The forthcoming Polestar 3, although yet to commence production, is already slated to undergo a significant price reduction of nearly $10,000, courtesy of its parent company Geely.
Typically, automakers exercise caution when forecasting prices for their latest models due to potential fluctuations in supply chains and escalating labor and material costs. However, in this instance, the Polestar 3 bucks the trend by offering a considerable discount from its initial pricing.
Initially revealed in 2022, the Polestar 3 was introduced with a base price of $83,900. However, the latest pricing adjustment sees the base model now priced at $74,800, inclusive of a $1,400 destination charge. This substantial reduction, as reported by the Verge, positions the Polestar 3 as a more accessible option in the luxury vehicle segment:
“Polestar, formerly a subsidiary of Volvo but now under the umbrella of Volvo’s parent company Geely, initially announced the Polestar 3 in October 2022, with a starting price of $83,900, placing it squarely within the luxury vehicle segment.”
“However, Polestar has since revised the starting price for the Polestar 3 Long Range with all-wheel drive to $73,400, with an additional $1,400 destination charge, bringing the total to $74,800 – a significant deviation from the initial $84,000 estimate.”
The Polestar 3, scheduled for production in the second quarter of 2024, represents the automaker’s foray into the SUV market. Production will commence in Chengdu, China, before transitioning to a U.S. facility in Charleston, South Carolina.
Notably, the Polestar 3 shares similarities with the Volvo EX90, a connection that has been emphasized by the inclusion of the Pilot pack as standard equipment across all models of the SUV lineup.
“The Pilot pack, featuring advanced driver-assistance features such as adaptive cruise control, lane-keep assist, automated lane changes, and heads-up display, now comes as standard equipment on all Polestar 3 models. Previously offered as an optional add-on, the inclusion of the Pilot pack adds significant value to the Polestar 3 lineup.”
Despite the generous price reduction, the Polestar 3 remains a premium offering in the EV market, with fully loaded models equipped with additional packages reaching $85,400.
Nonetheless, the adjusted pricing aligns the Polestar 3 with its original base model, making it a more enticing prospect for prospective buyers, who can expect deliveries to commence in the summer.
However, it’s worth noting that without leasing, the Polestar 3 is ineligible for the $7,500 EV tax credit in the U.S., further influencing its appeal in the competitive automotive landscape.
Also read: 2025 Polestar 3: Pricing And Performance Revealed