar will include the Plus Pack and Pilot Pack fitted as standard.
The Plus pack includes a 25-speaker audio system from Bowers & Wilkins with 3D surround sound and Dolby Atmos capability, soft-closing doors, an electric steering column, and a heated steering wheel.
The Pilot pack includes a head-up display, Park Assist Pilot and the Pilot Assist driver assistance system. In Q2 of 2023, customers will also be able to order a Pilot Pack add-on that includes LiDAR and a control unit from NVIDIA, preparing the Polestar 3 for autonomous capabilities in the future.
For an additional $6,000, customers can add the Performance Pack, which ups the SUV’s torque and horsepower as you’ll see in the specs below. This pack also includes unique 22-inch forged alloy wheels, Pirelli P-Zero tires, and signature “Swedish gold” details. Here are those additional, pertinent specs.
Polestar 3
Long Range Dual Motor
Power
489 hp (617 hp with Performance Pack)
Torque
620 lb-ft (671 lb-ft with Performance Pack)
0-60 mph (targeted)
4.9 seconds (4.5 seconds with Performance Pack)
Top Speed
130 mph
Battery Capacity (nominal)
111 kWh
Battery Type
400V lithium-ion
Range (targeted)
Up to 610 km (WLTP), 300 miles (EPA)
Motor Configuration
Dual, front and rear
Drag Coefficient
0.29 Cd
Drag Force
0.78 CdA
Charging Capacity (DC)
up to 250 kW
Charging Capacity (AC)
up to 11 kW
Curb Weight
5,696-5,886 lbs
Towing Capacity
3,500 lbs, 350 lbs tongue weight
Starting MSRP
$83,900*
* – MSRP does not include $1,400 destination charge or other taxes and fees
Interior
Moving inward, the Polestar 3 boasts a level of awareness to sustainability its creators are becoming quite well known for. Interior materials include MicroTech upholstery, animal welfare-certified leather, and fully-traceable wool upholstery. Polestar states then when 3 production begins, it will complete a life cycle assessment to find additional ways to reduce its carbon footprint throughout.
The Polestar 3 will be the first vehicle to feature centralized computing from the NVIDIA DRIVE core computer, serving as its AI brain. Infotainment will be powered by Qualcomm’s Snapdragon Cockpit Platform to deliver high-definition displays, premium sound quality and “seamless connectivity.”
The SUV’s OS is Android Automotive evolving from software that debuted in the Polestar 2. It allows for OTA updates, enabling continuous software improvements and rollouts of new features. Five radar modules, five external cameras, and twelve external ultrasonic sensors to support numerous advanced safety features inside and out of the EV and are complemented by two closed-loop driver monitoring cameras that can trigger warning messages, sounds, and even an emergency stop when detecting a distracted, drowsy, or unconscious driver.
Polestar 3 to be built in US, but may not qualify for tax credits
Initial production of the Polestar is expected to begin at Volvo Cars’ facility in Chengdu, China beginning in mid-2023 – first deliveries are expected in Q4 of 2023, about a year from now. However, Polestar is planning additional Polestar 3 manufacturing on US soil, the automaker’s first model to be built outside of China. Per CEO Thomas Ingenlath:
Polestar 3 is a powerful electric SUV that appeals to the senses with a distinct, Scandinavian design and excellent driving dynamics. It also takes our manufacturing footprint to the next level, bringing Polestar production to the United States. We are proud and excited to expand our portfolio as we continue our rapid growth.
Polestar states that US manufacturing will take place at Volvo Cars’ facility in Ridgeville, South Carolina toward the middle of 2024, with local deliveries expected soon thereafter. From that point onward, the automaker says all Polestar 3 production for North America and “select other markets” will originate from the US.
By being assembled on US soil, the Polestar 3 could eventually qualify for federal EV tax credits under revised terms of the recently signed Inflation Reduction Act. However, its current MSRP of nearly $84,000 already surpasses the price threshold of $80k for electric SUVs that will kick in on January 1, 2023.
In a July interview, Ingenlath divulged that the automaker intended to price the Polestar 3 between $75,000 and $110,000. Its initial MSRP for the dual motor long range version certainly fits in that pricing frame, but with previous intentions to aim lower, could we see a lower priced version of the SUV that qualifies for tax credits? Perhaps a stripped down, single-motor version of the Polestar 3 can get down below $80k, potentially qualifying for up to $7,500 back from Uncle Sam.
For now, the automaker’s focus is on getting this initial dual motor version out into the world next year, but we’d surmise that additional versions, whether priced higher or lower, should emerge at some point. Our next task will be to get behind the wheel of Polestar’s first SUV and report back.
Until then, here’s the world premiere video of the Polestar 3:
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A fully electric Isuzu pickup truck? That’s right. The D-MAX EV is Isuzu’s first electric pickup, and it will be rolling in the next few months. After kicking off mass production, Isuzu said the new EV pickup will “match the performance of existing diesel models,” boasting high towing capacity and payload.
Isuzu’s first electric pickup is launching in 2025
Isuzu announced on Tuesday that the D-MAX EV has officially entered mass production. The company has started building left-hand drive models, which will be shipped to Europe in the third quarter of 2025.
