The past couple of years have brought a surge in new car companies, nearly all focused on the electric vehicle space.
Meet Polestar, the latest newcomer to join the fray. The Swedish performance electric startup and Volvo affiliate will launch its halo vehicle in the U.S. this fall. The Polestar 1 is a 600-hp, carbon-fiber-clad, plug-in hybrid coupe.
Polestar initially expects to produce about 1,500 of the vehicles over three years. The first-year allotment for the U.S. is already sold.
Things heat up for the brand next year when its first mass-market vehicle arrives, the all-electric Polestar 2.
The five-door fastback is crucial to achieving Polestar CEO Thomas Ingenlath's goals of making the brand profitable in five to seven years and reaching global sales of more than 100,000 a year.