Just ahead of first deliveries in the US later this year, Polestar has introduced two additional variants of the 2025 Polestar 3 SUV, including a new base-level dual motor version that starts at a price of $73,400. Other updates include add-on packages that are now standard and eligibility for lease incentives.
The 3 from Polestar ($PSNY) is the third model from the Geely-owned automaker and its second fully-electric option behind the popular Polestar 2 sedan. The 3 debuted in October 2022 as Polestar’s first crack at an SUV and the first branded EV to be built on US soil; a lot is riding on the success of the 3 SUV.
When launching in China a year ago, Polestar said the 3 would start at a price of $83,000 in the US, with deliveries scheduled to begin in late 2023. Since then, we’ve seen the 3 face production delays, citing more time required to finalize software development from Volvo Cars, which has since announced selling its majority stake in the EV brand.
After recently acquiring $1 billion in external funds, Polestar 3 production is now underway in China, with US builds expected to follow later this year. Before those deliveries begin, however, the Polestar 3 has seen some additions to its available variants as well as revised prices. Here’s the latest.
The Polestar 3 / Source: Polestar
Polestar 3 gains new lower price, dual motor variant
When initial US sales of the Polestar 3 began in January, the automaker only offered two options at a higher price than today’s news.
Customers could reserve a Long Range Dual Motor variant with Polestar’s Pilot Pack and Plus Pack included for $78,900 or choose the same drivetrain configuration that also includes a Performance Pack upgrade for $84,900 (not including $1,400 in destination fees).
Today, the EV automaker has introduced two additional variants of the Polestar 3, available at two separate prices below each of the original options. Here’s how the four choices of the 2025 Polestar 3 now compare by configuration, performance, and, of course, price:
Polestar 3 Variant
Long Range Dual Motor w/ Pilot Pack
Long Range Dual Motor w/ Pilot and Plus Pack
Long Range Dual Motor w/ Pilot and Performance Pack
Long Range Dual Motor w/ Pilot, Plus, and Performance Pack
Drivetrain
AWD
AWD
AWD
AWD
Battery Capacity
111 kWh
111 kWh
111 kWh
111 kWh
Max Charging Rate (DC)
250 kW
250 kW
250 kW
250 kW
EPA Estimated Range
315 miles
315 miles
279 miles
279 miles
Power
489 hp
489 hp
517 hp
517 hp
Torque
620 lb-ft
620 lb-ft
671 lb-ft
671 lb-ft
0-60 mph Acceleration
5.0 seconds
5.0 seconds
4.7 seconds
4.7 seconds
Starting Price*
$73,400
$78,900
$79,400
$84,900
* – Prices do not include $1,400 in destination fees / Source: Polestar
The bolstered Polestar 3 portfolio now includes a standard Long Range Dual Motor version of the Polestar 3, with the Pilot Pack add-on, but no Plus or Performance, starting at a price below $73,500.
The Pilot Pack remains standard on all Polestar 3 variants and includes Lane Change Assist, Park Assist Pilot, and a head-up display. US customers can also now opt for an SUV variant priced between the two initially announced options that include the Pilot and Performance upgrades, but not the Plus Pack, which includes a 25-speaker audio system designed explicitly for Polestar 3 by Bowers & Wilkins, MicroTech, or animal welfare wool seats, 21-inch Plus wheels, and heated seats in the rear. That variant of the Polestar 3 starts at a price of $79,400.
In addition to better power, torque, and acceleration detailed in the chart above, the Polestar Performance Pack includes chassis tuning, 22-inch Performance forged wheels, and “Swedish gold” accents throughout, including its seat belts.
As we reported in January, all variants of the new 2025 3 SUV also qualify for the Polestar Clean Vehicle Incentive of $7,500 for customers who choose to lease. US customer deliveries of the Polestar 3 will begin in Q2 2024, beginning with the $73,400 standard version. Starting today, new variants with revised pricing of the 2025 Polestar 3 are available to configure and pre-order.
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BP logo is seen at a gas station in this illustration photo taken in Poland on March 15, 2025.
Nurphoto | Nurphoto | Getty Images
Oil giant BP has been thrust into the spotlight as a prime takeover candidate — but energy analysts question whether any of the likeliest suitors will rise to the occasion.
Britain’s beleaguered energy giant, which holds its annual general meeting on Thursday, has recently sought to resolve something of an identity crisis by launching a fundamental reset.
Seeking to rebuild investor confidence, BP in February pledged to slash renewable spending and boost annual expenditure on its core business of oil and gas. CEO Murray Auchincloss has said that the pivot is starting to attract “significant interest” in the firm’s non-core assets.
