Volvo now has its own Tesla competitor, the Polestar 2. The electric vehicle was unveiled Wednesday and will directly compete with Tesla’s Model 3.
Polestar is an electric car brand that was spun off from Volvo in 2017. The company announced late last year to make the Polestar 1, its plug-in hybrid sports car, available in the United States toward the end of 2019.
The base price for the Polestar 2 will be 40,000 euros, around $45,000, CNN reports. That puts it on par with the pricing for Tesla’s comparable Model 3.
The vehicle will have an expected range of 275 miles on a full battery, and owners’ phones will be able to work similarly to a key fob to unlock and start the vehicle. Polestar will also offer an optional “Pilot Package” for the vehicles that will include driving assistance features such as land assist and self-parking.
Production for the Polestar 2 will start in early 2020 in China.
Customers will eventually be able to purchase the car outright exclusively through the company’s website, but the company will be promoting a subscription plan for it as well that will allow customers to purchase the car and insurance for a single monthly payment.