Polestar Is The Car Brand Tesla Should Be Really Worried About
While many are getting excited about taking delivery of their Tesla Model 3s, despite once again the company being nowhere near its projected production numbers, in Shanghai this week Volvo unveiled its new 600hp Polestar 1, set to roll off the production line in mid-2019.
What was clear from the launch was that these new cars, especially the pure electric brother of the 1, the Polestar 2 coming later in 2019, pose a major threat to Tesla's share of the EV market. Indeed, Polestar CEO Thomas Ingenlath has stated publicly that the 2 is designed to go head-to-head with the California firm's new Model 3.
Polestar is Volvo's standalone premium electric-vehicle arm, and Volvo's Chinese owner, Zhejiang Geely Holding Group, has pledged to invest $755 million to develop the company. The Polestar models will be built at its new plant in the western Chinese city of Chengdu, which already has a Volvo factory.
Tesla should be worried, too. It may have had the jump on traditional car manufacturers with regards to commitment to battery technology over internal combustion engines (ICEs), but now those traditional manufacturers are finally getting their acts together with viable electric options such a Jaguar's I-Pace (expected to be revealed at the Geneva Motor Show in March 2018) and the updated, range-extended BMW i3.
So far, Tesla has seemed unconcerned with these electrified offerings from the old OEMs, as if they are still dipping their toes in the water, but Volvo is serious. It announced in July its intention to electrify all its powertrains by 2019, and these two new Polestars are a taste of things to come from the company - and a very enticing one it is, too.
“We want to be leaders in electrification,” Volvo CEO Håkan Samuelsson said at the launch event. But this isn't why Tesla should be taking note. Many car companies would trot out the same statement. The difference here is that Volvo is known for the reliability and build quality of its cars. The same cannot be said of Tesla, which has been dogged with production issues.
Despite this first effort being a gasoline hybrid, all future cars from Polestar will be on a fully electric powertrain. The Polestar 2 will be mid-sized competing with the Tesla Model 3 and the like. This will then be followed by a larger SUV-style EV, the Polestar 3.
Not content with fully embracing electrification, Polestar wants to change they way we all buy our motors by selling its cars differently - mimicking how we now buy our mobile phones, in fact, through subscription plans with monthly payments and no upfront fee.
Cars will be ordered and specced entirely online (though there will be showrooms to go see the product before you commit), subscriptions will have add-on features such as pick-up and delivery servicing and the ability to rent alternative vehicles within the Volvo and Polestar range. And to further an intended "hassle-free experience", Polestar cars will have "Phone-As-Key" technology. Your mobile will be all you need to unlock the car, which is handy but will also allow the owner to share a virtual key with a third party. Sending your car keys to a friend who wants to borrow your motor, from wherever you are in the world, is a great idea, and bests current options which mostly use plastic cards so still require the driver to carry a physical "key" of some sort.
This all builds to a compelling case for Volvo and Polestar, one where the company is not only talking about electrification and changing the motoring landscape, but is actively engaged in doing so, creating entirely new ownership models, calling time on antiquated ICE powertrains and refusing to let Tesla corner the EV market. This is definite progress, and the other OEMs should not only be applauding Volvo, they should be making sure they aren't left behind.
What was clear from the launch was that these new cars, especially the pure electric brother of the 1, the Polestar 2 coming later in 2019, pose a major threat to Tesla's share of the EV market. Indeed, Polestar CEO Thomas Ingenlath has stated publicly that the 2 is designed to go head-to-head with the California firm's new Model 3.
Polestar is Volvo's standalone premium electric-vehicle arm, and Volvo's Chinese owner, Zhejiang Geely Holding Group, has pledged to invest $755 million to develop the company. The Polestar models will be built at its new plant in the western Chinese city of Chengdu, which already has a Volvo factory.
Tesla should be worried, too. It may have had the jump on traditional car manufacturers with regards to commitment to battery technology over internal combustion engines (ICEs), but now those traditional manufacturers are finally getting their acts together with viable electric options such a Jaguar's I-Pace (expected to be revealed at the Geneva Motor Show in March 2018) and the updated, range-extended BMW i3.
So far, Tesla has seemed unconcerned with these electrified offerings from the old OEMs, as if they are still dipping their toes in the water, but Volvo is serious. It announced in July its intention to electrify all its powertrains by 2019, and these two new Polestars are a taste of things to come from the company - and a very enticing one it is, too.
“We want to be leaders in electrification,” Volvo CEO Håkan Samuelsson said at the launch event. But this isn't why Tesla should be taking note. Many car companies would trot out the same statement. The difference here is that Volvo is known for the reliability and build quality of its cars. The same cannot be said of Tesla, which has been dogged with production issues.
Despite this first effort being a gasoline hybrid, all future cars from Polestar will be on a fully electric powertrain. The Polestar 2 will be mid-sized competing with the Tesla Model 3 and the like. This will then be followed by a larger SUV-style EV, the Polestar 3.
Not content with fully embracing electrification, Polestar wants to change they way we all buy our motors by selling its cars differently - mimicking how we now buy our mobile phones, in fact, through subscription plans with monthly payments and no upfront fee.
Cars will be ordered and specced entirely online (though there will be showrooms to go see the product before you commit), subscriptions will have add-on features such as pick-up and delivery servicing and the ability to rent alternative vehicles within the Volvo and Polestar range. And to further an intended "hassle-free experience", Polestar cars will have "Phone-As-Key" technology. Your mobile will be all you need to unlock the car, which is handy but will also allow the owner to share a virtual key with a third party. Sending your car keys to a friend who wants to borrow your motor, from wherever you are in the world, is a great idea, and bests current options which mostly use plastic cards so still require the driver to carry a physical "key" of some sort.
This all builds to a compelling case for Volvo and Polestar, one where the company is not only talking about electrification and changing the motoring landscape, but is actively engaged in doing so, creating entirely new ownership models, calling time on antiquated ICE powertrains and refusing to let Tesla corner the EV market. This is definite progress, and the other OEMs should not only be applauding Volvo, they should be making sure they aren't left behind.
The automobile industry is all about software now. I guess we are all about to become the jetsons soon enough.
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