Volvo Cars has announced that Polestar, its performance car arm, is to become a new separately-branded electrified global high-performance car company, marking the latest stage in Volvo’s ongoing transformation.
Thomas Ingenlath, Senior Vice President Design at Volvo, will assume the position of Chief Executive Officer at Polestar. He will be joined by Jonathan Goodman, who will become Chief Operating Officer.
Volvo Cars had acquired 100 per cent of Polestar Performance in July 2015. In the future, the company has informed that Polestar will offer Polestar branded cars that will no longer carry a Volvo logo, as well as optimisation packages for Volvo’s range of cars under the Polestar Engineered brand.
However, 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 world beating electrified high performance cars.
Polestar will make further announcements about its products, industrialization and commercial plans in the autumn.