After Polestar rolled out its elegant electric-powered Polestar 2 over a year ago, the company disclosed that the electric car will have a price tag of $59,900 -- and set to arrive at US dealerships in the summer this year.

The ongoing coronavirus nightmare might be accountable for a host of new products being sidelined of late, but that is not the case with the latest Polestar 2 electric car.

Production of the electric hatchback began in China last month, and the green vehicle is currently on course to hit dealerships across the United States in the late summer, with more sites to follow and buyers can by then order via the internet.

Spun out of the Volvo/Geely partnerhip's latest offering, the Polestar 2 will compete with the Model 3 of rival Tesla, and with a starting price of $59 grand in the US.

That's about $3,000 less than Polestar initially bared, back when it made public the Polestar 2 last year. It's a significant revision, too, since it provides the electric fastback under the category where some states allow EV rebates for electric vehicles.

Polestar, once a supercharged brand under Volvo Cars, was remodeled as an electric performance version three years ago. The goal was to create a fresh, easy-to-handle electric cars -- an area that Tesla was the first to fill and has dominated since then.

The new Polestar 2 boasts of 408 horsepower and 487 pounds per feet of torque powered by electricity stored in a 78-kw-hour battery pack, giving the beast 275 miles of range and a Polestar-claimed 0-62-miles per hour time of under 5 seconds. The car also features an infotainment system that runs on the Android OS, among other key features.

According to Polestar USA chief Gregor Hembrough, the company is quite excited to announce the US pricing for the Polestar 2. "The MSRP is lower than we originally aimed at, and will be extended to all of our existing reservation holders," he said.

Polestar, jointly owned and operated by Zhejiang Geely Holding of China and Volvo Car Group, is looking to launch physical retail showrooms called "Polestar Spaces" as soon as stay at home orders prompted by the ongoing pandemic are lifted.

The first of these showrooms will be unveiled on in New York and the West Coast by late summer, Polestar announced, and will be available for purchase or lease. The first cars produced will be sold in Europe, with sales in China and North America after that.