Polestar 7 announced as new compact SUV for Europe

Polestar has confirmed yet another model in its quest to conquer the premium electric vehicle (EV) market. The Polestar 7 will apparently be a “premium compact SUV” built in Europe, although no timeframe has yet been set for its reveal or market launch.

Expected to rival models such as the Tesla Model Y, BMW iX1 and Hyundai Ioniq 5, the car will be manufactured in Europe, complementing Polestar’s factories in the US, South Korea and China. The maker says the introduction of the 7 SUV will see it move from a multi-platform approach to “one single architecture, reducing complexity, costs, and investments”.

Philipp Romers, Polestar’s Head of Design said: “Polestar is known for its progressive design, with each car standing out and creating its own buzz – so too will Polestar 7. It is incredibly exciting to bring Polestar’s design ethos to a new segment; 7 will be everything our customers expect from us, both in terms of design and performance.”

No further information has been released at this time, although previous reports suggested that the forthcoming Polestar 7 would replace the popular Polestar 2, which fits with it taking the form of a “premium compact SUV” in the “fastest growing and most profitable premium segment”. Given that the Polestar 2 launched in 2020, the 7 is likely to arrive around 2027/2028, priced from less than £50,000.

Elsewhere, Polestar’s CEO Michael Lohscheller said he expects 2025 to be the “strongest year in Polestar’s history”. 

He explained: “We have three outstanding cars on the road and a growing, passionate customer base. We are building on the strong Polestar brand with design and performance at its core. But significant changes are needed to make this well-respected progressive brand a successful and viable business.

“We are speeding up our retail expansion and commercial transformation, whilst adjusting our future model line-up and significantly reducing our cost base.”

The business is said to be targeting 30 to 35 per cent growth in annual retail sales volume by 2027, and a “positive-adjusted EBITDA” in 2025. It says it wants a “positive free cash flow after investments expected in 2027”.

Polestar 2, 3 and 4 are now on sale, and the Polestar 5 four-seat saloon will launch later this year. It will be based on Polestar’s “in-house developed bonded-aluminium platform” and will be the first model to use an 800-volt electrical architecture.

The firm will also look to challenge Tesla with a home energy solution called Polestar Energy. It says it makes home charging “smarter, more efficient, and cheaper”, and can reduce home charging costs by up to 30 per cent via the Polestar Energy app.

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