"All future cars from Polestar will feature a fully electric drivetrain, delivering on our brand vision of being the new standalone electric performance brand". Production on that vehicle is expected to begin in 2019, and Volvo sees it serving as a direct competitor to Tesla's Model 3.
In Shanghai the firm introduced its first vehicle Polestar 1, which will go on sale in 2019 and production will be limited to 500 units a year. The 2.0-liter four-cylinder engine kicks in to power the front wheels when the driver needs more mileage or wants to crank things up to full performance. For its part, Polestar will serve as a technology spearhead, pushing new technologies to market, technologies that could eventually find their way into Volvo's higher-volume lineup.More news: Ford recalls 1.3M F-Series pickups, including 2017 Super Duty
"In electric high-performance cars there are a lot of companies now in this start-up arena, so we will have company", he said in Shanghai.
The Polestar 1 will be built in a new production facility in Chengdu, China.More news: Stock to Keep Your Eyes on: Time Warner Inc. (TWX)
"The Polestar 1 is a performance electric hybrid, but with the longest pure electric range of any hybrid auto in the world, we consider it an electric vehicle with support from an internal combustion engine", Polestar CEO Thomas Ingenlath explains. It also features Ohlins continuously controlled electric suspension (CESi). Additionally, it uses a double electric rear axle that enables torque vectoring. It will be available for order exclusively online on a two or three year zero-deposit monthly subscription basis, an all inclusive package to include pick-up and delivery servicing and the option to rent other models in the Volvo and Polestar range. Volvo said it plans to launch five fully electric cars between 2019 and 2020, three under the namesake brand itself and two from Polestar. Polestar will build a network of brand-specific retail spaces for those that do want a physical vehicle browsing/buying experience. The initial phase of the Polestar product roll out will then be completed by the larger SUV-style BEV-Polestar 3.More news: Seven policemen killed in Pakistan blast
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