Volvo Cars' luxury performance brand Polestar unveiled online its first ful...
STOCKHOLM - Volvo Cars’ luxury performance brand Polestar unveiled online its first fully electric sedan on Wednesday, with a price and driving range to rival Tesla’s mass market Model 3.
The Model 3 and Polestar 2 are cheaper than most of the electric models launched by traditional premium carmakers so far, as Tesla and Polestar bet mass market customers are on the verge of adopting battery technology. Both have also promised even lower prices later on. Polestar CEO Thomas Ingenlath told Reuters he hoped to sell “north of” 50,000 Polestar 2s in the 2-3 years after deliveries start from the first half of 2020, but said how much production capacity the company sets up would depend on market conditions.
Securing the electric market has become increasingly important as demand for traditional combustion engine vehicles slows in China and Europe, partly due to tariffs stemming from Washington’s trade war with Beijing.
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