Pricing for the new 2021 Polestar 2 from Volvo’s electrified/performance brand will begin at $69,900 and deliveries will begin in late summer.

The Polestar 2 is Volvo’s answer to the popular Tesla Model 3 and is the Swedish company’s first fully electric vehicle. The pricing for the compact electric fastback sedan doesn’t include any government incentives or other fees and taxes. A Performance Pack that includes Brembo brakes and adjustable dampers adds $6,000, a Nappa leather interior is an additional $5,000, 20-inch alloy wheels adds $1,200, and metallic paint will cost $1,200.

Besides those options, the Polestar 2 comes fully loaded with features like wireless phone charging, four USB ports, a Harman Kardon sound system, a tablet-like infotainment system that’s powered by Android, road sign recognition, adaptive cruise control, pilot assist, blind spot monitoring with active steering assist, cross traffic alert with automatic emergency braking, a top-down 360-degree camera, parking assists, collision mitigation, LED headlights, adaptive rear lights and front cornering lights, auto-dimming mirrors, a panoramic glass roof, heated windshield nozzles, and much more.

Volvo says the Polestar 2 can accelerate to 100 km/h in less than 4.7 seconds and has up to 442 kilometres of range on a full charge, which leads the pack and beats the base Model 3’s 402 km of range, but falls short of the Model 3 Performance’s claimed 518 km. The four-door has five seats and outputs 408 horsepower and 487 pound-feet of torque via an electric motor on each axle, which also enables all-wheel drive.

Reservation holders will be the first to get their 2021 Polestar 2s this summer, and the company is still accepting deposits for the EV.