What's the difference?
The Polestar 2 was one of the first electric vehicles (EVs) in Australia to break through to the mainstream, however it has always been relegated to the Tesla Model 3’s shadow.
As a result Polestar is constantly playing catch up, releasing update after update for this premium-pushing electric liftback. The most notable was a major mid-life update in 2024.
Two years after this, Polestar has just rolled out the 2026 model year (MY26) update which introduces a range of subtle changes, largely under the surface.
It comes as Polestar is now introducing newer models, there’s mounting pressure from legacy carmakers who are only now catching up to EV tech, and Australians are moving away from buying passenger cars to SUVs.
Has this latest update improved the appeal? Read on to find out.
Yep, it’s like deja vu all over again! Yet another fresh name in the Aussie new-car market, but this time in the form of a sub-brand from a carmaker that itself feels like it’s only been around for five minutes (but has in fact been in market here for a decade or more).
We’re testing the MG IM5 Performance, the IM badge standing alone in other markets. There, as here, signifying a new level of equipment, performance and quality.
And we’ve been steering this top-spec, dual-motor AWD version of the pure-electric, five-door liftback IM5, priced and specified to challenge a rapidly expanding group of high-performance mid-size EV sedans now occupying local showrooms.
So, read on to see if this premium electric performer has what it takes to tempt you into a new option from the latest challenger brand to jump into the ever-intensifying, no-holds barred contest for your new-car dollars.
This latest update for the Polestar 2 is lovely, but driving the original is a reminder of how solid this car has always been if you overlook the inherent impracticalities of being an EV on a combustion-engine platform.
The fact you still get steady flow of over-the-air software updates bringing new features, plus you can now upgrade to the new Qualcomm processor chip, saving some coin and getting a second-hand model that’s a couple of years old isn’t a bad option at all.
Note: CarsGuide attended this event as a guest of the manufacturer, with meals provided.
The MG IM5 Performance is fast, comfortable, quiet and super refined. Putting some minor spec and active safety niggles to one side, it offers the features, tech and price to match it with its well-credentialled and already popular mid-size EV sedan competitors. Is there room for one more? We think there should be.
I’ve always been a fan of the Polestar 2’s exterior design and unlike many new cars it has aged like fine wine over the years. You need to remember the Polestar 2 dates back to 2016 when it was first revealed as a Volvo concept.
It still has clean lines, iconic lightning signatures, plus a tough stance that evokes just a touch of muscle car.
While it has taken me a while to come around to the new blanked-out grille insert, it suits the character of this car given it’s an EV. It also aligns with the wider Polestar design language.
For 2026 there haven’t been any major changes to the exterior. There’s a new sandy-like ‘Dune’ exterior paint colour replacing the silver ‘Jupiter’, plus a new 20-inch forged alloy wheel design for the Long range Dual motor Performance.
Inside, the Polestar 2 looks fundamentally the same as it did when it first launched, in the best and worst ways.
I appreciate how traditional car-like the layouts of the steering wheel, digital instrument cluster and touchscreen multimedia system are. Sure it doesn’t scream ultra high-tech anymore like some of its rivals, but there’s still an understated premium feel to it.
The same can be said for the rest of the Polestar 2’s interior. Everything feels purposeful in a minimalist way which helps make for a clean design.
Speaking of purposefulness, the optional Bowers and Wilkins sound system features a prominent tweeter on top of the dashboard. It looks stunning and is functional, helping to create an incredibly punchy and full sound stage in the cabin.
One of the few finishes I dislike in the interior is the glossy piano black on the steering wheel buttons. You interact with these frequently and it doesn’t take long for fingerprints to present themselves.
There’s now a new synthetic leather upholstery finish for those who opt for the $4700 Plus package. It’s quilted which helps emulate a premium puffer jacket-like look.
Although it’s expensive, the $4400 ‘Bridge of Weir’ Nappa leather upholstery is beautiful and required if you want ventilated front seats. You can only get black and white finishes, which is fine, but bringing back a tan or caramel option would be delicious.
