Polestar reveals a three-year business plan: aiming at Porsche, staying away from Volvo, and achieving profitability in 2025

Reporter | Li Wenbo

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Recently, Polestar, a Nordic high-performance electric vehicle brand based in Gothenburg, Sweden, disclosed a three-year plan that involves new power, customized product architecture and greater differences from Volvo.

The electric car manufacturer is not secretive, and Porsche is on its own radar as it seeks to improve its reputation for high performance. While emphasizing the joy of driving, Polestar also hopes to achieve financial balance in 2023 and achieve its first profitability in 2025.

Engineering is an important part of these goals. Sources close to Polestar confirmed that the automaker is developing a new aluminum-frame chassis that will not be shared with Volvo. This lightweight architecture will enable L3-level driver assistance, allowing for completely off-the-road driving under certain conditions, thanks to lidar from Luminar.

Polestar is also working on an internal motor code-named P10, which can produce 450 kilowatts of power, about 50% more than the most powerful motor Porsche has ever built. Like the Porsche Taycan, the motor will also feature a two-speed transmission, and its compact (36 x 50 x 64 cm) dimensions will allow it to easily fit into any size of car.

At the same time as the independent research and development, Polestar will also draw nutrients from the Geely Group. For example, batteries compatible with 400 volt and 800 volt infrastructure. Polestar claims that the battery can rush to 80% of the charge in about 20 minutes. The new power architecture will enable two-way charging, allowing cars to power homes in the event of grid failures or bad weather.

While Polestar did not disclose when the new battery will arrive, polestar's new platform and P10 motor are expected to appear on the upcoming Polestar 5. Polestar wants the Polestar 5 to rival the Porsche Taycan in terms of performance, design and innovation.

Until the arrival of Polestar 5, Polestar will continue to leverage the parent company structure. That doesn't mean it will rest in Volvo's book of historical glory, though. Polestar will launch a Polestar 3 based on an XC90 SPA chassis, but it is said to be more performance-oriented. The automaker specifically noted that the Porsche Cayenne was a direct rival to the Polestar 3.

The Polestar 3, which will launch in 2022, looks sportier and more aggressive than the XC90. This means we can expect more attractive power levels than the Volvo XC40 RECHARGE offers at 300 kW and 659 Nm.

Subsequently, Polestar will launch the Porsche Macan-sized Polestar 4 in 2023. The automaker's silence on the details of the Polestar 4 confirms that Polestar is not ready to reveal specifications or architectural details. One speculation is that Polestar 4 may use parent company Geely's SEA architecture, which should be slightly more powerful than XC40 RECHARGE.

Polarstar also said that in addition to greater market penetration, it will also improve its financial position. The automaker will break even in 2023 and turn profitable in 2025 thanks to a commercial deal with Gores Guggenheim Inc. that will see Polestar listed on the NASDAQ thanks to a commercial deal with Gores Guggenheim Inc. Details of the partnership will be finalized sometime in the first half of 2022, and Polestar is expected to trade with PSNY as the symbol. When all this happens, Polestar's market valuation will reach $20 billion.

With rich technology accumulation and healthy capital, Polestar is eager to make a difference in the field of high-end electric vehicles. We love the gorgeous Polestar 1 and the practical Polestar 2, but we prefer polestar to make a better electric car than the Porsche Taycan.