Polestar today announced the official pricing figures for its first model, the 1 and Americans are getting something of a deal.

Despite costing 155,000 euros (the equivalent of $188,000) and 1.45M Chinese Yuan ($230,000), Americans will only have to pay $155,000 for the privilege of driving Polestar's first product as a standalone automaker.

Polestar made the announcement on the occasion of Auto China 2018 in Beijing, where is showing the coupe in the market where it will be made.

"After our public introduction at the Geneva Motor Show in March, we are excited to be back in China - one of the key markets for the Polestar brand," said Thomas Ingenlath, Polestar CEO. "It feels great to bring the Polestar brand and the Polestar 1 closer to the public here in Beijing."

Despite only now revealing the full price, Polestar opened pre-orders in March and more than 7,000 people in 18 countries signed up to pay a $2,500 deposit on a Polestar 1.

"We have seen a strong initial response from our first customers," said Ingenlath. "This gives us confidence that our brand has a bright future."

The Polestar 1 is based on Volvo SPA platform but introduces the use of scathes of carbon fiber to make the sports car lighter and stronger. With a plug-in hybrid drivetrain that allows the car to drive up to 150 km (93 miles) on electricity alone, the 1 shows the duality of Polestar.

Both interested in "green" technology and performance, the hybrid drivetrain not allows the Polestar 1 to drive miles on electricity, it also allows combines with the internal combustion engine to churn out 600 hp and a whopping 1,000 lb-ft of torque.

Recently seen testing in the arctic circle, the Polestar 1 precedes the Polestars 2 and 3, which will both be fully electric.