GOTHENBURG, Sweden, Sept. 28,
2022 /PRNewswire/ -- Polestar (Nasdaq: PSNY) will
premiere its first SUV, Polestar 3, at a launch event on
12 October 2022 in Copenhagen, Denmark.
Polestar 3 is a powerful, design-led electric performance
SUV that appeals to the senses with a distinct shape and excellent
driving dynamics. Built on a new all-electric technology base
developed by and shared with Volvo Cars, it features the latest in
high-tech components – like centralised core computing from NVIDIA
and a long list of advanced safety systems from Volvo Cars and
leading industry suppliers including Zenseact, Luminar and Smart
Eye.
"We had to ask ourselves: 'what should a modern SUV look like?'
Polestar 3 defines the SUV for the electric age and in designing
it, we addressed some of the fundamentals of the archetype:
proportions, stance and aerodynamics," says Thomas Ingenlath,
Polestar CEO.
Performance is key for Polestar, going deeper than just
straight-line acceleration. At launch, all versions feature a
rear-biased dual motor powertrain with electric torque vectoring
via a dual clutch system on the rear electric motor. This is met by
adaptive dual-chamber air suspension and active dampers as
standard, which allows Polestar 3 to switch between comfort and
firm suspension dynamics, and adjust the dampers to suit road
conditions once every two milliseconds (500 Hz).
Thomas Ingenlath continues: "It's this instant ability to
transform from a comfortable cruiser to a sharp, agile performance
car in less than the blink of an eye that makes Polestar 3 special
as an electric performance SUV. It also benefits from a low centre
of gravity and wide track for ultimate stability, and an exciting
feeling behind the wheel."
The optional Performance Pack enables maximum output of 380 kW
and 910 Nm, along with Polestar Engineered chassis tuning for the
active dampers and air suspension. Polestar's signature Swedish
gold details are also added, including valve caps, seat belts and a
laser-etched interior light strip.
Featuring Polestar CEO, Thomas
Ingenlath, and Polestar's Head of Design, Maximilian
Missoni, the launch event will commence at 19:00 CEST on 12 October. A live broadcast will
be available at https://youtu.be/oga1XJAX8ms.
About Polestar
Polestar Automotive Holding UK PLC (Nasdaq:
PSNY) ("Polestar") is a Swedish
premium electric vehicle manufacturer. Founded by Volvo
Car AB (publ.) (together with its subsidiaries,
"Volvo Cars") and Zhejiang Geely Holding Group Co., Ltd
("Geely"), in 2017, Polestar enjoys
specific technological and engineering synergies with Volvo Cars
and benefits from significant economies of scale as a
result.
Polestar is headquartered in Gothenburg, Sweden, and its vehicles
are currently available and on the road in
markets across Europe,
North America,
China and Asia
Pacific. By 2023, the company plans that its cars
will be available in an aggregate of 30
markets. Polestar cars are currently manufactured in
two facilities in China, with
additional future manufacturing planned in the USA.
Polestar has produced two
electric performance cars. The Polestar 1 was built between
2019 and 2021 as a low-volume electric performance
hybrid GT with a carbon fibre body, 609 hp, 1,000 Nm and an
electric-only range of 124 km (WLTP) – the longest of any hybrid
car in the world at the time.
The Polestar 2 electric performance fastback is the company's
first fully electric, high volume car. The Polestar 2 model range
includes three variants with a combination of long- and standard
range batteries as large as 78 kWh, and dual- and
single-motor powertrains with as much as
350 kW / 476 hp and
680 Nm.
From 2022, Polestar plans to launch one new electric
vehicle per year, starting with Polestar 3 – the company's first
electric performance SUV which is expected to debut in
October 2022. Polestar 4 is
expected to follow in 2023, a smaller electric performance SUV
coupe.
In 2024, the Polestar 5 electric performance 4-door GT is
planned to be launched as the production evolution of Polestar
Precept – the manifesto concept car Polestar released in 2020 that
showcases the brand's future vision in terms of design, technology,
and sustainability. As the company seeks to reduce its climate
impact with every new model, Polestar aims to produce
a truly climate-neutral car by 2030.
