Volvo's Polestar unveils competitor to Tesla's Model 3

Volvo's Polestar unveils competitor to Tesla's Model 3

Meant to be more widely offered and attainable than the Polestar 1, the 2 will be priced around $63,000 for the launch edition before any federal or local tax incentives.

Polestar is an electric vehicle brand that was spun off from Volvo in 2017. The Polestar 2's 50,000 unit production volume certainly won't kill the Model 3 singlehandedly, but the auto and the surrounding strategy do show something that Tesla should be extremely scared of: established automakers starting to adopt the attributes that have made Tesla so unique. Although the Polestar 2 will be sold through franchised dealers, the automaker isn't planning elaborate showrooms stocked with dozens of cars.

The initial launch markets will be Belgium, Canada, China, Germany, the Netherlands, Norway, Sweden, the United Kingdom, and the US.

Now, Polestar is a brand of its own, one that will specialize in electrified performance vehicles.

Two electric motors will give the Polestar 2 300kWN (408hp) and 660Nm (487lb-ft). It's not clear yet if cheaper variants will receive a detuned version.

Volvo, which owns half of Polestar with the rest held by its Chinese parent Geely, said earlier this year it was talking to investors about raising funds to support Polestar's electrification costs.

Polestar shows the Polestar 2 electric car in Spain. Volvo’s electric performance brand Polestar is unveiling a battery-powered compact car which to be shown at next month’s Geneva auto show becomes available

"The buzz around the Tesla Model 3 showed where electric mobility is relevant for society today", said Polestar CEO Thomas Ingenlath at a launch event Wednesday. That said, it will be going up against a rapidly growing mix of competitors including not only the Tesla Model 3 but the Chevrolet Bolt EV, the Hyundai Kona EV and others.

Polestar was one Volvo's in-house tuning and performance devision. Unsurprisingly named "Polestar 2", it's a five-door hatchback built on the "Compact Modular Architecture" (CMA) platform.

Volvo's premium brand Polestar has released the all-electric Polestar 2 with a substantial range, an impressive design and a first of its kind Android pie-based infotainment system. It will later embark on a global roadshow in Europe, North America and China throughout 2019. Instead, this embedded design has all the trappings that you would expect from an operating system running Android, including Google Maps, full Google Assistant integration, and access to Google Music without first needing to connect to your smartphone.

Interior of the Polestar 2. Instead, Polestar will likely launch first on the West Coast and the cars will be displayed in Tesla-like stores located in cities.

The vehicle, to be shown at next month's Geneva auto show, becomes available in 2020.

All Polestar products are expected to be fun to drive, but Polestar says it will offer performance add-ons to the 2.

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