Playing spot the straight line on the outside of the MG IM5 is like an automotive design version of Where’s Wally? There aren’t many, in the midst of an unrelentingly curvaceous exterior treatment.
At close to five metres long and two metres wide the IM5 is appreciably longer (+211mm), a little wider (+27mm) and a bit taller (+33mm) than a Tesla Model 3. Think BMW 5 Series in terms of overall size.
And the soft-form shape is functional; the swoopy liftback boasting an ultra-slick 0.24 drag coefficient.
That said, I’m not convinced by the ‘Periscopic’ cameras informing the driver assistance systems from the front guards. They scream tacked-on afterthought. But a touch-only initial opening function for the flush door handles is cool and makes life easier.
The curves continue inside with soft-padded surfaces around the dash and doors, but the straight edge obviously came out for the 10.5-inch central media screen and vast 26.3-inch upper display. There are next to no buttons; even exterior mirror adjustment is directed from the screen to a multi-function steering wheel control.
System software (powered by a Qualcomm ‘Snapdragon’ chip) is lightning fast with a two-finger up and down swipe shortcut function on the central screen for ventilation and other functions.
The interior is light and bright thanks to the enormous panoramic sunroof. It’s been fine in cooler winter conditions during this test but it could be interesting to revisit in the heat of an Aussie summer
There are two interior colour schemes available - the ‘Highland Grey’ of our test car or ‘Dover Beige’ for those brave enough to live life with the threat of scuff marks on your shiny new car’s glamorous but vulnerably light interior.
This has always been the downfall of Polestar 2 and it remains true.
While it’s pretty and has a cockpit-like design, the cabin can feel compromised in terms of space and storage. This is primarily due to the centre console which angles upwards sharply, aggressively segmenting the driver and front passenger space.
The only storage spots on the centre console include a shallow shelf under the centre console, a wireless phone charger and another uncovered storage nook under the touchscreen.
It doesn’t help that the cupholder situation doesn’t allow for a proper centre armrest. You either have no cupholders and an armrest, one cupholder and your arm barely reaches the armrest, or two cupholders and the centre armrest flops into the backseat space. It’s not ideal.
Gripes aside, there are still positives to the Polestar 2’s front row. The seats are comfortable on longer drives and allow for a large degree of electric adjustment.
Ahead of the driver the steering wheel thankfully has physical buttons, allowing for easy use on the move. I also love how satisfying the indicator stalk thwack is. It’s the little things that count.
The digital instrument cluster has a minimalist look and can be customised with a few layouts. I particularly like the Google Maps layout which shows your navigation when using the in-built app.
Moving across, the Google Built-in software for the multimedia system is still up there as one of the most usable out there currently. It’s easy to navigate, plus if you get lost there’s a convenient home button at the bottom of the screen.
Both screens are now driven by a more powerful Qualcomm processor chip which allows for better responsiveness, smoother performance and higher download speeds for in-car apps.
Although we didn’t get a huge opportunity to stress test this new chip, it’s definitely an improvement on the old one. You can technically upgrade your old Polestar 2’s chip through a Polestar service centre, though it conveniently doesn’t list how much this costs.
While physical switchgear is limited, there’s still enough to get by. Over the years I’ve grown accustomed to using the touchscreen to change the climate control, though some physical dials and buttons would be nice.
Apple CarPlay and Android Auto are available in wired form only, which is surprising as wireless smartphone mirroring is now commonplace. It does mean however that your phone will charge up reliably.
Moving to the second row, it’s arguably where the Polestar 2 is at its worst. At a leggy 182cm I do fit behind my driving position but headroom is tight.
It doesn’t help that there’s a huge transmission tunnel which technically isn’t needed given this car is fully electric. That’s a downside of using a combustion-engine platform.
Second-row amenities include air vents, two USB-C ports, as well as a fold-down armrest with cupholders. Heated outboard seats are optional.
At the back the button to pop the boot is down where the number plate is. It’s not overtly obvious unless you know where to look.
As standard the tailgate is manually operated and you need to get the $4700 Plus pack in order to get it electrically operated. It also gets a hands-free function which is handy if you’ve got your hands full with bags.
