Polestar chose the Auto China 2018 car show in Beijing to release the pricing for their all-new hybrid high-performance sports coupe. The Polestar 1 will cost 1.45 million RMB in China, 155,000 euros in Europe and $155 000 in the United States, giving customers a clear understanding of where the Polestar 1 sits in the marketplace. Availability and pricing for the Canadian marketplace has not been announced yet.

“After our public introduction at the Geneva Motor Show in March, we are excited to be back in China – one of the key markets for the Polestar brand,” said Thomas Ingenlath, Chief Executive Officer at Polestar. “It feels great to bring the Polestar brand and the Polestar 1 closer to the public here in Beijing. We have seen a strong initial response from our first customers. This gives us confidence that our brand has a bright future. In 2019 already we will launch our next car, the Polestar 2 – a mid-sized fully-electric car which is well developed in its engineering phase. We will follow that up with the Polestar 3, a stunning electric SUV with a beautiful aerodynamic silhouette that is already advanced in its design phase.”

In March, pre-orders for the Polestar 1 were opened to over 7,000 people in 18 countries who had expressed interest in owning the car, enabling them to pay a deposit and secure their place in line. The low-volume Performance Hybrid GT coupe will have 600 hp and 737 lb-ft of torque. It will have an electric-only range of 150 km, the longest of any hybrid car in the world. The gasoline powered engine will drive the front wheels and the double electric rear axle drive system powers the rear wheels. The Polestar 1 is an electric car with the benefits of an internal combustion engine to supplement the electric drive over long distances when required.

Another key development in Polestar’s global growth was the appointment of August Wu as the new President of Polestar China in March.

“I am delighted to be part of this exciting electrification journey with Polestar as we become an important force in the automotive industry’s evolution in China,” said Wu. “We recognise the Chinese market’s potential for electric vehicles, and Polestar has the strength to take advantage of these opportunities. We are committed to China, where we already have a significant footprint, and we are excited to be a brand that can raise the awareness and appeal of electric performance vehicles. Polestar engagement will be digital and our cars will be offered primarily on a subscription basis. With one monthly payment covering all of the traditional costs associated with car ownership, we enable the customer to focus on the enjoyment of driving. We believe that this will help Polestar form a new relationship between ourselves and our customers.”

Test drivers and engineers recently spent two weeks north of the Arctic Circle for an extreme cold weather shakedown of the first running Polestar 1 prototype. Temperatures were as low as -28 degrees Celsius (-18 °F).

“Our test drivers have given us some enthusiastic feedback on the handling and dynamics especially,” said Ingenlath. “Besides being very happy with the balance of the chassis, they are particularly excited about the torque vectoring. We are now very confident about how this enhances the Polestar 1’s cornering responsiveness and accuracy. This is a driver’s car. We have now passed a major milestone in the development of the Polestar 1, and prototype testing continues throughout 2018. Now we look forward to introducing the car to the Chinese public for the first time, a key market for Polestar,” concludes Thomas Ingenlath.”

Polestar is the new electric performance brand from the Volvo Car Group. Polestar will have access to specific technological and engineering synergies with Volvo Cars and benefit from significant economies of scale as a result of its connection to Volvo. These synergies enable the design, development and production of separately-branded, high performance electric cars. Polestar currently offers the S60 and V60 Polestar which have 367 hp and more than 250 developments over-and-above the standard Volvo cars.