The Polestar 2 electric performance car from Volvo Polestar

Electric performance brand Polestar unveiled its first fully electric vehicle on Wednesday in a bid to steal buyers away from Tesla's Model 3. The car is the first volume model from Volvo's former performance sub-brand, which was spun out in 2017 to be a high-end electric vehicle brand. "The buzz around the Tesla Model 3 showed where electric mobility is relevant for society today," said Polestar CEO Thomas Ingenlath at a launch event Wednesday. "And with Polestar 2 we bring an exciting premium electric car that will broaden the choice on offer in exactly this segment."

The Polestar 2 electric performance car Polestar

The Polestar 2 is the first electric car to compete with the Tesla Model 3, with a starting price of 39,900 euros ($45,400), the company said. There will also be a launch edition made during the vehicle's first 12 months of production that starts at 59,900 euros ($68,200).

The interior of the Polestar 2 electric performance car from Volvo Polestar