You know, just in case you change your mind..

Polestar has finally made its Geneva Motor Show debut, and it did so with a bang. The recently spun-off performance brand took to Switzerland to formally present the Polestar 1, the luxury performance coupé that’s setting its sights on Tesla and the current electric car establishment. With details of the Polestar 1 already in the open, the brand took advantage of the venue to announce that, starting next week, the company will accept refundable deposits of $3,000.

Polestar 1 Reservation Books Open With a Tesla-like Policy Exterior
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The Polestar 1 has the makings of becoming the first electric that Tesla could consider as a legitimate competitor

The Polestar 1 has the makings of becoming the first electric that Tesla could consider as a legitimate competitor. It has looks that would make knees buckle. It has impressive performance capabilities. Most of all, it has that “new model” smell to it, the kind that attracts a lot of potential buyers. Where the model goes from here is the important question, but with the infrastructure that’s surrounding it — Volvo and Geely — there are high hopes for the Polestar 1 to realize its potential.

Come to think of it; a $3,000 refundable deposit isn’t a big deal. It’s actually a smart move by Polestar to take a route inspired by Tesla, not forcing its customers to lock in a reservation spot with a non-refundable deposit. The refundable option allows people to cancel their slots if they want to, though judging by how the Polestar 1 looks at first glance, I don’t imagine that there will be a lot of customers who will have second thoughts of buying one.

Polestar 1 Reservation Books Open With a Tesla-like Policy Exterior
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If you happen to be interested in the car and are willing to go through either of the two ownership routes, you’re going to need to start booking your spot on the reservation list.

Even if a customer does lock up a reservation spot, owning a Polestar 1 isn’t all about actually buying it outright. As Volvo announced a few months ago, there are alternate ownership methods available to prospective customers, specifically a subscription-based ownership model that allows customers to pay for a flat monthly subscription fee covering a period of two or three years. Buying one outright is also another option, but those who want to venture this route will have to come to grips with the fact that they’re going to buy a car that’s expected to be priced at around €130,000. That’s a little over $160,000 based on current exchange rates.

If you happen to be interested in the car and are willing to go through either of the two ownership routes, you’re going to need to start booking your spot on the reservation list. Polestar has made it clear that it’s capping production to 500 units per year over a three-year period. That would put the car’s production volume to around 1,500 units, making it more important for would-be customers to put down that deposit and get their spot in before they’re taken. Remember, over 6,000 customers have already expressed interest in buying or owning one. You don’t need to be a math wizard to know that a lot of people will be left disappointed when they don’t end up with the car.

References

Polestar 1

2018 Polestar 1
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2018 Polestar 1

Read our full review on the 2018 Polestar 1.

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Read more Geneva Motor Show news.

Press release

Polestar, the new electric performance brand, has introduced the Polestar 1 to the public for the first time at the Geneva Motor Show. The European debut follows its global media reveal in Shanghai, China, in late 2017.

“This is the public launch of the new Polestar 1, and our new electric performance brand. Electromobility is the main focus of today’s automotive industry, and Polestar is at the centre of this development, introducing world-class electrified cars and ground-breaking, customer-focussed services and offers,” said Thomas Ingenlath, Chief Executive Officer of Polestar.

“To date, we have received interest from over 6,000 potential customers wanting the Polestar 1 – a number which began gathering momentum from the moment the car was revealed. With our current plans to produce 500 cars per year, it’s possible that we have exceeded our production potential in these early stages. This positive reception to Polestar 1 really encourages us that our ‘Pure, Progressive, Performance’ brand proposition resonates very well with customers.”

Polestar will open pre-orders for the Polestar 1 at 08:00 CET on 13 March 2018 with a request to the list of potential customers to pay a fully-refundable deposit of €2,500. Pre-orders will open in the six initial launch markets announced in January, including China, the United States, Sweden, Germany, Norway and the Netherlands. An additional 12 new markets for Polestar 1 have been added and will open for pre-orders simultaneously, including Switzerland, the UK, Belgium, Finland, France, Poland, Austria, Spain, Italy, Denmark, Portugal and Canada.

“We will open pre-ordering of the Polestar 1 to eighteen markets which covers around 95 per cent of the geographical interest from potential Polestar 1 customers,” continued Thomas Ingenlath. “The deposit acts as a placeholder in the Polestar 1 queue and we are excited to see how the initial response translates into pre-orders.”

The Polestar consumer experience is based on a new subscription model, where customers will be able to subscribe to their Polestar car for two or three years. Linked to a host of connected and on-demand benefits like pick-up and delivery servicing, the no-deposit, all-inclusive subscription model has been designed to take the traditional hassle out of vehicle ownership with one monthly fee that includes sundries like insurance and maintenance, and allows the customer to focus on the enjoyment of driving. Customers will also be able to purchase the Polestar 1 outright if desired.

The Geneva Motor Show also marks the start of a world tour for the Polestar 1. Other regional reveal events are planned in China, the United States and elsewhere in Europe, which will allow customers, potential subscribers and brand fans to see the new Polestar 1 in key markets in the build up to the start of production in mid-2019. Development at the new Polestar Production Centre in Chengdu, China, is progressing with suitable pace. Having broken ground in November 2017, construction is on track for tooling installation and pre-production to begin as planned towards the end of 2018.

“The beautiful new Polestar Production Centre in Chengdu will become our manufacturing hub and the centre of Polestar manufacturing operations,” said Jonathan Goodman, Chief Operations Officer of Polestar. “With its Scandinavian design principles, expertly executed by Snøhetta of Norway, and its roots quite literally set in one of our main markets, the Polestar Production Centre not only serves as the birthplace of all Polestar 1 cars, but also a brand experience facility with a dedicated test track and other client-focused facilities which contribute to the world-class Polestar customer experience.”

The Polestar 1 is an Electric Performance Hybrid 2+2 GT coupé which produces 600 horsepower and 1,000 Nm of torque, as well as 150 km of pure electric driving range – the longest of any hybrid car in the world.

The Electric Performance Hybrid powertrain features an internal combustion engine powering the front wheels, while a double electric rear axle drive system powers the rear wheels from a total of 34 kWh of battery power. In combination, the Polestar 1 is an electric vehicle with the benefits of an internal combustion engine to supplement the electric drive over long distances when required.

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