It seems like Tesla has a new competitor in the electric vehicle business as Volvo has announced that they will make their Polestar line of cars into Polestar Performance, a standalone brand within Volvo.
The move allows Polestar to continue making BMW M and Mercedes AMG competitors while also taking the fight to Tesla by creating its own Polestar branded electric vehicles. The bulk of Polestar will be devoted to electric cars.
Volvo CEO Hakan Samuelsson says:
“With Polestar, we are able to offer electrified cars to the world’s most demanding, progressive drivers in all market segments. Polestar will be a credible competitor in the emerging global market for high-performance electrified cars.”
Heading up Polestar Performance will be Volvo design chief Thomas Ingenlath, who had previously pushed Volvo to record global sales with the design of models like the XC90. Says Ingenlath:
“I am really excited to take up the challenge of establishing this exciting brand, developing a fabulous portfolio of bespoke products and channeling the passion we have throughout the Polestar team. The next chapter in Polestar’s history is just beginning.”
Polestar Performance cars will no longer carry the Volvo logo but will benefit Volvo’s technology and engineering, as well as economies of scale by being a part of Volvo Cars.
SOURCE | Autoweek