Volvo will release a competitor Tesla Model 3

The 2020 Kia Soul EV which is expected to be an affordable electric car

2020 Kia Soul EV

Tesla Inc has asked the Trump administration to exempt the Chinese-made auto computer "brain" of its new Model 3 sedan from 25 percent tariffs imposed in August, saying they threaten the electric carmaker's bottom line. The Polestar 2 is set to become serious competitor to Tesla's Model 3 sedan.

We expect to start hearing lots more about Polestar 2 in February, leading up to its formal debut at the annual Geneva Motor Show. That being said, we can decipher that the Polestar 2 will have a raked out rear windscreen that nearly leads into the boot.

While this is still around 10 km less than the Tesla Model 3 Long Range, it's 130 km more than the standard Model 3. Mercedes-Benz recently launched its own system, MBUX, on the new A-Class, and BMW's take on the technology will be found in the new 3-Series.

Few details are known about the Polestar 2, but it is expected to have a driving range of around 400 kilometres. The Polestar 2 will also come with the in-car version of Google Assistant. Google has a similar deal in place with the Renault-Nissan-Mitsubishi Alliance.

China to cut bank reserve requirement ratio
The government has also ramped up spending on infrastructure to rekindle sluggish demand and investment. The reduction is being made in two equal stages, effective January 15 and January 25, the PBOC said.

According to a statement, "The vehicle will go into production shortly after the long-range hybrid Polestar 1, which will enter production later this year".

Tesla may have burst onto the scene as something of a niche player with the original Roadster many years ago, but the success of the Model S unequivocally demonstrated that an electric vehicle could become a mainstream success. Volvo has already suggested that model will have a range in the vicinity of 250 miles and a starting price of $35,000 and $40,000. Additional information about the auto, though, won't be available for a couple more months.

Volvo's high-performance division, Polestar, is showing us something new.

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