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Insider's favorite electric car of 2020 is getting a cheaper version

Tim Levin   

Insider's favorite electric car of 2020 is getting a cheaper version
  • The Polestar 2, Insider's favorite electric vehicle of 2020, is getting cheaper in 2021.
  • The luxury sedan starts at $59,900 now, but Polestar is adding a lower-cost, single-motor version.
  • The single-motor option will extend the Polestar 2's range to roughly 260 miles.

The Polestar 2 won Insider's 2020 Car of the Year awards, but with a starting price of $59,900, it doesn't come cheap.

The electric luxury sedan is set to get a bit more affordable, though, Polestar announced Tuesday, but details on the new pricing were scant.

Polestar, a new electrified brand from Volvo and its Chinese parent company, Geely, is introducing a new version of the EV for buyers who want a cheaper base price and extra driving range. It's also overhauling its pricing with the addition of three options packages.

The brand says the new single-motor Polestar 2 will have an EPA-estimated range of roughly 260 miles, up from the 233-mile driving range currently available in the "launch-edition" model. The base model gets one 231-horsepower motor instead of the pair of 204-horsepower units in the launch edition, but it retains the same 78-kWh battery pack.

A driving range of 260 miles puts the long-range Polestar 2 in the same league as most non-Tesla EVs on the market today. But when it comes to range, Tesla still beats out most of its rivals by a long shot. The Model 3 delivers up to 353 miles on a charge, while the Model S "Long Range" gets 412.

Read more: You should appreciate Tesla even if you can't stand Elon Musk - because it's done something nobody thought was possible

Polestar will also release a new "simplified" dual-motor model to slot below the "Launch Edition." It will offer a 240-mile range and a few different options packages.

The "Plus Pack" adds features like a panoramic glass roof, an upgraded Harman Kardon audio system, and a new heat pump that better cools the battery and improves range by up to 10%, according to Polestar. A "Pilot Pack" driver assistance suite and a "Performance Pack" are also available, but the latter is only for dual-motor Polestar 2 models.

Polestar plans to announce North American pricing for the new models "in the coming weeks" and says the single-motor model will go on sale in the US in late 2021. The brand is offering buyers $2,000 off of their Polestar 2 purchase if they trade in a combustion-engine vehicle.

In Europe, the new base model will start at roughly €40,000 or around $48,000, which may indicate its approximate starting price in the US.

Polestar also sells the Polestar 1, a flagship hybrid model that costs $155,000. That vehicle tied with the Polestar 2 to win top honors in Insider's 2020 Car of the Year awards.


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