Boot space is 407L with the rear seats upright, expanding to 1097L with them folded. This includes a 43L underfloor section which is large enough for some cables. The boot size is fairly standard for a vehicle of this size and type.
There’s also a 41L front boot which can be used for further cable storage or other various storage needs.
There’s plenty of breathing room up front and in terms of storage one of the first things worth calling out are the long but relatively narrow door bins. No good for anything above unusually slender bottles, even if they’re lying down.
No conventional glove box in the dash, but there is a large lidded box (cooled and heated) between the seats that doubles as a centre armrest. It’s supplemented by a big stowage area underneath the flying buttress style centre console.
There are two cupholders in the centre console as well as a wireless device charging pad in front of them with a vaguely phone-shaped oddments bin alongside it.
Move to the rear and the IM5’s 75mm wheelbase advantage over the Tesla Model 3 is clear. Heaps of knee and headroom for me at 183cm sitting behind the driver’s seat set to my position.
But… the seat sits low which pushes your knees up into the air to the point where my thighs are not contacting the seat cushion. Even though the rear seat reclines to a certain degree it’s a problem compounded by a chronic lack of room for your toes under the front seat. Awkward.
There are map pockets in the front seatbacks, modest bins in the doors and a fold-down centre armrest with two cupholders. Adjustable ventilation in the rear of the front centre console always makes life in the rear seat more pleasant.
The car also houses ‘Strong Magnets’ at various points around the cabin and boot, with a configurable adapter able to lock a phone or tablet into place for the entertainment of, in our case, back seaters.
Speaking of devices for entertainment, there are two USB-C sockets and a 12-volt outlet in the front and another USB-C and 12V in the back, so charging isn’t an issue.
The IM5 is a liftback so the boot aperture is generous and a capacity of 457 litres with the rear seats up is decent for a car of this size, although that’s less than the Tesla Model 3 (594L) which has an additional well under the floor.
Still, enough room for the largest (124L) and smallest (36L) suitcases from the CarsGuide three-piece luggage set with some room to spare.
The power tailgate can be operated hands-free via the key or an always welcome under bumper kick function.
Volume expands to 1290 litres with the rear seats folded and there’s a modest 18-litre ‘frunk’ under the bonnet.
The bad news is a repair-inflator kit rather than a physical spare wheel, but the better news is the IM5 Performance can tow a 1500kg braked trailer (750kg unbraked).
The IM range also features the ‘MG iSmart’ app allowing remote control of various functions including charging, checking vehicle location and route planning.
The 2026 Polestar 2 starts at $62,400, before on-road costs, for the Standard range Single motor and extends all the way to $85,080, before on-road costs, for the Long range Dual motor with the Plus and Performance packages.
This is more expensive than the similarly premium-pushing Tesla Model 3 ($54,990 to $80,900, before on-roads), as well as the more budget-oriented BYD Seal ($46,990 to $61,990, before on-roads).
Despite this, Polestar currently has some major deals and offers on new 2026 Polestar 2 stock to the tune of up to $13,000 off the drive-away price. This can see you drive away in a brand-new model for as little as $55,763, drive-away, in Victoria, which is around $5000 less than a base Model 3 RWD.
There’s a catch though… options. There is a slew of option packages and singular options available and they add up quickly.
Most notable is the new $3500 14-speaker Bowers & Wilkins sound system that must be bought in conjunction with the 'Plus package' which is $4700 on all trims besides the Long range Dual motor as it’s already standard.
Annoyingly, a heat pump is part of the $1500 'Climate package' which also brings heated rear seats, a heated steering wheel and heated wiper nozzles. So many carmakers now include heat pumps as standard fare in EVs as they help reduce energy consumption during colder months.
Beyond this, there’s a standard base of equipment which is fine for the price point. Highlights include LED headlights, a 12.3-inch digital instrument cluster, 11.2-inch touchscreen multimedia system, wired Apple CarPlay and Android Auto, wireless charger, dual-zone climate control and heated front seats with electric adjustment.
