Polestar 7 will be a luxury compact electric SUV
What's the story
Swedish automaker Polestar has officially announced its plans to launch a new model, the Polestar 7. The upcoming vehicle is set to be a "premium compact SUV," and will be manufactured in Europe. Though the exact release date remains undisclosed, the announcement marks an exciting addition to Polestar's growing lineup of electric vehicles (EVs).
Market positioning
Polestar 7 to compete in fiercely competitive segment
The Polestar 7 will take on premium compact SUVs like the Porsche Macan. This means the new model will be a stylish, compact, and slightly elevated vehicle joining an extremely competitive segment. While we don't have specific technical details of the upcoming Polestar 7, we are expecting a lot from this new player in the EV game.
Design expectations
Polestar 7: What to expect
Philipp Romers, the new design chief at Polestar, has promised that the Polestar 7 will live up to all customer expectations in terms of design and performance. The company's newly appointed CEO Michael Lohscheller also called it a "very progressive SUV" with a unique selling point (USP). All this indicates that the upcoming model will not just be good-looking but also offer great performance.
Business strategy
Polestar's future strategy and market expansion plans
The Polestar 7's introduction is part of a wider business strategy, including higher deliveries of the Polestar 3 and rear-windowless Polestar 4. The company also plans to double its retail spaces from 70 to 130 worldwide, and from 36 to 57 in Europe and the US respectively. This expansion comes as they launch 'Polestar Energy,' a home charging initiative in Europe.
Architectural shift
Polestar's transition to a single architecture for future cars
After the Polestar 7, the company intends to "gradually move from a multi-platform approach to one single architecture" for all future cars. This transition is likely to simplify things and cut costs. Although Volvo had announced last year that it would stop funding Polestar, parent company Geely has promised its continued support for the brand.