Polestar Automotive (NASDAQ: PSNY) will premiere its first SUV, the Polestar 3, at a launch event on October 12, 2022 in Copenhagen, Denmark.

The company says that the Polestar 3 model is a powerful, design-led electric performance SUV built on a new all-electric technology base developed by and shared with Volvo Cars.

The Polestar 3 features a rear-biased dual motor powertrain with electric torque vectoring via a dual clutch system on the rear electric motor. This is met with adaptive dual-chamber air suspension and active dampers that come standard, allowing the Polestar 3 SUV model to switch between comfort and firm suspension dynamics while adjusting dampers to suit road conditions once every two milliseconds.

Thomas Ingenlath, Polestar CEO stated: "It's this instant ability to transform from a comfortable cruiser to a sharp, agile performance car in less than the blink of an eye that makes Polestar 3 special as an electric performance SUV. It also benefits from a low centre of gravity and wide track for ultimate stability, and an exciting feeling behind the wheel."

Founded by Volvo Car in 2017 and headquartered in Gothenburg, Sweden, Polestar Automotive is currently available and on the road in markets across Europe, North America, China and Asia Pacific.

Shares of Polestar Automotive trade on the NASDAQ under the ticker symbol PSNY.