Polestar is a relatively new name in the world of automotive. The brand was founded in 1996. However, its acquisition by Volvo in 2015 was a watershed moment in the company’s history.
Since then, the company has been offering its EVs and PHEVs to global customers.
So what exactly is Polestar planning for the next three years? Let’s get an insight:
Aiming For Porsche
Since Polestar’s roots are located deep down in the racing segment, the company remains devoted to the field.
This is why automaker while establishing its three-year plan made it clear that the company is aiming at Porsche.
This means that automaker is looking forward to developing high-end performance vehicles that can give the German brand a tough time.
However, easier said than done because Porsche’s products have a rich pedigree whereas Polestar is a completely new name.
Volvo, A Big Problem For Polestar
The biggest problem for Polestar is not from any competitor but its own parent company Volvo.
The reason is that Volvo itself is aiming to go all-electric by 2030. This will make it even more difficult for Polestar to survive in the EV market.
Thus the company’s three-year plan also focuses on how to differentiate its products from Volvo.
Race Towards Profitability
While Polestar’s vehicles are being sold for the past several years, the company is yet to hit breakeven. Experts believe that Polestar will reach this milestone by 2023.
Further to that, it is anticipated that the company will generate its first-ever profits by 2025.
New Chassis & Motor
A senior Polestar executive claimed that automaker is in the process of developing a cutting edge aluminum space frame chassis. The light architecture of this modern chassis will considerably pull down the weight of future vehicles.
Furthermore, automaker is also developing a new motor which is likely to deliver up to 50% more power than the Porsche Taycan. The P10 motor is capable of delivering up to 450 kW.
The revolutionary part is that it will feature a two-speed transmission.
New Battery Technology
In its three year plan, Polestar is also aiming to develop a new battery technology that can be charged up to 80% in just 20 minutes. This will be achievable thanks to a charging capacity of up to 103 kW.
The technology will completely transform how the EV sector operates.
Upcoming Models
Polestar 5
Polestar is expected to launch the Polestar 5 by the year 2024. This modern sleek GT will be a fully electric vehicle.
The Polestar 5 is likely to make use of the company’s latest battery technology as well as the P10 motor and aluminum space frame chassis.
All of these cutting-edge technologies will aid in pushing the Polestar 5 to new heights of innovation.
Polestar 3
Polestar 3 is another upcoming vehicle by the brand. This vehicle will be offered as a competitor to Porsche Cayenne.
The Polestar 3 is expected to be launched in 2022.
Polestar 4
Polestar 4 is expected to hit the market in 2023. It is expected to have a starting price of €55,000 (£46,654).
Sales Figures In Europe
During the current fiscal year, the company anticipates selling 29,000 units. However, according to its plans, the number will likely rise to 290,000 by 2025.
40% of these vehicles are expected to be sold in the European market alone. This means that during the next 4 years, automaker is looking forward to reaching sales figures of around 116,000 units in Europe alone.
Help From Blockchain
Polestar also has the honor of being the world’s first automaker that is taking assistance from blockchain to trace the sources of battery ingredients.
For this purpose, the company has recently formed a partnership with Circulor, a blockchain provider.
So, which ingredients does the company wants to trace? Well, for now, it is looking forward to tracing ingredients that pose a threat to human rights and the environment. The list includes:
– Nickel;
– Mica;
– Manganese;
– Graphite.
Final Verdict
Polestar has big aims and the company is determined to become profitable soon.
This is also a ray of hope for EV enthusiasts, as it will give them access to more high-end vehicles.
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