Source: Gasgoo Author: Xing Yun
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According to foreign media reports, Swedish electric car manufacturer Polestar lowered the starting price of its Polestar 3 by more than 12% on March 13. In addition, the company also launched two new versions to cope with sluggish market demand.
Currently, weak demand in the global electric vehicle market has led to a series of layoffs and missed production targets, forcing many electric vehicle manufacturers to cut prices in order to revive demand.
Polestar announced that it has lowered the starting price of the Polestar 3 model from the original US$83,900 to US$73,400. In addition, the company has also added two new versions, bringing the number of versions of this model to four. Polestar says all versions of the Polestar 3 will come standard with the company’s Pilot Pack driving assistance system.
Image source: Polestar
The Pilot Pack includes driver assistance features such as adaptive cruise control, lane keeping assist, automatic lane changing and a head-up display. Most automakers charge extra for these features.
Polestar expects to start delivering the Polestar 3 in the second quarter of 2024. In October 2022, the company released the electric car, and the plan was to start delivering the new car in the fourth quarter of 2023.
Polestar has been grappling with weak demand for its vehicles as pricier models struggle to generate enough demand, announcing in January that its 2023 delivery numbers would fall short of targets.
Geely’s factory in Chengdu, China, will start producing the Polestar 3 in the second quarter of this year. In the third quarter, Polestar will start producing the Polestar 3 at its plant in South Carolina, USA. In the US market, this electric SUV is eligible for the $7,500 federal electric vehicle tax credit only through leasing.
