Following an initial launch in October last year and a full reveal at the Geneva Motor Show last month, Volvo has now given its Polestar 1 grand tourer a price tag during this week's Auto China 2018 in Beijing.

The Polestar 1 is the first model to don the Polestar badge, the name given to the Volvo performance arm responsible for powerful whips like the Volvo XC90 and XC90. Packing 600 hp (447 kW) and 738 lb-ft (1,000 Nm) of torque, the Polestar 1 will also be able to cover 150 km (93 mi) in electric-only mode, which Volvo claims is the farthest for any hybrid car in the world.

Pre-orders opened up last month for the Polestar 1, and Volvo says more than 7,000 people have already placed a deposit. Now they know exactly what they are up for, with the company today announcing it will carry a price tag of US$155,000, €155,000 in Europe and 1.45 million RMB in China. Volvo also says subscription options will be available for all Polestar vehicles, with a monthly payment covering all on-road costs.

An plans are already in motion for the debut model's successors.

"We have seen a strong initial response from our first customers," says Thomas Ingenlath, Chief Executive Officer at Polestar. "This gives us confidence that our brand has a bright future. In 2019 already we will launch our next car, the Polestar 2 – a mid-sized fully-electric car which is well developed in its engineering phase. We will follow that up with the Polestar 3, a stunning electric SUV with a beautiful aerodynamic silhouette that is already advanced in its design phase."

The Polestar 1 is expected to hit the streets in 2019.

Source: Polestar

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