Polestar to launch its new electric SUV on Hyundai and Kia’s home turf this summer
Polestar’s new electric SUV, the Polestar 4, is set to hit the Korean market in June, Hyundai and Kia’s home turf.
The new fully electric “SUV Coupe” is making its debut in key global markets. Polestar 4 production began in mid-November in China.
By the end of 2023, Polestar said it delivered its first 880 models to customers. Earlier this year, Polestar introduced its new electric SUV in Europe and Australia. In Europe, the Polestar 4 starts at EUR 63,200 ($68,500), and in Australia, it will cost you AUD 81,500 ($53,700).
Polestar’s new electric SUV made its North American debut at the NY Auto Show last month. The automaker announced Polestar 4 prices will start at $56,300 in the US with up to 300 miles range.
That’s less than the expected $60,000 price target. The base, Long Range Single Motor variant features 272 hp and 253 lb-ft of torque for a 0 to 60 mph time in 7.4 seconds.
Polestar 4 trim |
Starting Price (including $1,400 destination fee) |
Range (expected EPA-est) |
| Long Range Single Motor | $56,300 | 300 mi |
| Long Range Dual Motor | $64,300 | 270 mi |
| Long Range Dual Motor model (with Plus and Performance packs) |
$74,300 | 270 mi |
The more powerful Long Range Dual Motor variant starts at $64,300 with up to 270 miles range. It packs 544 hp and 506 lb-ft of torque for a 0 to 60 mph sprint in 3.7 seconds.
With the added Plus and Performance packages, Polestar 4 prices can run upwards of $74,300. Other optional packages include Pilot (+$1,500) and Pro (+$2,000).
The Polestar 4 is expected to compete with Tesla’s best-selling Model Y (although Polestar does not see Tesla as its competition) and the new Porsche Macan. Now, Polestar’s new electric SUV is about to hit Hyundai and Kia’s home market.
Polestar’s new electric SUV to take on Hyundai and Kia
Polestar already announced it would contract manufacture the 4 in a Busan, South Korea factory last year.
Renault Korea Motors owns the plant, which is its largest plant in Asia. Polestar’s 4 will be the first EV built at the facility and will be produced for the Korean and North American markets.
Polestar announced on Friday that it will launch its new electric SUV in Korea in June. Deliveries are expected to kick off in October.
“We are working on various preparatory measures such as certification, and we will do our best to launch (the vehicle) in June and deliver it to (customers) in October.”
The Polestar 4 will be the second electric SUV to hit the Korean market, following the Polestar 3. One of the most unique features is the Polestar 4’s lack of a rear window.
Polestar says this helps maximize interior space while providing a sleek silhouette. The vehicle’s camera system gives a clear view of its surroundings, including the rear.
With a 100 kWh battery, Polestar aims for the electric SUV to offer up to 379 miles (610 km) WLTP driving range.
Prices have yet to be revealed, but Polestar’s new electric SUV is expected to easily top Hyundai and Kia electric models at over $55,000.
Electrek’s Take
In 2023, Hyundai and Kia accounted for over 90% of domestic car production in Korea. Hyundai had 52% of the share, while Kia had 39%. Both automakers’ sales increased, with Hyundai’s up 10.6% and Kia’s advancing 4.6% year over year.
Meanwhile, Polestar is a premium EV maker with a niche market. Polestar is not expected to sell millions of vehicles, but it could rival top models like the Kia EV9 or the upcoming Hyundai IONIQ 9.
Korea is a key market for luxury automakers like Porsche, Mercedes-Benz, and BMW. It is among the top three Asia markets for global luxury brands. For example, around 34,000 vehicles priced over $108,000 (150 million Won) were sold last year, according to KAIDA and industry figures.
However, a new government rule requiring company cars worth over $58,000 to wear a bright neon green license plate is turning away buyers.
Luxury car sales have fallen by 27% since the new law was introduced in January. Can Polestar make its presence known in the region? Let us know what you think in the comments below.
Source: TheKoreaHerald
FTC: We use income earning auto affiliate links. More.
Listen to a recap of the top stories of the day from Electrek. Quick Charge is now available on Apple Podcasts, Spotify, TuneIn and our RSS feed for Overcast and other podcast players.
