Volvo and its Chinese Owner Launching €150,000 Electric Car

The automotive company Volvo, currently owned by the Chinese automotive group Geely, plans to develop high-end super sports electric vehicles under its Polestar brand with the support of the Chinese company. Polestar was previously a group that enhanced Volvo's products, acquired by Volvo in 2015, and has now become a brand for developing Volvo's electric vehicles. Geely is set to invest $760 million in the development of electric vehicles for Polestar. The Polestar 1 is the first product to be produced under this investment, with limited production of 500 units starting in 2019. The price of this luxury hybrid (electric-gasoline) car is €150,000. The second product from the company, Polestar 2, will be produced in mass quantities, and the third product will be an electric SUV. The Polestar 1 can produce 600 horsepower and 1,000 Newton meters of torque. Its gasoline engine is a two-liter, four-cylinder engine equipped with both a turbocharger and a supercharger. The supercharger activates below 3,500 RPM, while the turbocharger kicks in at 3,500 RPM, providing additional air to the engine. This gasoline engine transmits power to the front wheels. Two electric motors are located at the rear wheels, each capable of producing 109 horsepower, which together can generate 400 Newton meters of torque. Essentially, this new product provides 400 horsepower and 600 Newton meters of torque from the gasoline engine, and 200 horsepower and 400 Newton meters of torque from the two electric motors. In electric mode, this product has a range of 150 kilometers, which is significantly lower than the 600 kilometers range of Tesla vehicles. In electric mode, the car becomes rear-wheel drive, but in hybrid mode, it transforms into a wild four-wheel-drive vehicle. This four-seater coupe is essentially a competitor to some enhanced products from Mercedes-Benz and BMW. Volvo has attempted to design the Polestar 1 by modifying the platform of its famous S90 product. To reduce the car's weight, many parts are made from carbon fiber. However, Polestar does not only aim to compete with enhanced Mercedes-Benz and BMW vehicles but also intends to compete with Tesla products, especially the Tesla Model 3, with the Polestar 2. The Tesla Model 3 can cover a distance of 346 kilometers on a single charge. A Tesla Model 3 owner can easily plug it in overnight in their garage and leave for work in the morning with a full battery. This vehicle can accelerate from 0 to 100 kilometers per hour in six seconds with its 250-horsepower electric motor. The rear-wheel drive is considered the default driving mode for this vehicle, although a four-wheel-drive system will also be available for order after some time. Electric vehicles are still expensive, but the Tesla Model 3, priced at $35,000, can change the rules of the game a bit. Electric vehicles have now approached the price of middle-class cars. The Tesla Model 3 does have a serious competitor. The Chevrolet Bolt is currently being sold as a fully electric vehicle at a price of $30,000. The Chevrolet Bolt uses a high-capacity electric motor that can produce 200 horsepower and 360 Newton meters of torque. The electric motor of this vehicle draws its power from a 60-kilowatt-hour battery made by LG, which is located at the bottom of the vehicle. With these specifications, the Chevrolet Bolt can reach a speed of 96 kilometers per hour in less than 7 seconds. It seems that despite the Tesla Model 3 and Chevrolet Bolt, the Polestar 2 will have a tough road to success. The Polestar 2 is expected to be unveiled in late 2019, while the Polestar 3 will enter production in 2021.