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Inside Volvo-backed Polestar's plan to compete with Tesla in the U.S.

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How Volvo's Polestar plans to become a major EV player

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Polestar is an electrical vehicle start-up that broke onto the scene in 2017 with grand ambitions to take on Tesla and become a coveted EV brand. The company is backed by automaker Volvo and Chinese auto-giant Geely.

Polestar has been selling a limited-release performance hybrid and just recently brought its first fully electric car to market, the Polestar 2, to compete with the Tesla Model 3. It has also announced plans to start production of an electric SUV in the U.S. next year.

Watch the video for a look at Polestar's plans to become a major EV player.