At $80,990, drive-away, the IM5 Performance sits at the top of a three-grade line-up that starts with a 75kWh RWD Premium model at $60,990, followed by a mid-spec 100kWh RWD Platinum for $69,990, both drive-away.
Its most prominent competitor is arguably the Tesla Model 3 Dual Motor AWD ($80,900), with others including the BYD Seal Performance AWD ($68,798), Hyundai Ioniq 6 AWD Epiq ($86,500) and Polestar 2 Long Range Dual Motor Performance ($80,380).
Worth noting, too, the IM6 range - essentially the same car with a taller SUV body - has the same model walk-up and identical pricing.
Once you’ve crossed the $80K threshold it’s fair to expect a decent basket of standard fruit and aside from the dynamic and safety features we’ll get to shortly, the IM5 Performance comes to the party.
Highlights include a double-glazed panoramic roof, power-adjustable (12-way driver, six-way passenger) heated and ventilated front seats (also heated in the rear), dual-zone climate control, 20-speaker audio (with digital radio), 256 colour ambient lighting, a power tailgate (with hands-free function) and 20-inch alloy rims.
There’s also adaptive cruise control, a heated steering wheel, wireless Android Auto and Apple CarPlay, LED headlights, keyless entry and start, wireless device charging (50W), a 10.5-inch central control screen and a sweeping 26.3-inch upper screen; the right side for instrumentation and car data, the (touch-sensitive) left side for multimedia and other onboard functions.
There’s more and it’s clear this car at least matches or betters its direct competitors for included equipment.
No changes have been made to the Polestar 2’s electric motor set-up for 2026.
Both the single-motor versions have been rear-wheel drive now for a few years and produce either 200kW or 220kW, depending on the battery pack.
The Long range Dual motor adds a front-mounted electric motor bringing total system outputs to 310kW and 740Nm. It’s capable of doing the 0-100km/h sprint in 4.5 seconds.
The $8980 Performance pack (available only on the Long range Dual motor) bumps the total system power output to 350kW. It also reduces the 0-100km/h sprint to 4.2 seconds.
The MG IM5 Performance is powered by an electric motor on each axle - the rear (372kW/500Nm) more powerful than the front (200kW/300Nm), for overall outputs of 572kW (that’s close to 770hp) and 802Nm of pulling power.
The official term for that amount of grunt is… a lot. And we’ll get to what it means on the road in the Driving section shortly.
Although we didn’t get to drive it at this media launch, the entry-level Polestar 2 Standard range Single motor has arguably received the biggest refresh of the line-up with this MY26 update.
It now has a slightly larger 70kWh lithium-ion battery pack sourced from CATL, replacing the LG Chem-sourced 69kWh lithium-ion battery. As a result there’s 554km of WLTP-claimed range with up to 554km (up from 546km).
Long range versions still have a CATL-sourced 82kWh lithium-ion battery with between 568km and 659km of WLTP-claimed range, depending on the variant. This is good but Tesla has moved the game forward with its Model 3 Long Range RWD which offers up to 750km of range.
We didn’t get a chance to fully test out energy consumption during this media event, but Polestar claims between 14.8kWh/100km and 17.2kWh/100km, depending on the variant. This is much better than when the Polestar 2 first launched.
While the maximum AC charging rate remains at 11kW across the line-up, the Standard range versions can now DC fast-charge at rates up to 180kW (up from 135kW). This means a 10 to 80 per cent charge can now take as little as 26 minutes.
Maximum DC fast-charging for Long range versions is still up to 205kW, allowing a 10 to 80 per cent charge in 28 minutes. Lots of newer rivals offer faster charging now.
The MG IM5 Performance features an 800-volt electrical architecture which means the 100kWh NCM battery can accept a DC peak charge of close to 400kW.
Only snag is the highest you’ll currently find in Australia is 350kW. But even at that rate you’ll still be looking at a 30-80 per cent charge in just over 15 minutes. Maximum AC charge rate is 11kW.
Claimed range is 575km (WLTP) which is less than the Tesla Model 3 Dual Motor AWD at 629km.
