Editorial credit: quiggyt4 / Shutterstock.com
Executive Summary:
Swedish electric vehicle maker Polestar is intensifying competition with Tesla by offering $20,000 in discounts to U.S. Tesla owners who lease a Polestar 3 SUV. The promotion includes a $5,000 “Conquest Bonus” and a $15,000 “Clean Vehicle Incentive”, bringing the luxury EV’s cost down from around $93,000 to $73,000—under Tesla’s Model S price, which nears $80,000 with upgrades.
The campaign, which began as a February pilot, was expanded after a surge in March orders, signaling strong consumer interest. The Polestar 3 features a 350-mile range, 517 horsepower, and integrated Google Assistant and Apple CarPlay.
This aggressive pricing strategy comes amid broader shifts in the EV market. As a new 125% tariff on Chinese goods looms, automakers are racing to adapt. Polestar, which sources key components from China, is actively seeking alternative suppliers and aims to expand U.S.-based manufacturing, including production at a Volvo facility in South Carolina.
Other EV makers are following suit: Lucid is offering up to $4,000 off its Air sedan for Tesla owners, while Ford and Stellantis are also rolling out deep discounts. As the EV landscape shifts, manufacturers are rethinking supply chains and production strategies to stay competitive and mitigate rising costs.
Read full article@retailwire.com