In March 2022, Polestar
revealed its second concept car, an electric performance roadster
which builds on the design, technology and
sustainability ambitions laid out by Precept and showcases the
brand's vision for future sports cars. The hard-top convertible
presents an evolution of the unique design language first shown by
Precept and emphasises a dynamic driving experience. The concept
further develops the focus on sustainability and technology, aiming
towards greater circularity. Polestar confirmed in August 2022 that a version of the concept will be
produced as the Polestar 6 electric performance roadster, with
launch expected in 2026.
Forward-Looking
Statements
Certain statements in this press release ("Press Release")
may be considered "forward-looking statements" as defined in the
Private Securities Litigation Reform Act of 1995. Forward-looking
statements generally relate to future events or the future
financial or operating performance of Polestar. For example,
projections of revenue, volumes and other financial or operating
metrics are forward-looking statements. In some cases, you can
identify forward-looking statements by terminology such as "may",
"should", "expect", "intend", "will", "estimate", "anticipate",
"believe", "predict", "potential", "forecast", "plan", "seek",
"future", "propose" or "continue", or the negatives of these terms
or variations of them or similar terminology. Such forward-looking
statements are subject to risks, uncertainties, and other factors
which could cause actual results to differ materially from those
expressed or implied by such forward looking statements.
These forward-looking statements are based upon estimates and
assumptions that, while considered reasonable by Polestar and its
management, as the case may be, are inherently uncertain. Factors
that may cause actual results to differ materially from current
expectations include, but are not limited to: (1) Polestar's
ability to maintain agreements or partnerships with its strategic
partners Volvo Cars and Geely and to develop new agreements or
partnerships; (2) Polestar's ability to maintain relationships with
its existing suppliers, and source new suppliers for its critical
components, and to complete building out its supply chain, while
effectively managing the risks due to such relationships; (3)
Polestar's reliance on its partnerships with vehicle charging
networks to provide charging solutions for its vehicles and its
strategic partners for servicing its vehicles and their integrated
software; (4) Polestar's reliance on its partners to manufacture
vehicles at a high volume, some of which have limited experience in
producing electric vehicles, and on the allocation of sufficient
production capacity to Polestar by its partners in order for
Polestar to be able to increase its vehicle production capacities;
(5) competition, the ability of Polestar to grow and manage growth
profitably, maintain relationships with customers and suppliers and
retain its management and key employees; (6) Polestar's estimates
of expenses and profitability; (7) increases in costs, disruption
of supply or shortage of materials, in particular for lithium-ion
cells or semiconductors; (8) the possibility that Polestar may be
adversely affected by other economic, business, and/or competitive
factors; (9) the effects of competition and the high barriers to
entry in the automotive industry, and the pace and depth of
electric vehicle adoption generally on Polestar's future business;
(10) changes in regulatory requirements, governmental incentives
and fuel and energy prices; (11) the outcome of any legal
proceedings that may be instituted against Polestar or others; (12)
the ability to meet stock exchange listing standards; (13) risks
associated with changes in applicable laws or regulations and with
Polestar's international operations; (14) Polestar's ability to
establish its brand and capture additional market share, and the
risks associated with negative press or reputational harm,
including from lithium-ion battery cells catching fire or venting
smoke; (15) delays in the design, manufacture, launch and financing
of Polestar's vehicles and Polestar's reliance on a limited number
of vehicle models to generate revenues; (16) Polestar's ability to
continuously and rapidly innovate, develop and market new products;
(17) risks related to future market adoption of Polestar's
offerings; (18) risks related to Polestar's distribution model;
(19) the impact of the global COVID-19 pandemic, inflation,
interest rate changes, the ongoing conflict between Ukraine and Russia, supply chain disruptions and
logistical constraints on Polestar, Polestar's projected results of
operations, financial performance or other financial and
operational metrics, or on any of the foregoing risks; and (20)
other risks and uncertainties set forth in the section entitled
"Risk Factors" and "Cautionary Note Regarding Forward-Looking
Statements" in Polestar's Form 20-F, and other documents filed, or
to be filed, with the SEC by Polestar. There may be additional
risks that Polestar presently does not know or that Polestar
currently believes are immaterial that could also cause actual
results to differ from those contained in the forward-looking
statements.
Nothing in this Press Release should be regarded as a
representation by any person that the forward-looking statements
set forth herein will be achieved or that any of the contemplated
results of such forward-looking statements will be achieved. You
should not place undue reliance on forward-looking statements,
which speak only as of the date they are made. Polestar assumes no
obligation to update these forward-looking statements, even
if new information becomes available in the future.
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SOURCE Polestar