FILE - This is the Volvo logo on a wheel on a 2019 S90 T6 AWD Inscription automobile on display at the 2019 Pittsburgh International Auto Show in Pittsburgh, Feb. 14, 2019
FILE - This is the Volvo logo on a wheel on a 2019 S90 T6 AWD Inscription automobile on display at the 2019 Pittsburgh International Auto Show in Pittsburgh, Feb. 14, 2019

FRANKFURT, GERMANY - Volvo's electric performance brand Polestar is unveiling a battery-powered compact car touted as a rival to Tesla's Model 3.

The Polestar 2 is a five-door vehicle with a panoramic glass roof, an all-vegan interior and a battery with enough capacity to drive 500 kilometers under European tests for range measurement, or 275 miles under U.S. testing rules.

With 408 horsepower, it should accelerate from zero to 100 kph (0-62 mph) in under five seconds. Polestar said Wednesday that the car's U.S. price for the launch version will be $55,500 after tax incentives; later a lower-priced version with less range is envisioned.

The car, to be shown at next month's Geneva auto show, becomes available in 2020.

Volvo Car Group, headquartered in Goteborg, Sweden, is a subsidiary of Chinese automaker Geely.