Volvo Cars relaunches Polestar as independent performance EV brand
Geely-owned automaker Volvo Cars will make its Polestar Performance business a stand-alone brand within the group, focusing on electric vehicles, the company said on Wednesday.
Polestar, bought by Volvo in 2015, will produce vehicles under the Polestar brand while continuing to deliver high-performance upgrades to the Volvo range.
Major markets are likely to include China and the United States.
The new offering will be mainly electric vehicles, aimed at competing with Tesla and the Mercedes AMG division on battery supercars, Volvo said.
"Polestar will be a credible competitor in the emerging global market for high-performance electrified cars," it said.
Volvo said Polestar will benefit from technological and engineering synergies as well as economies of scale from being part of Volvo Cars, however, its models will no longer include the Volvo logo.
Polestar will reveal additional product and commercial plans in the autumn.
Major markets are likely to include China and the United States.
The new offering will be mainly electric vehicles, aimed at competing with Tesla and the Mercedes AMG division on battery supercars, Volvo said.
"Polestar will be a credible competitor in the emerging global market for high-performance electrified cars," it said.
Volvo said Polestar will benefit from technological and engineering synergies as well as economies of scale from being part of Volvo Cars, however, its models will no longer include the Volvo logo.
Polestar will reveal additional product and commercial plans in the autumn.
