A more affordable Polestar electric SUV is set to launch by the end of the year. Polestar (PSNY) will unveil a cheaper, entry-level Polestar 3 model to compete with Tesla and Porsche. Here’s what we know so far.

Meet the Polestar’s new electric SUV

With the Polestar 3 expected to begin rolling out in the US in the coming months, the automaker is already planning to launch a cheaper option for buyers.

Polestar 3 production began in April in Chengdu, China, a few months ago, with additional production in South Carolina expected to start in mid-2024. Polestar has already successfully completed early production tests in the US.

The Polestar 3 will be the company’s first EV built on two continents as the brand looks to expand in major markets globally.

The entry-level Long Range Dual Motor was expected to start at $83,900 with up to 300 miles EPA range. However, in March, Polestar announced a new starting MSRP of $73,400 with Pilot Pack included as standard on all trims.

Polestar expects deliveries of the standard Long Range Dual Motor to begin in the second quarter of 2024.

The company also revealed that the Polestar 3 is eligible for its $7,500 Polestar Clean Vehicle Incentive on leases, potentially bringing prices as low as $65,900.

The Polestar 3 Long Range Dual Motor with standard Pilot Pack and optional Plus Pack starts at $78,900. Polestar’s Plus Pack includes a 1,610-watt Bowers and Wilkins sound system, 21″ wheels, bio-attributed MicroTech, and heated rear seats.

Polestar’s Long Rang Dual Motor model boasts up to 489 hp and 620 lb-ft of torque with 315 EPA estimated miles range.

For added performance, the Polestar 3 with Performance Pack is available for $79,400. This boosts output to 517 hp and 671 lb-ft of torque for a 0 to 60 mpg sprint in 4.6 seconds. It also includes “Swedish Gold” accents, 22″ performance wheels, and Polestar-engineered chassis tuning.

Polestar to launch cheaper Polestar 3 variant

Polestar confirmed a cheaper Polestar 3 will join the lineup by the end of the year as the new base model.

Speaking with the media, Polestar’s global head of communications, Brent Ellis, said, “Later this year, the single-motor version of the Polestar 3 will be available.”

Ellis added, “It will be rear-wheel drive, and we will have more details a few months from now when the time comes to launch.”

Although details and pricing are yet to be revealed, Polestar’s product manager told Drive the RWD model will use the same rear electric motor as the AWD Long Range Dual Motor model with 180 kW (241 hp).

Like the other trims, the RWD model will feature a 111 kWh battery pack, which should see increased range.

Polestar 3 deliveries are expected to kick off in Australia in June 2024. However, it will be a true electric five-seater. Ellis confirmed, “There’s not going to be a seven-seater at any point.”

The cheaper model will likely launch in the US and other global markets. More details are expected closer to its official debut. Check back for more info soon.

Electrek’s Take

Although Polestar claims Tesla is not the competition (more like Porsche’s new Macan EV), a cheaper electric SUV could help it keep pace with Tesla’s best-selling Model Y.

Tesla’s RWD Model Y starts at $44,990 with up to 320 miles range. The Long Range AWD model costs $47,990 with up to 310 miles range. Meanwhile, the Performance variant starts at $51,490 with a 0 to 60 mph sprint in 3.5 seconds. With the $7,500 EV tax credit, Tesla Model Y prices start at as low as $37,490.

Which one would you buy? The Tesla Model Y or the Polestar 3 (or Porsche Macan EV)? Drop us a comment below.

EVgo (Nasdaq: EVGO) will begin to deploy North American Charging Standard (NACS) connectors on its DC fast charging network this year.

The Los Angeles-based charging provider said the stations included in the rollout will serve both CCS and NACS electric vehicles. EVgo will first deploy NACS connectors in markets with “high NACS vehicle penetration” – or, in other words, areas with a lot of Tesla drivers.

The plan is, of course, to maximize charger utilization. EVgo reports that overall utilization on its network in Q1 2024 was approximately 19%, up from approximately 9% year-over-year.  

Badar Khan, CEO of EVgo, said, “EVgo had previously identified more than 100,000 potential stalls with strategic site host partners, and with recent industry changes, we welcome further dialogue with our current and potential partners on how we can collaborate to deploy more fast charging infrastructure in convenient locations for drivers.”

Both Tesla and future non-Tesla NACS EVs can use EVgo’s plug-and-charge feature, Autocharge+. It’s available to over 50 EV models, including all Teslas compatible with the Tesla-made CCS adapter.  

EVgo says its NACS roll-out will be “unique given the network’s proliferation of high-power 350kW chargers that require liquid-cooled cable technology.” Nearly 40% of EVgo’s stalls are currently powered by a 350kW charger – almost double the percentage a year ago.  

Read more: California now has 1 EV fast charging station for every 5 gas stations

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A new all-electric luxury SUV is set to hit the market next year to compete with Tesla’s best-selling Model Y. Volvo is joining the luxury electric SUV market with its new EX60 launching next year. The new EX60 will rival premium models from Tesla, Porsche, BMW, and Mercedes-Benz.

As one of the first legacy automakers to commit to an all-electric future, Volvo is seeing the results.

After launching its most affordable EV, the EX30, last year, Volvo’s compact electric SUV is already making a significant impact on the company.

Volvo set a new sales record in the first three months of the year with growing demand for its electric models. Fully electric vehicles accounted for over 40% of sales in 19 markets. That’s up from 13 in Q4 2023.

According to Volvo Cars’ chief commercial officer and deputy CEO, the EX30 is helping boost sales. Volvo’s EV sales share hit a record 21% in Q1, with 14,500 EX30 models sold. This was enough to top the EC60 (6,000) while inching closer to the EX40 (17,400).

Volvo also began production of its first electric minivan, the EM90, for China. Deliveries began in March. Meanwhile, Volvo is preparing to launch its larger EX90, which is already attracting Ferrari-like wait times.

Volvo EX60 to launch as the latest luxury electric SUV

Volvo looks to keep the momentum rolling next year with its new EX60 expected to debut as an all-electric replacement to the hybrid XC60 Recharge.

The new EV will compete against premium SUVs like the Tesla Model Y, Porsche Macan EV, and Mercedes-Benz EQC. It will sit between the EX40 and EX90 in Volvo’s expanding EV lineup.

According to Auto Express, the new Volvo electric SUV will be based on the larger EX90’s platform, which could pack up to 100 kWh of battery power. Erik Severinson, chief product and strategy officer at Volvo Cars, calls it an “evolution of the Volvo-developed platform.”

Volvo’s EX60 is expected to maintain the brand’s new design elements, such as its Thor Hammer LED headlights, closed grille, and alloy wheels.

At least one thing remains a mystery. Volvo did not confirm if the EX60 would include advanced LIDAR like the EX90. However, Severinson said the brand is exploring “different kinds of sensors going forward.”

The EX60 will feature a new “structural” battery pack, similar to BYD and Tesla. The design leads to “improved energy density” and “great driveability.”

According to the report, the EX60 could feature up to 400 miles WLTP range. The EX90, with a 107 kWh battery pack, offers up to 364 miles. However, the EX60 is expected to feature a smaller, lighter battery with improved energy density.

Volvo is moving to use a megacasted rear underfloor for the EX60, a concept used by Tesla, NIO, XPeng, and others. According to Volvo, the new floor design weighs 15 to 20% less than a traditional stamped equivalent.

The method will also increase storage space while speeding up production times. Volvo is expected to launch the EX60 when megacasting production begins next year.

We could see the Volvo EX60 unveiled by the end of the year, with prices and specs arriving at a later date. Check back for more details soon.