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Polestar, the Swedish electric performance car company, announced that the world premiere of its next car, the Polestar 3 electric performance SUV, will be in October 2022. Polestar 3 is the company’s first SUV.
The launch of the car marks Polestar’s entrance into one of the highest margin and growth segments in the automotive industry, particularly in the United States.
Polestar 3 will, over time, offer autonomous highway piloting powered by the LiDAR sensor from Luminar and centralized NVIDIA computing power. At launch, Polestar 3 will feature a dual-motor drivetrain and a large battery, with a range target of more than 600 km (WLTP).
Customers can expect to order Polestar 3 in initial launch markets from the day of the premiere. Production is expected to begin in early 2023; Polestar 3 will be manufactured in the United States and China.
Polestar plans to launch a new car every year for the next three years, starting with Polestar 3, and aims to increase its presence to at least 30 global markets by the end of 2023. This supports Polestar’s plans to grow ten-fold from global sales of approximately 29,000 in 2021 to approximately 290,000 by the end of 2025.
Polestar intends to list on the Nasdaq in a proposed business combination with Gores Guggenheim, Inc. (Nasdaq: GGPI, GGPIW, and GGPIU), which is expected to close in the first half of 2022.
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