Over a week of city, suburban and some freeway running we saw average energy use of 20.6kWh/100km which is on the high side for an EV of this size but maybe not for one with this kind of performance potential.
While outright practicality isn’t the Polestar 2’s strong suit, once you get on the road this melts away almost instantly.
This EV is and has always been a driver’s car that’s engaging and rewarding to steer. It’s a shame that many people’s first experience with it was likely in the second row as a rideshare with a driver that has a bad case of taxi foot.
Surprisingly, during the media launch drive program we had the opportunity to sample the original MY22 Long range Single motor and compare it back-to-back to the MY26 models. It’s rare this kind of thing happen.
This is notable because single-motor versions made the switch from front- to rear-wheel drive back in 2024.
While the MY22 example feels like a bulldog yet still capable of carving up corners, it holds up well if you ignore the odd cabin rattle and creak. You can also feel a marked difference with how the rear guides the latest MY26 Long range Single motor instead of the front when pushed.
This isn’t apparent in calmer, everyday driving situations. If you’re not a car person you likely wouldn’t be able to tell the difference.
The rear-mounted electric motor produces an adequate amount of oomph, allowing you to get up to speed with ease. Like all EVs you get snappy acceleration from a standstill, which is thrilling.
This is dialled up to 11 in the Long range Dual motor Performance. Although the Model 3 Performance is technically faster, it still feels like this Polestar 2 is quick enough.
In the fully loaded all-wheel drive trim you’re able to carve corners enthusiastically. It’s incredibly confidence-inspiring to chuck into corners as there’s grip for days and a bucketload of power to back it up.
Although the regenerative braking system is pretty powerful already, the Performance pack adds chunky Brembo physical brakes for added peace of mind. Perhaps Tesla could take note of this?
The aforementioned Performance pack also adds manually adjustable Öhlins dampers with a ‘Polestar Engineered’ performance chassis. It’s an incredible package with a dialled-in feel, though if you want to adjust the dampers you need to jack up the car.
If you’re not keen on outright performance, the regular Polestar 2’s suspension set-up still holds its own but has an added level of all-around comfort. It’s an improvement from the original which was a little too firm.
Across the line-up the steering is direct and makes this car feel nimble regardless of where or how you’re driving. You’re able to select from different steering feels which increase or decrease the resistance.
Given EVs have no engine noise, they can sometimes have more noticeable road and wind noise out on the open road. Thankfully the Polestar 2’s cabin is quiet enough, that is unless you’re driving on coarse-chip roads.
First things first, the IM5 Performance is supercar fast. This 2.3-tonne five-seater blazes from 0-100km/h 3.2 seconds and with its dual motors combining to produce 572kW/802Nm, eye-widening performance always resides underneath your right foot.
But it’s not all about straight line speed. Ride comfort is excellent. Underpinned by an all-new platform, the IM5’s suspension is by double wishbones at the front and multi-links at the rear. But the key to its bump and rut smoothing ability is air suspension and ‘continuous control’ active damping.
Fold in double-glazing on the full-length glass roof and side windows, as well as active noise cancellation and you have a serene interior environment at any speed. Also worth noting the front seats are great; as grippy as they are comfortable.
Not only that, despite its relative heft, this mid-sizer steers well, too. Not the last word in road feel but it points accurately and the standard rear steering helps with prompt (but never jerky) cornering turn-in. Flick to ‘Sport’ mode and the IM5 is up for some enthusiastic running.
The rear wheels can turn up to 12 degrees in the opposite direction to the fronts at slow speed, which makes for a usefully tight 10-metre turning circle. But above that, at lesser angles, it adds extra stability and decisiveness in the way the car steers through even tight, twisty sections.
Rubber is top-shelf Pirelli P Zeros on 20-inch alloys (245/40 fr - 275/35 rr) and it grips hard, especially in the wet weather over much of the test period. Braking is solid, as it needs to be, with ventilated discs all around and four-piston callipers at the front.
No adjustable regen braking but you can feel the ‘Cooperative Regenerative Brake System’ (CRBS) doing its thing when you lift off the accelerator.
