Polestar may be facing a possible ban in the US, but the Sweden-by-way-of-China manufacturer isn’t going to let that stop it from releasing new products. The company provided a business update on Thursday,

The Polestar 5 is expected to have a staggering 884 horsepower and 664 pound-feet of torque , enough to keep pace with the Porsche Panamera. Inside, this car will feature components reinforced with sustainable flax fibers and some of the upholstery will be made from recycled PET plastic.

Polestar (Nasdaq: PSNY) today presents an updated strategy, as the Company starts its next chapter, with significant changes being made to improve operational, commercial and financial performance.

It'll be the brand’s first vehicle built on the Old Continent, as governments put pressure on Chinese auto production.

The automaker didn't provide any updates this time around, but in 2022 it confirmed the Polestar 6 roadster for production in 2026. The timing was still in effect last July, when Polestar showed the Concept BST, which hinted at a spicier version of the convertible sports car.

Polestar continues to expand its lineup, which recently added the Polestar 3 SUV and the Polestar 4. Polestar has announced that it will introduce another new SUV later this decade, called the Polestar 7.

Swedish electric performance brand Polestar made several major announcements on Thursday, including confirmation that its next model, the Polestar 5 sedan, will arrive in 2025 and that its previously announced Polestar 7 model will be a small SUV.

Polestar targets a 30-35% sales growth and profitability in 2025, launching the premium compact SUV Polestar 7 in Europe.

Polestar has announced a revised strategy aimed at enhancing its operational, commercial, and financial performance as it enters a new phase of development. The updated business plan projects a compound annual growth rate in retail sales volume of 30-35% from 2025 to 2027,

Polestar will add an electric four-door grand tourer to its lineup later this year, before expanding with another compact SUV later this decade.