The new Polestar 2 has been officially unveiled, billed by the Volvo-owned electric brand as the first electric car to compete with the Tesla Model 3.

Described as a five-door fastback, the Polestar 2 is driven by two electric motors powered by a 27-module battery pack.

The pack has been integrated into the floor where, the company claims, it enhances the rigidity of the chassis and reduces cabin noise – by as much as 3.7 dB over a conventional chassis.

Polestar believes the pack’s 78 kWh capacity will be able to offer not just a 500 km (310 miles) range, but also exhilarating performance.

With the all-wheel-drive powertrain producing 408 hp and 660 Nm of torque, the company suggests this will translate into a 0-62 mph time of around 4.7 seconds.

Chassis performance can be further enhanced with a Performance Pack that adds Ohlins dampers, Brembo brakes, 20-inch forged wheels, and gold seat-belts, brake calipers and valve caps.

The Polestar 2 will be Volvo Car Group’s first model to make use of a new Android-based technology package, with a range of Google services – including Google Assistant and Google Maps, optimised for electric vehicles – all accessed through an 11-inch touch-screen.

Volvo’s Phone-as-Key technology will be available, with the vehicle detecting the driver as they approach, configuring the vehicle to their tastes, and displaying a welcome sequence using the Pixel LED headlights.

The Polestar 2 will embark on a global roadshow throughout 2019 and, like other Polestars, will be available to order online.

For the first 12 months, the Polestar 2 will be offered in a launch edition priced at €59,900.  Subsequent models are expected to be available from €39,900 as well as via a subscription model.

Production of the Polestar 2 begins in China in 2020 and will launch initially in China, the US, Canada, Belgium, Germany, the Netherlands, Norway, Sweden and the UK.