BP’s green strategy U-turn follows a protracted period of underperformance relative to its industry peers, with its depressed share price reigniting speculation of a prospective tie-up with domestic rival Shell. U.S. oil giants Exxon Mobil and Chevron have also been touted as possible suitors for the £54.75 billion ($71.61 billion) oil major.
Shell declined to comment on the speculation. Spokespersons for BP, Exxon and Chevron did not respond to a request for comment when contacted by CNBC.
“Certainly, BP is a potential takeover target — no doubt about that,” Maurizio Carulli, energy and materials analyst at Quilter Cheviot, told CNBC by video call.
“I would conceptualize the question of ‘will Shell bid for BP’ in the more general consolidation that it is happening in the resources sector, both oil but also mining — particularly in the past year a lot of companies thought that to buy was better than to build,” he added.
A Shell logo in Austin, Texas.
Brandon Bell | Getty Images News | Getty Images
In the energy sector, for example, Exxon Mobil completed its $60 billion purchase of Pioneer Natural Resources in May last year, while Chevron still seeks to acquire Hess for $53 billion. The latter agreement remains shrouded in legal uncertainty, however, with an arbitration hearing scheduled for next month.
In the mining space, market speculation kicked into overdrive at the start of the year following reports of a potential tie-up between industry giants Rio Tinto and Glencore. Both companies declined to comment at the time.
Never say never, right? I think even Exxon-Chevron in the depth of the pandemic held talks so I think that would have been even wilder to say.
Allen Good
Director of equity research at Morningstar
Quilter Cheviot’s Carulli named Chevron as a potential suitor for BP, particularly if the U.S. energy giant’s pursuit of Hess falls through.
Speculation about a potential merger between Shell and BP, meanwhile, is far from new. Carulli said that while the rumors have some merit, a prospective deal would likely trigger antitrust concerns.
Perhaps more importantly, Carulli added that a move to acquire BP would conflict with Shell’s steadfast commitment to capital discipline under CEO Wael Sawan.
U.S. hedge fund Elliott Management has reportedly built a near 5% stake to become one of BP’s largest shareholders. Activist investor Follow This, meanwhile, recently pushed for investors to vote against Helge Lund’s reappointment as chair at BP’s upcoming shareholder meeting in protest over the firm’s recent strategy U-turn. BP has since said that Lund will step down, likely in 2026, kickstarting a succession process.
“I think there are three major optionalities in BP’s portfolio that any activist investor would love to see monetized. The first one is not all in BP’s hands, it’s the monetization of the Rosneft stake,” Della Vigna told CNBC over a video call.
BP announced it was abandoning its 19.75% shareholding in Russian state-owned oil company Rosneft shortly after Moscow’s full-scale invasion of Ukraine in late February 2022. It had marked a costly and abrupt end to more than three decades of activity in the country.
CEO of BP Murray Auchincloss speaks during the CERAWeek oil summit in Houston, Texas, on March 19, 2024.
Mark Felix | AFP | Getty Images
A second optionality for BP, Della Vigna said, is the firm’s marketing and convenience business.
“I mean, within BP, a company that trades on three times EBITDA, there’s a division that can trade at 10 times EBITDA, right? Amazing. You can make the same point for a lot of the other Big Oils,” Della Vigna said.
EBITDA is a standard metric that refers to a firm’s earnings before interest, tax, depreciation and amortization.
“The third option is BP is a U.S.- centered energy company — and it’s clear, right? BP is the most U.S.- exposed of all the majors, more than Exxon and Chevron,” Della Vigna said, noting that 40% of BP’s cash flow comes from the U.S.
“So, being listed in the U.K., when the U.K. gets you the biggest discount of any other region in Big Oil, doesn’t feel right. I think some form of relocation or transatlantic merger may be worth considering,” he added.
Utility Idaho Power has asked the Idaho Public Utilities Commission (PUC) to drastically slash the rates it pays rooftop solar customers for excess energy. This move could severely impact solar adoption in Idaho just as electricity rates are climbing.
The utility wants to drop the Export Credit Rates (ECRs) – the amount rooftop solar owners get credited for feeding power back to the grid – by 60%, from the current 6.18 cents per kilowatt-hour to just 2.46 cents. That’s a massive 72% plunge from the previous rate of 8.8 cents per kilowatt-hour, which had stood for over a decade.
