Polestar will launch four new models in the next three years – including an estate version of the 4 and a next-generation 2 – as part of a bold growth strategy.

The Swedish EV firm, owned by Chinese giant Geely, sold around 60,000 vehicles globally last year with its current three-model line-up, but it has posted heavy losses that have badly hit its share price.

The firm has now outlined a timeline for four new models that will arrive by the end of 2028, which it hopes can overturn that financial slump. 

With this expanded line-up, former Opel-Vauxhall boss Michael Lohscheller, appointed CEO in late 2024, has targeted growing sales to around 100,000 units per year.

“Currently we capture around 25% of the EV market [segments],” said Lohscheller. “That’s actually not that much. With these new cars we’ll go to 55-65%. You can get more volume out of a bigger cake.”

The first model to arrive will be the Polestar 5 (pictured below), the electric grand tourer developed by the firm’s now-defunct UK R&D team and which is due this summer. 

It will serve as Polestar’s new halo model, and Lohscheller said it “summarises everything the brand stands for”. While the 5 will serve more as a brand halo than a volume-driver, it wouldn’t be a limited-run model.

Following that will come three launches intended to help drive the growth that Polestar needs.

Polestar 4 gains estate variant

The first of these will be a new variant of the Polestar 4 – the firm’s current best-seller – that will take the form of a sleek estate body style but, as with the current 4, will stand higher due to its EV platform. It is described by Lohscheller as “combining the space of an estate and the versatility of an SUV”. 

However, unlike the current coupé, the preview image confirms it will have a traditional rear window rather than using a camera – one of the coupé’s most heavily marketed features.

“The Polestar 4 is a winning model,” said Lohscheller, “but some people want a bit more function and practicality: some people have dogs. It’s all the good things from the current car, but it’s a bit more practical.”

The new estate-SUV variant, due later this year, will be named Polestar 4, with the current model rebadged the Polestar 4 Coupé. The two will be built alongside each other in Busan, South Korea, so they can be imported to the US without the prohibitive tariffs on Chinese-built cars.

Next-generation Polestar 2

While Polestar previously confirmed that it would develop an entirely new version of its original electric saloon, it has now confirmed that this will arrive in 2027 – earlier than anticipated. Lohscheller said it had been developed in around 30 months, which he called “record speed”.

Lohscheller added that the next-generation model, which will sit on a new platform, will “keep all the great things” of the existing car and “add a few things the current 2 doesn’t address in the most optimal way”. One example is that the new EV will be slightly longer, to increase rear passenger space. It will continue to be built in China.

Noting that Polestar had an average customer age of 45, Lohscheller said the new 2 was targeted at younger buyers while also designed to retain existing customers. 

He added: “We have sold 190,000 Polestar 2s to date, and we have a super-active community, so we hope the new 2 will convert them into a new Polestar.”

Polestar 7 to ramp up growth plans

The Polestar 7, a compact SUV closely related to the new Volvo EX60, will arrive in 2028 to target Europe’s fastest-growing EV market segment – and as such it is seen as the driving force behind the firm’s plans for further growth.

Lohscheller said he was “convinced we can offer customers a progressive performance-driven car for a very attractive price point”. The EV will build on Polestar’s existing design language and is likely to be sleeker than the EX60 – similar to how the Polestar 3 shares a platform with the EX90 but is lower and more purposeful.

The future

Lohscheller said the four new models made Polestar “confident we’ve got the right portfolio now” and put the firm in all the key EV markets and segments. But he insisted the firm was “still working” on the postponed sleek Polestar 6 drop-top as a “high-end derivative”, although it would not appear until after 2028 at the earliest.

While focused on growth, Polestar will remain a premium brand rather than one aiming to maximise sales. “We need to reach 100,000 sales for economies of scale, but I will not force a certain date to achieve that,” Lohscheller said. “I don’t want a brand where everyone talks volume.”