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 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.

The Polestar 7 will take on premium compact SUVs like the Porsche Macan. This means the new model will be a stylish, compact, and slightly elevated vehicle joining an extremely competitive segment. While we don't have specific technical details of the upcoming Polestar 7, we are expecting a lot from this new player in the EV game.

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.

Details are light but, given Polestar’s place within the wider Geely group and the expected size of this new model, it’s likely the Polestar 7 will share a lot with the Volvo EX30 and Smart #1 and use the SEA2 platform. That allows rear and all-wheel drive models with high power outputs and fast charging speeds.

Scandi EV brand Polestar has confirmed it will be launching a premium compact SUV EV, joining the fastest growing and most profitable market segment.

The Polestar 7 will be an all-new compact luxury electric SUV, born and built in Europe to take on German rivals.

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,