Polestar’s ‘Trade In Your Tesla’ $20,000 Deal Is Already A Hit

• Polestar wants to snag Tesla defectors. 
• The EV maker launched a $5,000 discount for Tesla owners who lease a Polestar 3. 
• The brand’s head of U.S. sales said Polestar 3 orders jumped the week that deal ran.

Electric-vehicle maker Polestar wants to capitalize on growing discontent around Tesla. Apparently, it’s working. 

Last week, Polestar announced a special $5,000 discount for Tesla drivers looking to lease the company’s new Polestar 3 crossover. With that deal and another $15,000 of incentives to lessees, Tesla owners could get a $20,000 lease discount to become ex-Tesla owners. 

On Friday, the brand’s U.S. head of sales said in a LinkedIn post: “This week saw some of the highest order days for Polestar 3, and the response to our Tesla Conquest Offer has been incredible.”

We’ve reached out to Polestar for specifics around the numbers and the Tesla deal, which ran from Feb. 21 to Feb. 28, and we’ll update this story if we hear back. To be clear, not everybody who took the deal necessarily traded in their Tesla. They merely had to prove their household currently owned or leased a Tesla. Regardless, it’s not hard to believe that more than a few Tesla owners took Polestar up on the offer.

First off, who doesn’t want an extra $5,000 off of a lease for a cool EV that’s already discounted by $15,000? Moreover, the bad vibes emanating from the Tesla brand are more palpable than ever. 

Tesla CEO Elon Musk’s brutal cost-cutting efforts in Washington have sparked protests at Tesla stores and, in many circles, have made owning or buying a Tesla simply a bad look. 

Tesla was always bound to lose market share in the EV space as an increasing variety of strong competitors ramped up production. Musk’s quarter-billion-dollar bet to get President Donald Trump elected and controversial role in government may just accelerate that trend.

The Polestar 3 may be shaping up to be a strong alternative. It’s more upscale than a Model Y, but cheaper than the aging Model X. Its 111 kWh battery delivers 279 miles of range in Dual-Motor Performance Pack spec, 315 miles of range in Long-Range Dual-Motor spec, and a very impressive 350 miles of range in the new Long Range Single-Motor trim. As Polestar’s CEO recently told us, it could be one of the few truly software-defined vehicles in the U.S.—along with Tesla and Rivian—thanks to its smartphone app integration and over-the-air updates.  

And now that Tesla is far from the only game in town, rivals like Polestar will be there to pick up the pieces. 

Contact the author: Tim.Levin@InsideEVs.com