Polestar not competing with Tesla instead Porsche EV, says executive

Electric vehicle (EV) maker Polestar said that it is not finding competition with Tesla, instead, the company is looking to compete in premium EV market against Porsche and similar brands.

Graeme Lambert, Global Communications Executive For Design Innovation and Asia Pacific at Polestar told Australian media (via Drive) that Tesla is chasing volume.

“They are a mass-market prduction player. We are a premium luxury brand with volume targets that are in line with that”.

Tesla is an EV leader which started price war in the market to increase sales. The company shipped 1.81 million vehicles through 2023 but forecast a slow 2024 with decline in business.

Polestar 4 (Image Credit: Polestar)

A few days ago, the company released the first quarter business result for the year and said to deliver 386,810 vehicles.

Polestar on the other hand said that it is aiming for about 150,000 global sales target for 2025. The company last year delivered 54,600 Polestar vehicles with 6 percent growth compared to 2022.

“We whereas Tesla is making millions of cars, we’ve never said we would do millions of cars” Lambard  added.

Polestar has a top of the line Polestar 4 in the launch peipeline and the company is projecting it to be the top premium EV available in the market.

Lambert explained that the Polestar 4 will compete against brands like Porsche with its new Mecan EV priced from $133,700 plus on-road costs in Australia.

“That would definitely be where we are looking rather than Tesla” He concluded.