Polestar Introduced Polestar 4: A New Benchmark in Performance and Sustainability
Swedish electric car manufacturer Polestar, a joint venture between Volvo and Geely, has announced the latest addition to its lineup, the Polestar 4 electric performance SUV. It also introduces an all-electric, long-awaited vehicle with performance that directly competes with other premium brands, including the Tesla Model Y, Audi e-Tron, and others, however, with Polestar’s unique Scandinavian design language and sustainability at its core.
Electric Vehicle Market Revenue
According to Precedence Research’s report on the electric vehicle market is expected to generate a revenue of USD 317.26 billion worldwide by 2024. The market is anticipated to experience an annual growth rate of 23.42% (CAGR 2024-2033), resulting in a projected to market of USD 2,108.80 billion by 2033.
With a battery range of 400 miles per charge, the Polestar 4 outperforms several models of competitive-performing SUV cars to generate a strong case of versatility for daily traffic commuting. Performance: The new Polestar 4 is equipped with the dual-motor AWD system, achieving 0 to 60 mph in 4.2 seconds, and more than 450 horsepower, providing an excellent level of performance with minimal energy consumption. Sustainability: The seats and many other components of the car’s inside consist of vegan materials, recycled plastics, and carbon-neutral metals.
Polestar plans to achieve climate neutrality in electric car manufacturing by 2025, aligning with Volvo’s overall vision of ensuring the manufacturing of 50% pure electric car sales by 2025. Polestar’s actions dovetail with the ongoing electrification of transport on a global scale, most specifically in Europe, where environmental legislation has led to a high degree of EV penetration.
Global Electric Vehicle Market Share by Manufacturer (2024)
| Manufacturer | Market Share (%) | Total EV Sales (Million Units) |
| Tesla | 22% | 3.5 |
| BYD | 17% | 2.9 |
| Polestar (Volvo) | 7% | 1.1 |
| Rivian | 5% | 0.9 |
Polestar and Rivian are two brands actively entering the global market for electric vehicles due to partnerships and sustainable development. Rivian is benefitting from commercial vehicle collaboration with Amazon, while Polestar always stands out in its innovative performance with proper EV solutions. As both electric vehicle manufacturers expand production, the two are expected to have leading active roles in determining the future of e-mobility and in the fields of battery development and environmental management.
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