Polestar 2 to debut in Geneva with 400 hp, 350-mile range

The Model 3 rival is expected to have a starting price around $40,000.

Polestar's Model 3 rival, known as the Polestar 2, has been confirmed to land in showrooms next year with a price tag around $40,000.

Speaking to Autocar at the Goodwood Festival of Speed, Polestar COO Jonathan Goodman promised the car will have up to 400 horsepower and a range of up to 350 miles.

"That will represent the lower ‘bookend' of our showroom range and, for now, it should give us as much access to the volume end of the EV market as we need," he said.

Polestar believes the global EV market was worth four million units in 2017 but will grow to 29 million units by 2025. The company expects most of the volume to come from mainstream models, not cars with bold EV-specific styling.

"If we're looking at a market worth 30 million cars within seven years, it isn't going to be niche, it's going to be mainstream," Goodman added. "So you just design a great-looking car - not one with a big blue flash down the side."

The Polestar 2 is expected to closely follow Volvo's 40.2 concept (pictured) that was revealed last year.