The physical rear view is modest thanks to the slope of the back window reducing its functional area for the driver to that of a 1950s VW Beetle. Even the interior rear-view mirror is tiny and folds up into a recess in the headliner if you’d prefer life without it.
But that’s where a rear camera view popping up on the upper screen display (accessed via the right-hand steering wheel click control) comes in handy. Side camera views are also available as is a 360-degree overhead view, which makes parking straightforward.
If you need more parking help there are various self-parking modes including a nifty ‘Curbside’ function that will realign the car hands-free if you’re parallel parked too far out from the kerb.
In a similar vein, a ‘Rainy Night’ mode projects left and right rear views onto the main screen using AI to enhance clarity and highlight pedestrians and cars.
Overall the ADAS (Advanced Driver Assistance Systems) are relatively unobtrusive but we found ourselves switching off the incessant overspeed chime that sounds for 10 seconds if you creep over the indicated speed limit, even when the system has misfired on the correct speed. For example, 40km/h school zones on a Sunday.
The over-zealous driver distraction warning also occasionally issued a visual and audible slap on the wrist when I was looking straight ahead. Tellingly, there’s a specific quick screen for turning both these functions off, but it kinda defeats the purpose of having them in the first place.
We also found the adaptive cruise control to be hesitant in multi-lane environments, reducing speed occasionally because the system seemingly believed a car was set to merge, when it wasn’t.
The Polestar 2 received a maximum five-star ANCAP safety rating based on testing conducted in 2021.
Standard safety equipment includes eight airbags, autonomous emergency braking (AEB), blind-spot monitoring, rear cross-traffic alert, adaptive cruise control, lane-keep assist, lane centering, front and rear parking sensors as well as a surround-view camera system.
This amount of safety tech is pretty standard fare now, but I particularly like how well they are tuned. It’s more noticeable in a world where new cars from new carmakers continually chime at you even though you’re driving normally.
There are ISOFIX child seat anchorages on the two outboard rear seats, plus top-tether points on all three rear seats.
No independent ANCAP safety assessment at this point but there’s a full suite of active safety tech onboard including AEB, lane departure warning, blind spot detection, rear cross-traffic alert & braking, forward collision warning, lane-change assist, tyre pressure monitoring and heaps more. And we touch on how it all operates in the Driving section above.
There are no less than nine HD cameras, 12 ultrasonic sensors and three millimetre-wave radars on duty.
If a crash is unavoidable there are seven airbags including full-length side curtains and a front centre bag. Multi-collision brake also minimises the chances of subsequent impacts after an initial crash. There are also three top tether points and three ISOFIX child seats anchors across the second row.
All right on the pace for this part of the market and the IM5’s competitive set.
The Polestar 2 is covered by a five-year, unlimited-kilometre warranty, whereas the high-voltage battery is covered by an eight-year, 160,000km warranty.
While this battery warranty length is standard, a five-year warranty is getting a little short now in the grand scheme of things as many brands are moving to seven-year warranties.
Owners also get five years' of roadside assistance which can be accessed by pressing the ‘Connect’ button on the overhead console. It’s available 24/7 and includes car recovery and alternative transport, if required.
Logbook servicing is required every 24 months or 30,000km, which is standard for EVs. At the time of writing Polestar Australia was finalising service pricing for the MY26 2 and we'll update this review as soon as we receive the details.
There are a total of 23 Polestar service centres around Australia, a number of them shared with Volvo.
The MG IM5 Performance is covered by a seven-year/unlimited km warranty, which is a plus, but the catch is it’s conditional on authorised dealer servicing. Go elsewhere and the term drops to a more common five years/unlimited km. The drive battery is covered for eight years/160,000km, which is the norm in the Aussie market
Servicing is required every 12 months or 20,000km with charges averaging $586 per workshop visit for the first five years, which is on the high side for an EV, even at this price point, the average bumped up by a more than $1400 doozy at year four.
MG IM models are sold (with service available) through all of MG’s 100-plus dealerships across the country, so no concerns there.