Former boss Ingenlath said the 7 was due to arrive in 2027, but Lochscheller gave no details on its intended launch date during his presentation.
Polestar is also aiming to have a positive free cash flow by 2027.
Notably, Polestar will eventually move all of its models onto a single vehicle architecture, which it says will reduce “complexity, costs and investments”.
It’s unclear whether Polestar will develop a bespoke new platform or use existing platforms. The 2 uses Geely and Volvo’s CMA platform (also used by the Volvo EX40), the 3 shares the SPA2 platform with the Volvo EX90 and the 4 uses a version of Geely’s SEA architecture. The 5 and 6 are also tipped to use variants of the highly flexible SEA, suggesting it’s the most likely candidate to be the focus of Polestar’s future line-up.
Lohscheller said: “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.”
The firm is also speeding up its retail expansion, with the goal to increase its number of showrooms (‘Spaces’) by 75% by the end of next year, expanding to 130 locations in Europe and 57 in North America. Lochscheller said that Polestar’s emphasis will also shift from a ‘storytelling’ to help customers learn about the brand to active selling.
Polestar is also set to start selling cars in France, where its launch was delayed by a dispute with Citroën over its logo design.
Adding a European manufacturing presence will also help Polestar to expand the base of its ‘asset-light’ business model. Originally it made cars exclusively in China, but the 3 is now built alongside the Volvo EX90 in the US and the firm has a production presence in South Korea.
Polestar is also aiming to capitalise on its EV-only line-up by selling CO2 credits to other manufacturers that are striuggling to hit their European Union emissions targets – a tactic that has proven highly profitable for EV-only firms such as Tesla. Lochscheller said that he anticipated that to be worth “triple digit millions” in revenue.