Polestar 3 is already on sale with a massive $7,500 purchase incentive for leases

Polestar’s first electric SUV, the Polestar 3, is expected to begin rolling out in the US in the next few months. Ahead of its debut, Polestar is already offering a massive $7,500 purchase incentive on a lease of the new electric SUV.

Polestar offers $7,500 discount on the 2024 Polestar 3

The Polestar 3 will join the Polestar 2 as the brand’s second all-electric model. Nearly 55,000 Polestar 2 sedans were sold last year, but the company expects its electric SUV to make an even bigger impact.

Although production was expected to begin in early 2023, Polestar pushed it back until the first quarter of this year. Polestar’s website suggests deliveries will begin in the second quarter.

Polestar calls the new EV an “SUV for the electric age.” You can see the brand’s signature Scandinavian touch with a minimalist design and powerful stance.

Riding on the same platform as the Volvo EX90, the Polestar 3 offers up to 300 miles EPA range. It’s available in two versions: Long Range and Long Range with Performance Pack. Both are powered by dual electric motors.

The base Long Range Dual Motor starts at $83,900 with up to 300 miles range. It includes active air suspension, sports seats, a 14.5″ center display, a 9″ driver display, and head-up display. Polestar partnered with Google to power the infotainment with Android Auto OS.

The added Performance pack will cost you $89,900. It includes 517 hp and 671 lb-ft of torque for a 0 to 60 mph sprint in 4.6 secs.

According to a memo viewed by online research firm CarsDirect, all 2024 Polestar 3 models now feature a $7,500 purchase discount, but for leases only.

The $7,500 “Polestar Clean Vehicle Incentive” is good through February 29th. Just days ago, the Polestar 3 had no discount offers other than the $7,500 EV lease incentive.

Polestar plans to build the electric SUV at Volvo’s plant in South Carolina. However, it’s unclear whether the Polestar 3 will gain the $7,500 in purchase incentives under federal EV tax credits.

The Polestar 2 is available through a new “flexible lease program” that enables you to end the lease after five months (and five payments). Starting at $349 per month, the program allows you to keep or terminate the lease after five months.

Polestar said it plans to extend the program to upcoming EVs, including the Polestar 3 and Polestar 4.