Volvo’s performance arm, Polestar, will become a standalone brand specialising in electrified high performance cars, the company announced.
Volvo Cars acquired 100 per cent of Polestar Performance in July 2015, having worked together in motorsport since 1996. In the future, Polestar will offer Polestar branded vehicles that will no longer carry a Volvo badge, as well as continuing to produce optimisation packages for Volvo’s range of cars under the Polestar Engineered brand.
Volvo says Polestar will enjoy specific technological and engineering synergies with Volvo Cars and benefit from significant economies of scale as a result of its connection to Volvo. These synergies will allow it to design, develop and build electrified high performance cars to take on the established brands from Germany.
To drive the development of the brand, Thomas Ingenlath, currently Senior Vice President Design at Volvo, will assume the role of Chief Executive Officer at Polestar.
Mr Ingenlath said: “I am really excited to take up the challenge of establishing this exciting brand, developing a fabulous portfolio of bespoke products and channelling the passion we have throughout the Polestar team. The next chapter in Polestar’s history is just beginning.”
Polestar will make further announcements about its products, industrialisation and commercial plans in the 3rd quarter of 2017.