Volvo partner takes aim at Tesla
The sexy electric vehicle you probably haven’t heard of is gunning for Tesla, writes Rob Nikolewski.
THERE’S a new electric vehicle brand on the block with lofty ambitions — to take a chunk of market share from the hotselling Tesla Model 3.
It’s the Polestar 2, a liftback that can travel up to 440km on a single charge, go from zero to 100kmh in less than five seconds with allwheel drive and boasts being the first vehicle of any kind to feature a builtin Android infotainment system. The launch edition that rolls out in the first half of next year will cost $US63,000 ($NZ100,000) in the States.
Prospective buyers can get in line to purchase the car by putting down $US1000 reservations.
‘‘I think the equipment, the fit, the finish of the car are exceptional,’’ said Jonathan Goodman, Polestar’s chief operating officer. ‘‘And I think it makes a wonderful alternative to the highly successful Tesla Model 3.’’
Polestar is a standalone brand jointly owned by Geely, the Chinese auto giant, and Volvo.
Production is slated to begin in the first quarter of 2020 and when the car hits the streets in the second quarter, Polestar plans on opening retail operations in four West Coast cities in the US and one in Canada.
It’s easy to see why Polestar wants to make a run at the Tesla Model 3.
Promoted as a Tesla for the masses, the list price for a stripped down Model 3 starts at $US42,900 in the States ($NZ68,000), with rearwheel drive and 420km of range. More expensive versions with features such as allwheel drive and added range cost as much as $US70,000 ($NZ111,000) — and those cars have been delivered first.
And the Model 3 has racked up some impressive numbers, especially in California.
In the first six months of this year, the Model 3 was the third bestselling car in the Golden State — unheard of for an electric vehicle, or EV. Only the Honda Civic and Toyota Camry sold more units. The Model 3 accounted for more than 60% of all California’s EV registrations in the first two quarters.
‘‘Tesla has a huge market share and they really do set the bar for what an EV is,’’ said Jeremy Acevedo, pricing and industry analyst for Edmunds.com.
But by producing a car with sleek styling, roomier boot space than the Model 3 and the backing of Volvo’s service network, the makers of the Polestar 2 see an opportunity.
‘‘Dimensionally, it’s pretty similar to a Tesla Model 3 and I think it creates an alternative and joins the competition in and around it where there hasn’t been much,’’ Goodman said. ‘‘We happen to believe it’s a great alternative, but I think that’s for the customer to come in and have a look and decide.’’
Tesla officials declined to comment about Polestar taking aim at the Model 3.
So far, though, Tesla’s domination in the EV space has endured.
The company’s name recognition is unrivalled among its competitors, many Tesla owners speak of chief executive Elon Musk with an almost religious fervor and the company boasts a competitive advantage when it comes to battery technology — a key component in the EV sector.
A Polestar executive conceded that when it comes to energy efficiency, Tesla is ‘‘far ahead of everyone else’’.
‘‘Nobody quite yet has been able to outTesla Tesla,’’ Acevedo said. ‘‘Jaguar has had a full electric SUV hit the market (the IPace) and that’s kind of been met with lacklustre demand. The Audi etron, as well, really isn’t getting close to the Model 3 as far as sales numbers. These vehicles that have been billed as ‘Tesla killers’ really haven’t competed with the brand as far as market demand and sales thus far.’’
But by leveraging Volvo’s institutional knowledge, Polestar executives feel they can make inroads by beating the Model 3 on design and quality.
One of the Polestar 2’s most talkedabout features is a Google infotainment system. Google announced plans in 2017 to install Android technology into select Audi and Volvo vehicles. The Polestar 2 is the first to roll out Google’s incar experience.
With Android embedded, drivers don’t have to pair their smartphones with the vehicle when they get in the car. In essence, the car and the computer are one.
On the other hand, Polestar has a problem to overcome right out of the gate.
The lack of name recognition is ‘‘our primary challenge,’’ Goodman acknowledged.
The Polestar 2’s debut comes as car makers come out with greater numbers of EV offerings.
Porsche has unveiled the Taycan, a sports car that can go up to 450km on a single charge and hit 260kmh, for a base price of $US150,900 (NZ$238,000). — TCA