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
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Paris’ bike-share system, Vélib has long been considered one of the shining success stories of urban micromobility. With a massive fleet of over 20,000 pedal and electric-assist bicycles around Paris, the service has helped millions of residents and tourists get around the City of Light without needing a car or scooter. But lately, a growing problem is threatening to knock the wheels off this urban mobility marvel: theft and joyriding.
According to city officials and the service operator, more than 600 Vélib bikes are now going missing every single week. That’s over 30 bikes a day simply vanishing from the system – some stolen outright, others taken on “joy rides” and never returned.
“At the moment we’re missing 3,000 bikes,” explained Sylvain Raifaud, head of the Agemob company that currently operates the Velib system. That’s nearly 15% of over 20,000 Vélib bikes across Paris.
The sticky-fingered culprits aren’t necessarily professional thieves or organized crime rings. Instead, they’re often regular users who treat the shared bikes like disposable toys.
The city estimates that many people have figured out how to pry the bikes out of the system’s parking docks, unlocking one for a casual cruise and then ditching it somewhere far from a docking station.
Once pried free, the bikes are technically usable for the next 24 hours until their automatic locking feature kicks in. At that point, the bikes are often simply abandoned. Some end up in alleyways. Others get tossed in rivers. A few just disappear completely.
And since the bikes are intended to be parked at their many docking stations around the city, they don’t have GPS chips, further complicating recovery of “liberated” bikes.
The issue started small but has grown into more than an inconvenience – it’s beginning to undermine the entire purpose of the service. With bikes going missing at such a high rate, many Vélib docking stations are left empty, especially during rush hours.
Riders looking for a quick commute or a convenient hop across town are increasingly finding themselves without available bikes, or having to walk long distances to find a functioning one.
That kind of unreliability chips away at user confidence and threatens to drive potential riders back into cars, cabs, or other less sustainable forms of transport at a time when Paris has already made great strides to dramatically reduce car usage in the city.
The losses are financially painful, too. Replacing stolen or vandalized bikes isn’t cheap, and the resources spent on tracking down missing equipment or reinforcing anti-theft measures are stretching thin. Vélib has faced theft and vandalism issues before, especially during its early years, but this latest surge has officials sounding the alarm with renewed urgency.
Officials acknowledge that there’s no easy fix. Paris, like many cities with bike-share systems, walks a fine line between accessibility and accountability. Part of what makes Vélib so successful is its ease of use and widespread availability. But those same features make it vulnerable to misuse – especially when enforcement is limited and the consequences for abuse are minimal.
The timing of the problem is especially unfortunate. In recent years, Paris has seen impressive results in reducing car traffic, expanding bike lanes, and promoting cycling as a key part of its sustainable transport strategy. Vélib is a cornerstone of that plan. But if the system becomes too unreliable, it risks losing the very people it was designed to serve.
Meanwhile, as Parisians increasingly find themselves staring at empty docks, the challenge for the city and Vélib will be to restore confidence in the system without making it harder to use. That means striking the right balance between freedom and responsibility, between open access and protection against abuse.
In a city where cycling is supposed to be the future of mobility, losing thousands of bikes to joyriders and sticky fingers isn’t just frustrating; it’s unsustainable.
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