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Polestar acquired by Volvo Cars

15 Jul 2015|3,302 views

Volvo Cars has acquired 100 percent of Polestar, including the Polestar brand and will use the 'Polestar' brand for special high-performance Volvos.

The Polestar brand is already firmly established internationally through the sale of Polestar-branded Volvos

Volvo and Polestar share a long history. They have been working in motorsport 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.

"Driving a Volvo Polestar is a special experience. We have decided to bring this experience to more Volvo drivers, placing the full resources of Volvo behind the development of Polestar as the model name for our high performance cars," said Hakan Samuelsson, President and Chief Executive of Volvo Cars.

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.

Polestar will utilise Volvo's twin engine electrification technology to develop next generation performance cars in the future after Polestar's acquisition. Volvo is the largest manufacturer of plug-in hybrid cars in Europe and leader in advanced vehicle electrification technology. Volvo currently develops and manufactures some of the most powerful, most environmentally-friendly hybrid engines in the automotive industry.

Volvo and Polestar share a long history. They have been working in motorsport 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.

"Driving a Volvo Polestar is a special experience. We have decided to bring this experience to more Volvo drivers, placing the full resources of Volvo behind the development of Polestar as the model name for our high performance cars," said Hakan Samuelsson, President and Chief Executive of Volvo Cars.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.