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Swedish eCar company plants retail flag in Cherry Creek

Polestar Space 002.jpg

Swedish electric vehicle company Polestar Monday opens its first retail store not on the coasts in Cherry Creek, hoping to capitalize on Coloradans’ thirst for sustainable transportation.

The location, dubbed Polestar Spaces, is at 257 Fillmore street and is the company’s fifth retail location. The other four are in California and New York.

“The Denver market has doubled up extremely quickly on EVs, judging by registration statistics and sales data,” Gregor Hembrough, head of Polestar’s North American operations, over a video call interview last week. “But that’s historical data. We want to be where the iron is hot.”

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And Denver is apparently going to get hot, judging by the 164% year-over-year increase in search engine traffic for “Polestar” or “Electric vehicles” from Coloradans, Hembrough said.

“Denver customers are on the forefront of the EV movement. We’ve also found that Colorado customers are very eco-friendly and sustainability oriented, so much so that a recent poll we conducted showed they’re willing to pay up to 51% more to get eco-friendly or sustainable. We see a maturity there, and future maturity when it comes to an EV infrastructure.”

The private company is 50 percent owned by Volvo, which has helped the brand gain quick traction, he said.

“I like to joke we’re a 94-year-old startup,” Hembrough said. “They have so much experience, know-how and ingenuity we tap into.”

The company was announced in 2017 and is on an ambitious growth plan, plotting to open 14 more showrooms before 2021 is out. It’s hoping to sell almost 10,000 cars this year, he said. Polestar looks to team with the local Volvo dealer in each location, so that means McDonald Automotive Group for Denver.

“Polestar’s approach to automotive retail will help define the future of automotive retail,” said Steve Powers, Vice President of Operations at McDonald Automotive Group, in a statement. “With more than 50 years of experience in automotive retail, we look forward to bringing this new ownership experience to the Denver-area.”

The company’s flagship car will be the Polestar 2. It’s described by company literature as “a premium five-door fastback with two electric motors and a 78 kWh battery capacity and an EPA range of 233 miles.” It’s base priced at $60,000.

Hembrough, without mentioning competing EV companies like Tesla, said: “I don’t think you will find a better car with an all-encompassing package like the Polestar 2. It comes from a car company that knows how to build a car, and doesn’t feel like an appliance with an engine on it.”

It’s got plenty of tech gadgets, like an “infotainment” system by Android, with voice commands by Google Assistant and Google maps. It’s also compatible with Apple devices.

The company offers a unique service model, he said. While many updates will come remotely, whenever the car needs service it will be picked up by a Polestar tech, taken for service, then returned – within 150 miles of Cherry Creek.

Asked if the company sought an economic incentives from the city or state, Hembrough said “we never even thought about it.”

“This is much more of a go-to market this car fits in,” he said. “That we’re prioritizing the Denver market speaks volumes to how we value the Colorado customer and are confident the car will be well-received.”



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