The new Polestar 7 will be a Porsche Macan Electric-rivalling premium SUV and the firm’s first model produced in Europe.
The Swedish firm has confirmed early details of the new EV as part of a revised strategy, which includes a target to grow sales by 30-35% in the coming three years.
The forthcoming 7 will essentially serve as a successor to the Polestar 2 liftback, although it won’t be a direct replacement, with this announcement hinting it will take more of an overtly SUV-like form.
Polestar’s new head of design, Philipp Romero, said: “Polestar is known for its progressive design, with each car standing out and creating its own buzz. So too will [the] Polestar 7.”
He added that the new model will be “everything our customers expect from us, both in terms of design and performance”.
Polestar has yet to give details on where in Europe the 7 will be produced, but it’s known to have been looking at an under-construction Geely plant in Slovakia.
Polestar’s profitability target
Former Opel boss Michael Lohscheller was recently named as Polestar’s new CEO after Thomas Ingenlath resigned last August after seven years in charge of the Geely-owned brand.
He has now revealed an updated business strategy that involves “significant changes” to improve the firm’s operations and financial performance.
The new 3 and 4 EVs accounted for more than half of Polestar’s orders in the final quarter of last year, and the firm’s line-up will continue to expand with the launch of the Porsche Taycan-rivalling 5 GT due this year.
Polestar says that, along with the arrival of the 7 – previously announced as due to launch in 2027 – will help achieve its ambitious plans to boost sales volume by around a third.
It’s also aiming to have a positive free cash flow by that date.
Notably, Polestar will eventually move all of its models onto a single vehicle architecture, which it says will reduce “complexity, costs and investments”.
Lohscheller said: “We are building on the strong Polestar brand with design and performance at its core – but significant changes are needed to make this well-respected progressive brand a successful and viable business.”
The firm is also speeding up its retail expansion, with the goal to increase its number of showrooms (‘Spaces’) by 75% by the end of next year, expanding to 130 locations in Europe and 57 in North America.
Polestar is also set to start selling cars in France, where its launch was delayed by a dispute with Citroën over its logo design.
