'We think it's fantastic': This electric performance car won’t be a top seller but it could make the brand a true premium player: 2027 Polestar 5 to draw buyers into other Polestar electric cars, but will a cheaper version come to Australia? 

Polestar has just launched its flagship model, the Polestar 5, after a lengthy gestation.

Previewed as far back as 2020 via the stunning Precept concept, the Polestar 5 is a four-door, electric grand tourer in a similar vein to the Porsche Taycan and Audi e-tron GT.

It has been delayed well beyond its initial expected debut but that was partly blamed on COVID as well as complications with developing a high-performance electric sports car, complex software and shifting priorities.

It might be an expensive, low-volume niche model, but the Polestar 5 is still critical for the brand, according to Polestar CEO Michael Lohscheller, who talked up the sleek new halo model at the IAA Mobility show in Munich.

“It really is our brand on wheels, because Polestar stands for design, Scandinavian design, performance, sustainability, and all this is embodied in this car. We think it's fantastic,” he said.

The Polestar 5 is the company’s most expensive car yet, ranging in price from $171,100 for the 550kW/812Nm Dual Motor to $193,100 before on-road costs for the 650kW/1015Nm Performance.

Lohscheller did not rule out the possibility of introducing lower-priced, less powerful grades down the track.

“We will always look like, hey, what's best? Are there any alternatives? But I would say that's really too early to say. So now all the focus is on a really successful launch of this car. But then we also see, right? Well, what is customer feedback, what is impact? And then I'm sure we will assess. So I wouldn't rule things out, but I also wouldn't say, ‘Hey, this is absolutely what we're going to do now’.”

If an entry level grade was offered it would likely be a rear-wheel-drive version that would bring down the performance figures from their current lofty heights.

The Chinese-owned Swedish EV-maker battled tech gremlins during the launch of the Polestar 3 large SUV and Polestar 4 crossover in the past year, suffering some reputational damage as a result.

Lohscheller said he was confident the Polestar 5’s launch would not suffer the same fate.

“Quality is for me, highest priority, right? And it's always easy to say in hindsight, right? But I mean, sometimes it's better to give it a bit more time to fix these things. But I think Polestar 5 will be a really, really good launch, and we also see strong, strong improvements on all our cars, especially through the software updates. So that's something which is relatively easy.

“You always need to make sure, like quality first, especially for a premium brand like ours, And we will do that on the Polestar 5.”

Lohscheller acknowledged that it would not be a volume seller for the brand, but said it was important to have the Polestar 5 in its line-up to build Polestar’s premium credentials.

“It is absolutely a halo car, right? Because the segment is not a volume segment, of course, it's also absolutely a brand shaper. But don't underestimate this impact. Because we want to attract customers also from premium segments. We want to build a premium brand, and therefore to have such a premium halo car is of highest importance.

“Because you can say a lot of things, like in meetings like this, and say, ‘ah, we built a premium brand and so on’. You can do tonnes of advertising, but at the end of the day, people only believe it once they see a real halo car. And let me tell you that’s absolutely what’s happening with the Polestar 5.”

He added that this halo effect would trickle down and hopefully attract new buyers to other more affordable models in its stable.

“And this is super important for the other brands because not everybody can afford or will buy a Polestar 5, but then you start to look at this car and say, ‘Hey, what about the other line-up? What about the Polestar 2? What about the Polestar 3? What about the Polestar 4?’

“And it’s of highest importance, but I don't expect, like, massive volume, of course, because the segment is limited, but for the brand, it’s of highest importance.”