Thomas Ingenlath, Chief Executive Officer of Polestar said; "Polestar 1 is the first vehicle to carry the Polestar on the bonnet".
The next Polestar model, the mid-size Polestar 2, is meant to compete with Tesla's Model 3, the company says.
Polestar, the performance company used by Volvo to soup up its cars, has announced it is splitting off as a standalone performance electric vehicle brand.
Monthly payments will cover servicing, as well as the ability to rent other Polestar and Volvo models.
While the new auto is based on Volvo's Scalable Platform Architecture, the manufacturer claims that around 50 percent of the structure is new. The Polestar engineers have tinkered with about 50 percent of it, making it 0.65 meters (25.6 inches) shorter in the process. Thanks to the carbon fiber and the dual powertrain setup, the Polestar 1 is said to offer a decidedly performance-oriented 48/52 front/rear weight balance, though its exact weight, like its engine specs, remains under wraps. At the back, it utilizes an electric axle with torque vectoring capabilities for more precise handling and improved power delivery to the road. A new factory is being constructed in Chengdu, and is due to open in mid-2018 in time to start pre-production of the first Polestar 1 vehicles. The new model is expected to deliver about 150 km, or 95 miles, per charge.
Polestar has been releasing teasers aka puzzle pieces of its new model leading up to its debut this week. 600 horsepower and 1,000 Nm (737 lb-ft) of torque, to be more exact, squeeze out of a modified version of the T8 configuration.
Established as a motorsport arm of Volvo in 1996, and bought by Volvo Cars July 2015, Polestar will now build and sell cars under its own name.
The Tesla 3 has a starting price of around $35,000 ($26,400). One-upping Porsche's new Passport scheme seem already, Polestar says it is looking to remove what it calls "the inconvenience of ownership". Presumably, this will be something larger than a Volvo XC60 but smaller than an XC90. Both will be battery electric vehicles (BEVs).
China is the world's biggest market for electrics and hybrids. The country recently announced rules that would require BEVs and PHEVs to account for at least 20% of total sales by 2025.
The second vehicle is created to go head-to-head with the Tesla Model 3, said Polestar CEO Thomas Ingenlath, laying down the gauntlet to the California-based pioneer of premium EVs.
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