The 2024 Polestar 3 electric SUV is now on sale with a $7,500 EV purchase incentive for leases. The first electric SUV from Polestar is expected to begin delivering in the US in Q2 2023. The Polestar 3 will be available in two versions: Long Range and Long Range with Performance Pack. Both versions are powered by dual electric motors and offer up to 300 miles of EPA range.
The base Long Range Dual Motor starts at $83,900, while the Performance Pack version costs $89,900. The $7,500 “Polestar Clean Vehicle Incentive” is available for leases only and is valid through February 29th. Polestar is building the electric SUV at Volvo’s plant in South Carolina, but it’s unclear if the Polestar 3 will qualify for federal EV tax credits.
The Polestar 3 features a minimalist design and Scandinavian touch, riding on the same platform as the Volvo EX90. The launch of the Polestar 3 was delayed several times, and the brand’s website currently shows a Q2 delivery timeframe. Lease prices for the 2024 Polestar 3 dropped significantly before the model even went on sale. The discount may be a result of Polestar taking advantage of a loophole for leased electric vehicles.
The brand has not yet confirmed if the Polestar 3 will qualify for a $7,500 federal tax credit, giving shoppers a reason to consider leasing. The Polestar 3 will be the brand’s first EV built in North America and may be eligible for a tax credit eventually. The EPA does not list the Polestar 3 or its estimated range yet. The Polestar 2 is available through a flexible lease program, which allows lessees to end the lease after five months.
