1. Volvo Cars Polestar to take on Tesla, BMW i

Volvo Cars Polestar to take on Tesla, BMW i

Volvo Cars has announced that Polestar, its performance car division, is to become a separately-branded electrified global high performance car company, marking the latest stage in Volvo’s ongoing transformation.

By: | New Delhi | Published: June 23, 2017 2:21 AM
Volvo Cars, volvo cars Polestar, volvo buses, electrified cars, electrified high performance cars Volvo Cars has announced that Polestar, its performance car division, is to become a separately-branded electrified global high performance car company, marking the latest stage in Volvo’s ongoing transformation. (Reuters)

Volvo Cars has announced that Polestar, its performance car division, is to become a separately-branded electrified global high performance car company, marking the latest stage in Volvo’s ongoing transformation. In order to drive the development of the brand, Thomas Ingenlath, senior vice-president of Design at Volvo, will assume the position of chief executive officer at Polestar. Ingenlath has been the inspiration behind Volvo’s design renaissance in recent years. “Ingenlath heading up the Polestar organisation shows our commitment to establishing a truly differentiated stand-alone brand within the Volvo Car Group,” said Håkan Samuelsson, president and chief executive of Volvo Cars. Ingenlath will be joined at Polestar by Jonathan Goodman, who will become the chief operating officer. Goodman moves from his position as senior vice-president, Corporate Communication, Volvo Cars.

“With 25 years of commercial experience in the automotive industry, Goodman is ideally placed to provide operational experience alongside Ingenlath’s vision, building on the experienced management team that will drive the Polestar brand forward,” said Samuelsson. “Polestar will be a credible competitor in the emerging global market for high performance electrified cars. With Polestar, we are able to offer electrified cars to the world’s most demanding, progressive drivers in all market segments.”

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Volvo Cars acquired 100% of Polestar Performance in July 2015, having worked together in motorsport since 1996. In the future, 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. The company added that Polestar will enjoy specific technological and engineering synergies with Volvo Cars and benefit from significant economies of scale as a result of its connection with Volvo. “These synergies will allow it to design, develop and build world-beating electrified high-performance cars,” it said in a statement. Polestar added it will make further announcements about its products, industrialisation and commercial plans in the autumn.

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