New 2024 Polestar 4 set to break sales records

The 2024 Polestar 4 is primed to become the Chinese-owned EV brand’s best-selling model when the all-new SUV launches globally next year, according to CEO Thomas Ingenlath.

Speaking to Australian media from the Shanghai motor show this week, where the Polestar 4 made its world debut, Ingenlath said the new SUV has “a great potential” to become the best-selling Polestar model – just as the Model Y has done for Tesla.

“There’s that much that we can predict,” he said.

“As a new, young brand, we don’t have a predecessor there so we have to very much see how this develops. [But] it definitely has a great potential.

“With its style and attractiveness, it indeed has the potential to become our best-seller.”

Competitive pricing was also nominated as one of the key drawcards of the new Polestar 4.

While “indicative” launch pricing of €60,000 ($A98,310) in Europe looks relatively high compared to the Model Y, Polestar has closely matched Tesla on pricing in Australia with the Polestar 2 (compared to Model 3).

Ingenlath wouldn’t divulge Polestar 2 sales targets, but did nominate a brand-wide annual target of between 200,000 and 300,000 sales once its incoming models – the Polestar 3, 4, 5 and 6 – are on sale alongside the established Polestar 2.

There’s no doubt Polestar is following Tesla closely with its growing portfolio, but Ingenlath insisted the two brands have “complete different” intents.

“We have a complete different mission I think with the brand, Polestar, than what Elon Musk has defined as Tesla’s vision for the future – going into a brand that is aiming to sell something like 10 million cars per year,” he said.

“Obviously our volume ambitions are on a complete different dimension and level.

“We are aiming to become a profitable, highly profitable premium car brand that finds its sustainable base to invest into the future, to deliver on value for our investors at a volume that is somewhere above 200,000 (units), close to 300,000 per year.

“That is a very, very different ambition than going into the million and competing with Toyota or Volkswagen.”

Now that it’s established in the market, Polestar could now be heading further upmarket than Tesla as its next wave of models reach production.

According to Ingenlath, the Polestar 2’s competitive Tesla Model 3-matching launch pricing was designed to make a splash and get people talking about this new brand coming to market before pushing into higher segments.

“It was always geared that Polestar 2, being the base, the entry ticket to Polestar is not representative really for the holistic idea of what Polestar is about,” he said.

“The Polestar 3 very much brings this a bit more to a clear perspective; being fully there in the middle of the premium segment as an SUV that really represents that brand direction much better.

“That’s actually the reason why we had the Polestar Precept out very early – in order to give customers a bit more of an idea about the direction of the brand.”

That direction is ultimately upmarket of fellow Geely Group brand Volvo, in a similar fashion to the Audi-Volkswagen relationship.

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