Photo: Volvo
Those interested in Volvo's activity in the car industry know the Swedish brand and the Polestar name go hand in hand, but the bigger fish ate the smaller one on this occasion.
Volvo just announced they bought 100 percent of Polestar, including the Polestar brand, which will now be used as the model name for special high-performance Volvos.
However, no financial details of the deal have been disclosed, but Volvo announced that existing Polestar Performance employees will become Volvo employees, joining the existing 26,000 Volvo employees worldwide.
Also, the Polestar Racing Team will remain under the control of Christian Dahl, the former owner of Polestar, but will be renamed.
“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 Håkan Samuelsson, president and chief executive officer of Volvo Cars.
The two names share a long history, as they have been working together in motorsport since 1996, but the public knew their collabo better after the two entities jointly developed Polestar versions of Volvo cars.
The company's forecasts talk about an increase in Polestar sales, to between 1,000 and 1,500 cars per year in the medium term under Volvo’s ownership. In addition, Polestar will also use Volvo’s twin engine electrification know-how in the future, with the clear aim to develop next-generation performance cars.
However, no financial details of the deal have been disclosed, but Volvo announced that existing Polestar Performance employees will become Volvo employees, joining the existing 26,000 Volvo employees worldwide.
Also, the Polestar Racing Team will remain under the control of Christian Dahl, the former owner of Polestar, but will be renamed.
“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 Håkan Samuelsson, president and chief executive officer of Volvo Cars.
The two names share a long history, as they have been working together in motorsport since 1996, but the public knew their collabo better after the two entities jointly developed Polestar versions of Volvo cars.
What's next
For 2015, Volvo officials expect to sell 750 Polestar versions of the V60 wagon and S60 sedan around the world. Both feature a 350 horsepower T6 engine and a tuned-up chassis, making the 0-100 km/h (62 mph) sprint attainable in just 4.9 seconds.The company's forecasts talk about an increase in Polestar sales, to between 1,000 and 1,500 cars per year in the medium term under Volvo’s ownership. In addition, Polestar will also use Volvo’s twin engine electrification know-how in the future, with the clear aim to develop next-generation performance cars.
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