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PostHeaderIcon Polestar 1 Reservation Books Open With a Tesla-like Policy

Polestar has finally made its Geneva Motor Show debut, and it did so with a bang. The recently spun-off performance brand took to Switzerland to formally present the Polestar 1, the luxury performance coupé that’s setting its sights on Tesla and the current electric car establishment. With details of the Polestar 1 already in the open, the brand took advantage of the venue to announce that, starting next week, the company will accept refundable deposits of $3,000.


Polestar 1 Reservation Books Open With a Tesla-like Policy - image 772879
“The Polestar 1 has the makings of becoming the first electric that Tesla could consider as a legitimate competitor”

The Polestar 1 has the makings of becoming the first electric that Tesla could consider as a legitimate competitor. It has looks that would make knees buckle. It has impressive performance capabilities. Most of all, it has that “new model” smell to it, the kind that attracts a lot of potential buyers. Where the model goes from here is the important question, but with the infrastructure that’s surrounding it — Volvo and Geely — there are high hopes for the Polestar 1 to realize its potential.

Come to think of it; a $3,000 refundable deposit isn’t a big deal. It’s actually a smart move by Polestar to take a route inspired by Tesla, not forcing its customers to lock in a reservation spot with a non-refundable deposit. The refundable option allows people to cancel their slots if they want to, though judging by how the Polestar 1 looks at first glance, I don’t imagine that there will be a lot of customers who will have second thoughts of buying one.


Polestar 1 Reservation Books Open With a Tesla-like Policy - image 772880
“If you happen to be interested in the car and are willing to go through either of the two ownership routes, you’re going to need to start booking your spot on the reservation list.”

Even if a customer does lock up a reservation spot, owning a Polestar 1 isn’t all about actually buying it outright. As Volvo announced a few months ago, there are alternate ownership methods available to prospective customers, specifically a subscription-based ownership model that allows customers to pay for a flat monthly subscription fee covering a period of two or three years. Buying one outright is also another option, but those who want to venture this route will have to come to grips with the fact that they’re going to buy a car that’s expected to be priced at around €130,000. That’s a little over $160,000 based on current exchange rates.

If you happen to be interested in the car and are willing to go through either of the two ownership routes, you’re going to need to start booking your spot on the reservation list. Polestar has made it clear that it’s capping production to 500 units per year over a three-year period. That would put the car’s production volume to around 1,500 units, making it more important for would-be customers to put down that deposit and get their spot in before they’re taken. Remember, over 6,000 customers have already expressed interest in buying or owning one. You don’t need to be a math wizard to know that a lot of people will be left disappointed when they don’t end up with the car.

References

Polestar 1


2018 Polestar 1 - image 739271

Read our full review on the 2018 Polestar 1.


maker logos - image 763348

Read more Geneva Motor Show news.

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