Tesla Is Dying, And Polestar Wants To Kill It
The industry is exorcising Musk.
Musk is killing Tesla. His lack of integrity, lack of internal consistency, and deeply fascistic leanings are now on full display for the world to see. And the world has responded by violently throwing up in their mouths. Tesla sales in the EU are down 45%, despite the EV market growing 37%. Tesla’s share price has plummeted by 41%, wiping hundreds of billions of dollars from its value. There are no signs that this will end, and JP Morgan is predicting that Tesla’s shares will lose 66% of their value by the end of the year. In fact, Tesla is selling so few vehicles that they are risking their lucrative regulatory emissions credit business, responsible for 30% of their total income! But if Musk is killing Tesla, Polestar wants to deliver the final blow. They are offering Tesla drivers a $20,000 discount for a new Polestar if they trade in their “swasticars.”
Yep, Polestar is offering anyone who owns or leases a Tesla $5,000 off a lease on a brand new Polestar 3. Combined with their latest $15,000 Polestar Clean Vehicle Incentive, any Tesla driver can buy a Polestar 3 for a whopping $20,000 off.
So, is that a good deal?
Well, take the Long Range Dual Motor variation of the Polestar 3. This gorgeous EV has a massive 111 kWh battery that gives it a WLTP range of 392 miles and can charge from 10% to 80% in only 32 minutes. It’s also no slouch, able to zip from 0 to 62 mph in just 5 seconds, and reviewers have highlighted that it handles and rides far better than anything Tesla has produced. On top of all of that, it’s super practical, with over 500 litres of cargo space and a massive 2,200 kg (4,850 lbs) towing capacity. Normally, this car retails for $79,400 and is pitched to compete against the new electric Porsche Macan and the Audi A6 Avant e-Tron Performance. In other words, it’s pretty damn premium. But, with Polestar’s incentives, it costs just $59,400 (when leased and a Tesla is traded in).
That is a few hundred dollars less than the brand-new Model Y with the terrible Cybertruck-esque facelift. It only has a 78.1 kWh battery, giving it a 353-mile WLTP range. It can charge from 10% to 80% slightly faster in just 27 minutes, but the range added in that time is less than the Polestar 3. It is somewhat faster with a 4.8-second 0–62 mph, but it reportedly handles much worse, and its ride is more choppy, so in the real world, it won’t be faster. It has slightly more cargo space than the Polestar but a smaller towing capacity of 1,600 kg (3,527 lbs).
So, they seem like close competitors, right? Well, no. The interior, technology, and reliability of the Polestar are in an entirely different league. It is a premium car, and the Tesla now feels more budget than modern budget cars. Not to mention that Tesla has a palpable brand association with Nazis, meaning that even if the EV specs were identical, the Polestar would still utterly dump on the Tesla. For the Model Y to compete with the Polestar 3, it has to dramatically cut its price, which will make Tesla’s sales, cash flow, and stock price issues so much worse.
So, if Musk has taken Tesla out the back to shoot it in the head, Polestar is pulling the trigger.
And it isn’t just Polestar doing this. Take Jaguar’s reinvention; it seemed a little silly at the time, but doesn’t it look attractive now? Buying a new electric Jaguar (when they come out) will be a perfect middle finger to the DEI-destroying Musk. Or what about Hyundai/Kia, BYD, MG, Renault, BMW, VW/Audi/Škoda, Rivian, XPeng, and others who are all slashing prices and launching new, high-quality EVs with better specs than Tesla?
The industry has seen where Tesla is going and is moving to cut its head off. And good — it’s time for Tesla to die. It was once a beacon of hope, but now it is a broken poison chalice.
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Sources: Politico, Motley Fool, Inside EVs, Will Lockett, Will Lockett, DGB, EV Database, EV Databse, Polestar, Tesla, Teslarati