Polestar has decided to kick Tesla while it’s down. The Scandinavian/Chinese automaker is offering steep discounts in an attempt to attract disgruntled Tesla customers looking for a better deal.
The news comes just days after an industry analyst predicted Tesla’s stock would plummet by more than 60% by the end of 2026. Elon Musk’s company is also awash with legal trouble including a wrongful death lawsuit related to the door handles used in its vehicles.
In recent months, Tesla has also been sued for apparently ripping off Blade Runner with one of its themed launches, and had to change the name of its “Autopilot” feature after California decided it was misleading to customers.
CEO Elon Musk has also stirred controversy in recent years. The current world’s richest man has found himself embroiled in scandal after scandal due to various political stances and controversial messages posted on social media.
While calling out the President of the United States for being in the Epstein Files is certainly a step up, Musk is historically no stranger to controversy. Previous scandals include getting into trouble with the STC for joking he was taking SpaceX public at a price of $4.20 a share while apparently high on the Joe Rogan podcast, and calling a man who rescued a number of Thai schoolchildren from a flooded cave a “pedo guy.”
So lawsuits and controversy are unlikely to take Tesla down. But what is fellow EV manufacturer Polestar doing?
Here’s what Polestar is offering Tesla customers
In a bid to lure Tesla customers in, Polestar is offering a frankly massive $21,000 off the Polestar 3. The incentive is a combination of the aptly named $3,000 “Tesla Conquest Bonus” along with several other incentives. The Polestar 4 is also deeply discounted for current Tesla owners, with up to $12,000 being slashed off the electric coupe’s MSRP.
The catch is you, or at least one person in your household, has to have bought or currently be leasing a Tesla. Presumably the lease or vehicle registration, along with some ID, will have to be shown to the Polestar dealer before you can get the bonus applied.
For non-Tesla owners, less generous but still solid offers are still available from Polestar. They can nab the Polestar 3 for $18,000 less than MSRP or the Polestar 4 with a $10,000 discount. This essentially seems to be the same combination of offers Tesla owners are getting, less the “Tesla Conquest Bonus.”
As for how to get the ball rolling, Polestar’s website says you should contact your local dealership for details. Exact incentives may also vary by state, with places like Colorado still having some of the most tempting EV offers in the US, while other states may be a little less friendly towards electric vehicles. The offer is only available for a limited time too, with Polestar saying it ends on April 30.
This isn’t the first time Polestar has run this kind of offer, and the company doesn’t post specific data around sales to ex Tesla owners at this time. But given the growing animosity towards Elon Musk from a not insignificant portion of the Tesla customer base, this could be an ideal time for other EV manufacturers to capitalize.
