Polestar will launch four new models in the next three years – including an estate version of the 4 and a next-generation 2 – as part of a bold growth strategy.
The Swedish EV firm, owned by Chinese giant Geely, sold around 60,000 vehicles globally last year with its current three-model line-up, but it has posted heavy losses that have badly hit its share price.
The firm has now outlined a timeline for four new models that will arrive by the end of 2028, which it hopes can overturn that financial slump.
With this expanded line-up, former Opel-Vauxhall boss Michael Lohscheller, appointed CEO in late 2024, has targeted growing sales to around 100,000 units per year.
“Currently we capture around 25% of the EV market [segments],” said Lohscheller. “That’s actually not that much. With these new cars we’ll go to 55-65%. You can get more volume out of a bigger cake.”
The first model to arrive will be the Polestar 5 (pictured below), the electric grand tourer developed by the firm’s now-defunct UK R&D team and which is due this summer.
It will serve as Polestar’s new halo model, and Lohscheller said it “summarises everything the brand stands for”. While the 5 will serve more as a brand halo than a volume-driver, it wouldn’t be a limited-run model.
Following that will come three launches intended to help drive the growth that Polestar needs.
Polestar 4 gains estate variant
The first of these will be a new variant of the Polestar 4 – the firm’s current best-seller – that will take the form of a sleek estate body style but, as with the current 4, will stand higher due to its EV platform. It is described by Lohscheller as “combining the space of an estate and the versatility of an SUV”.
However, unlike the current coupé, the preview image confirms it will have a traditional rear window rather than using a camera – one of the coupé’s most heavily marketed features.
“The Polestar 4 is a winning model,” said Lohscheller, “but some people want a bit more function and practicality: some people have dogs. It’s all the good things from the current car, but it’s a bit more practical.”
The new estate-SUV variant, due later this year, will be named Polestar 4, with the current model rebadged the Polestar 4 Coupé. The two will be built alongside each other in Busan, South Korea, so they can be imported to the US without the prohibitive tariffs on Chinese-built cars.
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