Following an on-going collaboration since 1996, Volvo has finally acquired 100% of Polestar, the Swedish high-performance car company, including the Polestar brand. Polestar will now be used as the model name for special high performance Volvos. In future, Polestar will also utilise Volvo’s twin engine electrification technology to develop next generation performance cars.
Volvo and Polestar share a long history. They have been working in motor sport since 1996 and in recent years signed a cooperation agreement to jointly develop Polestar versions of Volvo cars that combine a comfortable Volvo driving experience with a very high level of power and handling.
In 2015, Volvo expects to sell 750 Polestar versions of the V60 wagon and S60 sedan globally. Polestar sales are forecast to increase to between 1,000 and 1,500 cars a year in the medium term under Volvo’s ownership.
The Polestar brand is already firmly established internationally through the sale of Polestar-branded Volvos. Volvo will also benefit from the sale of aftermarket Polestar performance optimisation kits for existing Volvos.
No financial details of the deal have been disclosed, however, it is confirmed that existing Polestar Performance employees will become Volvo employees. The Polestar racing team will remain under the control of Christian Dahl, the former owner of Polestar, and will be renamed. The Polestar brand will continue to work alongside Christian Dahl.
Check out what Polestar is all about in the video below!