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

Polestar has released new pricing details for its upcoming mid-size electric three-row SUV: the Polestar 3. More specifically – and a reflection of the slowdown in EV sales growth over the past few months – the Polestar 3 will start at a significant price. Less than the company originally predicted.

Backed by Volvo and now overseen by Volvo's Chinese parent company Geely, Polestar first announced the 3 in October 2022. At the time, the company said the high-tech SUV would start at $83,900. Luxury segment of vehicles.

But now, Polestar says the Polestar 3 Long Range with all-wheel drive will start at $73,400. With a target fee of $1,400, that increases to $74,800 – which is still a far cry from $84,000. That version will begin production in the second quarter of 2024 (hey, that's now!), and customers should be able to take delivery in the summer.

Additionally, all versions of the Polestar 3 come standard with the automaker's Pilot Pack, which includes driver-assistance features such as adaptive cruise control, lane-keep assist, automated lane changes and a heads-up display. (Most automakers charge extra for these features.)

If customers want a 25-speaker 1,610-watt Bowers & Wilkins audio system with a Fresh Air subwoofer and “bio-attributed” MicroTech, and some extras like animal welfare fleece seats, heated rear seats and 21-inch wheels, they can get it for a total of $78,900 (target $80,300). $5,500 plus package option.

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

If you're a completist, the Polestar 3 with all three packages (Pilot, Plus, and Performance) costs $84,00 (target $85,400) — slightly more than the original base price from 2022.

The Polestar 3 will launch in Q2 at Geely's factory in Chengdu, China. The company will begin production at its plant in South Carolina by mid-year. An electric SUV only qualifies for a $7,500 federal EV tax credit when leased. Broadly, there are EV prices It comes down across the boardFueled by big price cuts from market leader Tesla.