The Polestar 3 isn’t out yet, and it’s already getting a big price cut

Polestar released new pricing details for its upcoming midsize electric three-row SUV: the Polestar 3. And most notably — and perhaps a reflection of the slowdown in EV sales growth over the past few months — the Polestar 3 will start at a price that’s significantly less than the company originally predicted.

Polestar, which was backed by Volvo but is now overseen by Volvo’s Chinese parent company, Geely, first announced the 3 back in October 2022. At the time, the company said the high-tech SUV would start at $83,900, placing it squarely in the luxury segment of vehicles.

But now, Polestar says the price for a Polestar 3 Long Range with all-wheel drive will start at $73,400. With the $1,400 destination charge, that increases to $74,800 — which is still a long way off from $84,000. That version will start production during the second quarter of 2024 (hey, that’s now!), with customers able to take delivery in the summer.

In addition, Polestar said that all versions of the Polestar 3 will come standard with the automaker’s Pilot pack, which includes driver-assistance features like adaptive cruise control, lane-keep assist, automated lane changes, and a heads-up display. (Most automakers charge extra for these features.)

If customers want some extra goodies, like a 1,610-watt Bowers & Wilkins audio system with 25 speakers and a fresh air subwoofer as well as “bio-attributed” MicroTech and animal welfare wool seats, heated rear seats, and 21-inch wheels, they can opt for the $5,500 Plus pack package, for a grand total of $78,900 ($80,300 with destination).

Given its roots in performance and motorsports, the company also has a Performance pack version of the Polestar 3, which retails for $79,400 ($80,800 with destination). This includes Polestar’s engineering chassis tuning, 22-inch Performance forged wheels, a software performance upgrade that boosts output to 517 horsepower and 671 pound-feet of torque, a zero to 60mph sprint of 4.6 seconds, and “Swedish gold” accents on the seat belts. 

If you’re a completist, a Polestar 3 with all three packages (Pilot, Plus, and Performance) will sell for $84,00 ($85,400 with destination) — just a little more than the original base price from 2022.

The Polestar 3 will be initially produced at Geely’s factory in Chengdu, China, starting in Q2. The company will start production at its facility in South Carolina in the middle of the year. The electric SUV will only be eligible for the $7,500 federal EV tax credit when leased. Broadly, EV prices have been coming down across the board, spurred by market leader Tesla’s big price cuts.