Volvo's Polestar To Outgrow The Teslas And The BMWs
The previous versions of Polestar, perhaps didn’t really achieve what it intended to; but things are finally starting to look up for the Swedish makers. Volvo has now, redesigned the Polestar as a high electric performance brand aimed at carving some market share away from Tesla. With Volvo disclosing that all of it cars launched after 2019 being either electric or hybrid, it is aiming for that sweet spot which Tesla has been dominating thus far.
Volvo unveiled Tuesday the Polestar 1, the first model of its new electric brand. The company also announced plans to invest more than $750 million into the brand. The Polestar 1 is a 600 horsepower two-door grand tourer coupé. It is not an all-electric vehicle, which means this particular vehicle might not become the Tesla killer that others have suggested.
Polestar CEO Thomas Ingenlath noted Tuesday that all future cars from Polestar will be fully electric. The company also announced that, its cars will be only available online and offered on a two- or three-year subscription basis. Customers won’t need to put down a deposit either. The all-inclusive subscription will include pick-up and delivery servicing and the ability to rent alternative vehicles within the Volvo and Polestar range, all incorporated into one monthly payment.