By the end of the year, production of right-hand drive models will begin for the UK, with sales expected to start in 2026.
The electric pickup is nearly identical to Isuzu’s popular gas-powered D-MAX, but swaps the diesel powertrain for a pair of electric motors. The D-MAX EV features new e-Axles, one on the front and the other at the rear, for a full-time 4WD system.
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The dual-motor powertrain enables it to match the performance of existing diesel models, with a combined 188 hp (140 kW) and a maximum torque of 240 lb-ft (325 Nm).
It can also tow over 7,700 lbs (3,500 kg) with a maximum payload of over 2,200 lbs (1,010 kg). That’s about the same as the D-MAX diesel, which has a 3,500 kg towing capacity and a payload capacity of up to 1,200 kg.
Powered by a 66.9 kWh battery, Isuzu’s first electric pickup boasts a driving range of up to 263 km (162 miles) on the WLTP. In the city, it can have a driving range of up to 224 miles (361 km).
Isuzu D-Max EV specs
Drive System
Full-time 4×4
Battery Type
Lithium-ion
Battery Capacity
66.9 kWh
Max Output
130 kW (174 hp)
Max Torque
325 Nm
Max Speed
Over 130 km/h (+80 mph)
Max Payload
1,000 kg (+2,200 lbs)
Max Towing Capacity
3.5t (+7,700 lbs)
Isuzu D-Max EV electric pickup specs
Built for on and off-road performance, the rugged electric pickup features over 8″ (210 mm) of ground clearance with a wading depth of nearly 24″ (600 mm).
Although prices have not been announced, the D-MAX EV is expected to start slightly higher than the diesel model, which has a base price of around € 36,500 ($41,600).
Isuzu’s popular D-MAX is sold in over 100 countries, including Europe, Asia, the Middle East, and Central and South America. The electric version will arrive in Europe in the next few months, followed by the UK and other regions in 2026.
The electric D-MAX will compete with the Toyota Hilux, Ford Ranger, and other electric pickups, such as Geely’s Radar R6, BYD’s Shark, and Ford’s F-150 Lightning.
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For the first time in five years, a Tesla insider required to report Tesla stock transactions bought stocks rather than selling them.
But the transaction is so small that it makes the whole situation hilarious.
Insiders in public companies are top executives and board members who are required to report to the SEC any transaction related to the company’s stock.
For Tesla, it has become a running joke that insiders only sell, never buy the stock.
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This has been true without exception for years.
We don’t know as much about executives as Tesla has a very short top executive bench who are required to file transactions. However, when it comes to its board members, they have been selling at an impressive rate.
However, we now have confirmation that a Tesla board member is buying, rather than selling.
Joe Gebbia, the Airbnb co-founder who joined Tesla’s board in 2022, confirmed that he bought 4,000 shares in Tesla last week worth about $1 million:
Electrek’s Take
Gebbia is estimated to be worth over $7 billion. Therefore, his purchase of $1 million worth of Tesla stock would be equivalent to my buying a fractional share in Tesla.
Furthermore, the disclosure confirmed that despite being on the board for the last 3 years, Gebbia owned only 111 shares in Tesla before the transaction.
That’s quite the show of confidence in Tesla.
Thie whole situation with the board is disappointing. Tesla’s core business is melting. The company reported its worst quarter in years last week, and the stock surged 20%.
None of it makes any sense.
The board is sitting on its hands while the most powerful force accelerating the advent of electric transport is being destroyed in favor of nonsensical predictions about the potential of solving self-driving and humanoid robots.
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Venmo, long a centerpiece of PayPal‘s growth story but often criticized for its lack of monetization, is becoming a bigger contributor to the business.
PayPal said Tuesday in its first-quarter earnings release that revenue at Venmo increased 20% year-over-year in the first quarter, though the company didn’t provide a dollar figure. PayPal acquired Venmo in 2013 through the acquisition of parent company Braintree.
While it’s long been a popular consumer service for sending money to friends, Venmo’s ability to drive meaningful revenue has been a major question mark for investors, especially as competition from rivals like Zelle and Square Cash has intensified.
Venmo’s total payment volume rose 10% from a year earlier, but revenue grew twice as fast, reflecting the business opportunity. Venmo only gets revenue from specific products like Pay with Venmo at online checkout, Venmo debit cards, and instant transfers, but not from peer-to-peer payments.
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Ahead of the earnings report, Jefferies analysts noted that Venmo revenue growth appeared to be “accelerating sharply” and flagged its rising contribution to branded checkout as a key area to watch. Compass Point analysts similarly said that while competition from Zelle and Square Cash remains fierce, Venmo’s traction with debit cards and online checkout could “open up new monetization avenues” if adoption trends continue.
The company added nearly 2 million first-time PayPal and Venmo debit card users during the quarter, and total debit card payment volume across PayPal and Venmo climbed more than 60%. Meanwhile, Pay with Venmo transaction volume surged 50% year over year, and Venmo debit card monthly active users grew about 40%.
PayPal reported better-than-expected earnings for the quarter but missed on revenue. The company reaffirmed its full-year guidance, citing macroeconomic uncertainty.