Polestar's Idea for the Car Industry: Sell Cheat Codes | Barron's

2022-12-09 01:56:51 By : Ms. ivy ivy

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Polestar's Idea for the Car Industry: Sell Cheat Codes  | Barron's

The entire auto industry is trying to generate more revenue from things besides just selling cars. They want to sell charging services, insurance, and self-driving tech. Nothing is off the table. Polestar Automotive has another idea: Get customers to pay for cheat codes.

On Tuesday, electric-vehicle maker Polestar (ticker: PSNY), offered drivers of its long-range, dual-motor Polestar 2 sedan the ability to make the car go faster, adding 68 horsepower. All owners have to do is pay about $1,200 for a software update. It feels a little like buying a so-called cheat code in a videogame—paying a fee to unlock a hidden feature.

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The entire auto industry is trying to generate more revenue from things besides just selling cars.

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Polestar's Idea for the Car Industry: Sell Cheat Codes  | Barron's

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