Polestar may be facing a possible ban in the US, but the Sweden-by-way-of-China manufacturer isn’t going to let that stop it from releasing new products. The company provided a business update on Thursday,

The Polestar 5 is expected to have a staggering 884 horsepower and 664 pound-feet of torque , enough to keep pace with the Porsche Panamera. Inside, this car will feature components reinforced with sustainable flax fibers and some of the upholstery will be made from recycled PET plastic.

It'll be the brand’s first vehicle built on the Old Continent, as governments put pressure on Chinese auto production.

Swedish electric performance brand Polestar made several major announcements on Thursday, including confirmation that its next model, the Polestar 5 sedan, will arrive in 2025 and that its previously announced Polestar 7 model will be a small SUV.

Polestar (Nasdaq: PSNY) today presents an updated strategy, as the Company starts its next chapter, with significant changes being made to improve operational, commercial and financial performance.

The automaker didn't provide any updates this time around, but in 2022 it confirmed the Polestar 6 roadster for production in 2026. The timing was still in effect last July, when Polestar showed the Concept BST, which hinted at a spicier version of the convertible sports car.

Polestar will add an electric four-door grand tourer to its lineup later this year, before expanding with another compact SUV later this decade.

Polestar has revealed plans for its upcoming model, the Polestar 7, as part of an updated business strategy aimed at improving operational and financial performance. The Polestar 7 will be a premium compact SUV targeting a high-growth segment of the automotive market.