Polestar, under the leadership of CEO Thomas Ingenlath, is setting its sights on carving a distinctive path in the competitive electric vehicle (EV) market, diverging from the trajectory taken by Tesla. Ingenlath, in an interview with Autonews Europe, emphasized the company's commitment to maintaining a premium position and a focus on quality over price competitiveness.
Ingenlath stated, “We have very clearly stated we will not get into a price war to achieve volume targets because we want to maintain our premium position. We are definitely not running after Tesla, which wants to have X factories and volumes in the millions.”
Polestar's strategy revolves around prioritizing high-quality products rather than undercutting competitors on price. Ingenlath stated, “We want the Polestar 3, 4, and 5 to firmly secure our place in the premium luxury segment rather than producing smaller, cheaper cars.”
To illustrate this commitment, Ingenlath highlighted the recent update to the Polestar 2, explaining, “We made it better and a bit more expensive. We could have done the exact opposite, taking value out by giving it a cheaper battery, a cheaper electric drivetrain, and using cheaper materials and kept the same price. Or we could have followed Tesla and only offer one screen and save big bucks because that monitor in front of the driver is expensive. But we didn't.”
Ingenlath believes that this approach showcases Polestar's dedication to design, technology, and product quality, which he expects will resonate with customers and drive future sales.
While the success of this strategy remains to be seen, Polestar is gearing up for an event later this year dubbed “Polestar Day.” During this event, the company will unveil recent innovations, highlight partnerships, and provide insights into its future plans, including expansion in the United States and abroad. Details about these developments will be disclosed at the upcoming event, generating anticipation within the EV industry.