Top News

• The company will manufacture the Polestar 4 SUV in Busan, South Korea.
• The rationale for launching an SUV version of the Polestar 4 is its commercial success.
• At the end of Q1, Polestar reported a 7% increase in sales, with 13,126 cars sold.

Swedish electric automaker Polestar (PSNY) on Tuesday confirmed it will launch a new sports utility vehicle based on the designs of its well-known Polestar 4 coupé.

According to its website, the “Polestar 4 SUV” will feature retuned chassis components, extra space, and what the company calls “an added layer of flexibility and practicality.”

Shares of the company were marginally down in U.S. trading but among the top-trending tickers on Stocktwits.

Why Polestar Is Expanding The Polestar 4 Family

The company’s rationale for launching an SUV version of Polestar 4 is its commercial success. While the company did not break down how many Polestar 4 vehicles were sold in its first-quarter report, it highlighted that the model contributed to higher margins and a greater contribution to the product mix, indicating growing sales.

At the end of Q1, Polestar reported a 7% increase in sales, with 13,126 cars sold. The company is set to announce second-quarter retail sales volumes and delivery figures on July 9.

“With Polestar 4 SUV, we're building on that success by offering even more versatility, while staying true to the Polestar 4 character. Wrapped in a stunning design, this is a car I've been looking forward to sharing with the world,” CEO Michael Lohscheller said in a statement.

Polestar 4 SUV: What Buyers Get

The latest SUV will feature a 400-volt battery architecture, with the long-range single-motor rear-wheel-drive variant delivering up to 630 kilometers (391.5 miles) of range and the dual-motor variant delivering up to 544 horsepower, which is similar to the original coupé version that came out in late 2023.

The company will manufacture the Polestar 4 SUV in Busan, South Korea, and sales will begin on September 2 this year across its global markets. While pricing details for the upcoming vehicle were not disclosed, the Polestar 4 coupé retails for $56,400 in the U.S. for the base model and up to $68,400 for the maxed-out version.

What Retail Traders Think About PSNY

On Stocktwits, retail sentiment toward the stock remained in ‘bullish’ territory over the last 24 hours.

PSNY shares have fallen roughly 5% so far this year and declined about 38% over the last 12 months, underperforming the benchmark index.

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