Polestar 3 officially goes on sale in China, gets a $30k price cut

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

Although Polestar initially stated that 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 announced at 1,030,000 yuan ($149,550), but now costs 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 to make the 3 more competitive with rivals. For example, the BMW iX is a solid seller in China and has a starting price of 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 cut comes just weeks after Polestar CEO Thomas Ingenlath stated that the brand would not engage in price wars. Ingenlath believes that Polestar is a premium brand with a “completely different goal” than Tesla.

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

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