Polestars next EV will be a smaller SUV

Polestar just revealed more about two of its upcoming cars: Both will be electric SUVs.

On Thursday, the Volvo spin-off company revealed more about the Polestar 4 along with a peek at its upcoming SUV, the Polestar 3, and its plans for the next three years.

At a New York investor event, Polestar CEO Thomas Ingenlath previewed the Polestar 4, which will be released after the Polestar 3's arrival next year.

Polestar already has two cars. The Polestar 1 is a hybrid sports car that is being phased out by the end of this year, while the Polestar 2 is an electric sedan already available throughout the U.S. with 265-mile range and roughly $45,000 starting price.

While the event's focus was mostly on the upcoming 3 electric SUV, which has new features like autonomous highway driving thanks to built-in LiDAR sensors, the Polestar 4 was revealed as a smaller and sportier SUV. The more compact SUV will be available in 2023 with a targeted range of 370 miles on a single charge, according to MotorTrend. The auto publication compared it to the size of a Porsche Macan.

Polestar's Precept concept car, a luxury sedan similar to the Lucid Air, was revealed last month as the Polestar 5. It's expected to arrive in 2024. The concept car is making stops at different Polestar stores (called Spaces) around the U.S. Its first stop was in NYC at Thursday's event.

The lineup fills out Polestar's growth plans. In 2021, the Swedish car brand sold 29,000 vehicles. It's aiming to hit closer to 300,000 sales by 2025.

The Polestar 3, only shown in a camouflaged wrap so far, will be made at Volvo's plant in South Carolina, making it the first Polestar made in the U.S.