New Polestar models will be launched by 2024
Neither one, nor two, but three new Polestar Models will be brought by the Swedish company by 2024. Although a new and independent company, Polestar tends to present its goals in terms of electrification and sustainability but not to analyze its plans regarding the timelines of its future models.
But as he announced that he intends to enter the New York Stock Exchange as “Polestar Automotive Holding UK Limited” with a valuation of close to $20 billion, its head shed some light on what we can expect from the Swedish company in the coming years. First of all, there is the Polestar 3 which is about the same size as the Porsche Cayenne, goes through the prototype phase and passes the impact tests.
Read more: Polestar 2 EV becomes more affordable
“The Polestar 4, our second SUV, left the design studio a long time ago.” added Polestar’s big boss, Thomas Ingenlath, and as he says, this will take the form of a crossover-coupe with dimensions similar to those of the Porsche Macan while the third model in a row, which will come by 2024, is the gorgeous Precept.
Polestar delivered around 10,000 cars in 2020 and the goal for ’21 is to get close to 29,000 cars but once it builds the range it wants, it predicts that deliveries will soar to 290,000 cars by 2025!
Currently, the company is active in 14 markets with a target of becoming 30 by 2023, and Ingenlath said it will not need an additional factory to reach its 2025 sales volume target.
In short, Polestar may be new as an independent company but it has a clear and realistic plan and that’s how the valuation of $20 billion comes about. One could say that it is conservative, since other pure electric brands with a limited range of products are valued higher (cf. Lucid Motors at $40.7 billion, Nio at $58 billion, XPeng at $30.2 billion and Li Auto at $27.4 billion).