Polestar (PSNY) to reveal new EV at Shanghai auto show

Polestar Automotive (NASDAQ: PSNY) announced Tuesday that the company will reveal its next car, the Polestar 4, at the Shanghai auto show on April 18, 2023.

The Polestar 4 will be the first production EV to contain design cues and sustainability enhancements previously featured on previous Polestar concepts.

Design cues and sustainability enhancements initially showcased in Polestar’s concept cars will make their production debut in Polestar 4.

The company wrote in their press release, “Polestar has taken the SUV coupé and transformed it for the electric age.”

The electric SUV coupé will also be the fastest Polestar production car to date.

“Polestar 4 is not simply a modified version of our first SUV. Instead, we reconsidered the entire design to create a new breed of SUV coupé,” says Thomas Ingenlath, Polestar CEO.

The Polestar 4 is slightly smaller than the Polestar 3 and a bit higher from the ground than the Polestar 2. It’s also expected to have a battery life of about 373 miles and offer four-wheel and rear-wheel drive, according to Autocar.

The showcase news comes before the Polestar 3 has even hit the roads. The 3 should be available in the last quarter of 2023, with preorders ongoing, and the Polestar 5 is set for release sometime in 2024.

There’s no word yet on the Polestar 4's cost or availability, but with the Polestar 2 starting at $45,900 and the Polestar 3 at $85,300, it's not likely to be cheap.

Shares of PSNY are up 3.19% in mid-day trading on Tuesday.

By Michael Elkins | [email protected]

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