Polestar will further expand its electric vehicle lineup with the launch of its third model and its first SUV. The Polestar 3 will share bits with the upcoming third-generation Volvo XC90 but will be powered by a unique powertrain. The Swedish automaker now announces the official debut of the zero-emissions crossover is scheduled for October this year and the customers will be able to order it on the day of the global premiere.

The official announcement is hidden in a press release summarizing Polestar’s sales and financial results for the first four months of the year. The company believes it has the potential to grow significantly with the launch of the Polestar 3 as the SUV market is one of the highest growth and margin segments in the automotive industry today.

Gallery: Polestar 3 Teaser Image

“We believe our future growth will be further accelerated by our entry into the lucrative SUV market later this year with the world premiere in October of the long-awaited Polestar 3 electric performance SUV. Polestar 3, which will be manufactured in the US and China, will stand out amongst other SUV offerings and boost our strong growth trajectory to take us into our next phase,” Thomas Ingenlath, Polestar CEO, says.

We don’t know many details regarding the Polestar 3, but we do know it will be available with one or two electric motors. It will be sold only in two-row configuration and will be positioned as a more expensive, more luxurious, and sportier product than the Volvo XC90. As mentioned above, the two SUVs from Sweden will be based on the same platform, but the Polestar 3 will be equipped with exclusive purely electric powertrains. The model will be built in the United States.

As for Polestar’s sales results, the company proudly says it has delivered a record number of new vehicles during the first four months of the year. About 13,600 vehicles have been delivered around the globe or more than double compared to the same period last year. Polestar is now present in 23 markets with the goal to reach 30 markets by the end of next year.

Got a tip for us? Email: tips@motor1.com