Polestar 3 Officially Goes On Sale In China, Gets $30k Price Cut

The luxury SUV is expected to arrive in the US later this year.

By: Ben O'Hare

Mar 19, 2023 at 7:57am ET

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The Polestar 3 has officially launched in China. The Tesla Model X and Rivian R1S rival is expected to arrive in Europe and North America this winter.

Although initially Polestar stated the 3 would start at 880,000 yuan ($127,773), it now has a revised base price of 698,000 yuan ($101,350). Meanwhile, the Performance variant was originally advertised at 1,030,000 yuan ($149,550) but now comes in at 789,000 yuan ($114,560). This means price cuts of $26,423 and $34,990 respectively ($30,706 on average).

Polestar did not give a reason for the price cuts but presumably they were done so the 3 would be more competitive with rivals. For example, the BMW iX is a strong seller in China and starts at 746,900 yuan ($108,316). Meanwhile the updated version of the Tesla Model X, which has been on sale in the US since 2021, is expected to finally reach Chinese consumers this year. The facelifted X will start at 879,900 yuan ($127,758).

Interestingly, the price reduction comes just a few weeks after Polestar CEO Thomas Ingenlath stated the brand would not engage in price wars. Ingenlath believes Polestar is a premium brand with a "completely different aim" to Tesla.

The Polestar 3 is powered by a 111 kWh battery and has an estimated EPA range of 300 miles. The 3 shares much in common with the Volvo EX90, however unlike the Volvo it only has seating for five. As standard, the 3 has 489 hp and a 4.9 second 0-60 mph time. Selecting the optional Performance Pack results in a 4.6 second 0-60 mph time and 517 hp output.

Source: Teslarati