If the PUC approves the proposal next Month, the new lower rates will kick in on June 1, right before peak solar-producing months. This shift is part of Idaho Power’s controversial “Net Billing” program approved in December 2023, despite public backlash. Under this new system, ECRs would change every year, making it nearly impossible for residents to calculate the financial returns of their rooftop solar investments – a major deterrent to adopting solar.
The proposed rates would vary seasonally. From October through May, when electricity demand drops, Idaho Power wants to cut solar payments even further by a staggering 80%, paying less than 1 cent per kilowatt-hour. Meanwhile, it plans to charge non-solar customers at least 8 cents per kilowatt-hour for the same electricity, padding its own profits.
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Idaho Power is basing these rate cuts on an internal “Value of Distributed Energy Resources Study” from 2022. However, environmental groups hired independent analysts who argue that Idaho Power’s data selectively undervalues solar power.
“How can our state regulators just let this happen? The PUC is supposed to double-check the utility’s math to make sure Idaho ratepayers aren’t being taken advantage of,” said Lisa Young, director of the Idaho Sierra Club. “Distributed solar is worth more than the retail electricity rate, not less. The PUC needs to stop turning its cheek on corrupted math and letting this monopoly utility pad its pockets even more.”
Idaho Power customers already faced unpopular hikes to their monthly fixed charges from January 2025, when their flat monthly fees rose from $5 to $15. These fixed charges hit low-income residents hardest and discourage energy conservation and rooftop solar.
“People in Idaho go solar because it lowers their power bills, gives them energy freedom and security, and helps the environment,” said Alex McKinley, owner of the local small business Empowered Solar. “Idaho Power is trying to take that opportunity away from people by skewing these rooftop solar rates in its favor. It’s not right.”
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Global EV sales surged to 1.7 million units in March, hitting 4.1 million for Q1 2025 as the EV market continues its robust growth, according to new data from EV research house Rho Motion. Year-over-year sales jumped 29% and marked an impressive 40% month-over-month leap from February.
Europe saw a solid 22% growth in EV sales year-to-date, driven primarily by battery-electric vehicles (BEVs), which climbed 27%. Germany’s BEV market rose 37%, Italy surged by 64%, and the UK hit a milestone with over 100,000 EVs sold in March alone, a first-time record boosted by new vehicle registrations. France’s EV sales dropped 18%, severely impacted by reduced government subsidies, with BEVs down 5% and plug-in hybrids (PHEVs) falling sharply by 47%.
In North America, EV sales increased by 16% in Q1 2025. The market’s outlook remains unclear due to Donald Trump’s recent imposition of substantial tariffs. February’s 25% tariff on auto imports from Canada and Mexico and a broader tariff in March affecting all auto imports are expected to hike consumer prices. With approximately 40% of US EV sales being imported from countries like Japan, Korea, and Mexico, the impact on affordability and market dynamics is likely significant.
China, still the global leader in EV adoption, saw EV sales grow 36% year-over-year in Q1, approaching 1 million units in March alone – a milestone previously reached in August 2024. The US-China tariff crisis will have a minimal impact on China due to the low volume of cross-border EV sales. However, Tesla’s Model X and Model S are exported from the US to China, and the prices for these could nearly double due to tariffs.
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Rho Motion data manager Charles Lester said, “This quarter, while turbulent, has seen a strong rate of growth globally for the EV market. Some countries, such as the UK, had a record-breaking March as drivers continue to go electric.
Meanwhile, in North America, forecasts are struggling to keep up with the rate of policy announcements under the current White House administration. What is sure is that the electric vehicle market is already struggling to compete with ICE on cost, so reductions in subsidies and hefty tariffs for a very international supply chain are guaranteed to have a cooling effect on the industry.”
EV sales in Q1 2025 vs Q1 2024, YTD percentage:
Global: 4.1 million, +29%
China: 2.4 million, +36%
Europe: 0.9 million, +22%
North America: 0.5 million, +16%
Rest of World: 0.3 million, +27%
The bottom line: EV sales are up month-over-month, quarter-over-quarter, and year-over-year.
If you live in an area that has frequent natural disaster events, and are interested in making your home more resilient to power outages, consider going solar and adding a battery storage system. To make sure you find a trusted, reliable solar installer near you that offers competitive pricing, check out EnergySage, a free service that makes it easy for you to go solar. They have hundreds of pre-vetted solar installers competing for your business, ensuring you get high quality solutions and save 20-30% compared to going it alone. Plus, it’s free to use and you won’t get sales calls until you select an installer and share your phone number with them.
Your personalized solar quotes are easy to compare online and you’ll get access to unbiased Energy Advisers to help you every step of the way. Get started here. –trusted affiliate link*
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