New episodes of Quick Charge are recorded Monday through Thursday and again on Saturday. Subscribe to our podcast in Apple Podcast or your favorite podcast player to guarantee new episodes are delivered as soon as they’re available.
Stories we discuss in this episode (with links)
Why gas bikes just can’t compete with electric motorcycles in the summer
Tesla’s next-gen Dojo AI training tile is in production
The US just proposed 18 GW of new offshore wind sales
There’s a new trend making electric bike batteries safer
Toyota goes large on hydrogen with new US headquarters
Listen & Subscribe:
Share your thoughts!
Drop us a line at tips@electrek.co. You can also rate us in Apple Podcasts or recommend us in Overcast to help more people discover the show!
FTC: We use income earning auto affiliate links. More.
You’re reading Electrek— experts who break news about Tesla, electric vehicles, and green energy, day after day. Be sure to check out our homepage for all the latest news, and follow Electrek on Twitter, Facebook, and LinkedIn to stay in the loop. Don’t know where to start? Check out our YouTube channel for the latest reviews.
Environment
Coterra’s smart pivot to oil from natural gas leads to an excellent first quarter and sweeter outlook
Environment
A fully-electric 10,000 ton container ship has begun service equipped with over 50,000 kWh in batteries
Chinese state-owned company COSCO Shipping has launched what it calls the “world’s largest” river-to-sea electric container ship. The Green Water 01 is a 10,000-ton+ fully electric vessel that sets a new benchmark in sustainability in the marine logistics industry.
China Ocean Shipping (Group) Company, or COSCO for short, is a state-owned multinational conglomerate headquartered in Shanghai specializing in marine transport. Not to be confused with Costco, COSCO Shipping was founded as a subsidiary in 2016 following an approved merger between COSCO and China Shipping.
The COSCO Group is the largest liner carrier in China, transporting hundreds of container vessels daily while also providing ships to Chinese automakers to help them export their electric vehicles to new markets overseas, including Europe.
To adapt to the times, COSCO has developed a massive, fully electric container ship, which has now officially begun service in China.
COSCO’s electric container ship begins service in China
According to a WeChat post from COSCO Shipping, which features reports from China’s CCTV, the company’s Green Water 01 electric container ship arrived safely and was berthed in the Port of Yangshan by the local maritime safety administration.
The Green Water 01 sails at a total length of 119.8 meters, a molded width of 23.6 meters, a molded depth of 9 meters, a design draft of 5.5 meters, and a maximum speed of 19.4 km/h (12 mph). COSCO Shipping says the Green Water 01 electric container ship presents multiple firsts for the marine industry, including total length, width, container capacity, deadweight tonnage (10,0000 tons), and battery capacity (50,000+ kWh).
Speaking of batteries, the electric container ship is powered by a large-capacity battery combining for over 50,000 kWh. However, COSCO says the number of battery modules can be configured depending on the length of the voyage at sea. For example, additional 20-foot battery boxes offering 1,600 kWh of electricity can be loaded onto the container for extra range.
This ship’s captain, Wang Jun, told CCTV that when the Green Water 01 is equipped with 24 battery boxes, the electric container ship can complete trips that consume 80,000 kWh of energy, equivalent to approximately 15 tons of fuel for a similar journey in a traditional container ship.
COSCO Shipping also shared that the new Green Water 01 can save 3,900 kg (8,600 pounds) of fuel for every 100 nautical miles traveled, cutting carbon dioxide emissions by 12.4 tons. Following the successful launch, the Green Water 01 has commenced weekly service between Shanghai and Nanjing.
FTC: We use income earning auto affiliate links. More.
-
Sports2 years ago‘Storybook stuff’: Inside the night Bryce Harper sent the Phillies to the World Series
-
Sports1 year agoMLB Rank 2023: Ranking baseball’s top 100 players
-
Environment12 months agoJapan and South Korea have a lot at stake in a free and open South China Sea
-
Sports3 years ago
Team Europe easily wins 4th straight Laver Cup
-
Sports6 months agoGame 1 of WS least-watched in recorded history
-
Environment1 year agoGame-changing Lectric XPedition launched as affordable electric cargo bike
-
Sports4 weeks agoStory injured on diving stop, exits Red Sox game
-
Technology3 years ago
Game consoles were once banned in China. Now Chinese developers want a slice of the $49 billion pie