Competing on the electric vehicle market is not at all simple: finding yourself faced with a giant like Tesla represents a danger to the business of all start-ups that decide to make their debut in this segment. A winning strategy could therefore be to behave exactly the opposite to Tesla: an idea that flashed in the minds of the executives of Polestarconvinced that to achieve success it is necessary to trace a path that does not resemble the one carried out by Elon Musk’s brand.
Premium electric future
Taking away market share in today’s extremely competitive automotive market it’s not easy at all. This is why Polestar’s choice is very clear: chasing Tesla makes no sense, it is better to focus on alternative paths in terms of electric vehicles and the zero-emission range as a whole. In particular, the Swedish brand aims to build a luxury premium electric range that it is niche instead of smaller, cheaper cars: according to Thomas Ingenlath, the CEO of Polestar, it is more important to be a company rooted in high quality rather than low price.
Not like Tesla
“We want the Polestar 3, 4 and 5 to firmly secure our place in the premium luxury segment rather than producing smaller, cheaper cars – explained the number one of the Swedish brand – We just renewed the Polestar 2, we returned it better and a little more expensive. We could have done exactly the opposite, taking away its value through a battery and a cheaper electric transmission and using low cost materials, thus maintaining the same price. Or we could have followed Tesla and offered just one screen, saving a lot of money since that monitor in front of the driver is expensive. But we didn’t“.
Price war
Ingenlath then focused on the price war issue, triggered by rival Tesla at the beginning of the year in China which saw the participation of more and more car manufacturers month after month. A scenario that Polestar’s number one has excluding categorically for your company: “We have stated very clearly that we will not enter into a price war to achieve volume targets because we want to maintain our premium position. We are definitely not running after Teslawhich wants to have X factories and volumes in the millions”.
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