Polestar has finally launched its Polestar 3 electric SUV in North America, after its debut in Europe and China. The company also announced its expansion plans for the US market. The Polestar 3 will be manufactured in South Carolina and should qualify for at least a partial EV tax credit. However, the battery’s origin is yet to be confirmed, which will be vital for the latest EV tax credit rules.
If Polestar assembles the battery in the US and sources the components from the US, the car will be eligible for the full $7,500 subsidy. The Polestar 3 is the first vehicle on the US market to feature the latest LiDAR sensor from Luminar, along with the Dolby ATMOS and a 25-speaker Bowers & Wilkins sound system, which will be standard. It comes with the latest edition of Google Automotive and is fully prepared for autonomous driving.
The Polestar 3 comes with a 111 kWh battery pack, providing electricity for either a 360 kW long-range version or a 380kW Performance trim. While EPA ratings are not yet available, the Performance version received a WLTP rating of 560km, and the Long Range version got a rating of 610km.
The US pricing was announced last year, with the Polestar 3 Long Range starting at $83,900 and the Performance model starting at $89,900. However, the outcome of the EV tax credit qualification remains to be seen. If Polestar manages to get the full amount, it would make its SUV very competitive.
In case the SUV does not qualify for the subsidy due to its battery origin, the company already has another option on offer. It announced that the Polestar 2 already qualifies for the full $7,500 discount, thanks to the new finance deal offered by a US financial institution. Under the IRA Clean Vehicle regulations, any electric car, regardless of its origin, qualifies for the subsidy as long as it’s financed by a US bank. This means that customers can still get the full discount on their EV purchases.
Polestar has already established 28 Polestar showrooms in the US and plans to have a total of 40 Polestar Spaces open by the end of this year, catering to over 77% of what the company calls the “addressable EV market.” With its innovative features and competitive pricing, the Polestar 3 is set to make a significant impact on the US electric car market.
