Polestar, Volvo’s performance division, is reportedly going to offer its own electric performance models, with the first standalone model expected to arrive this year.
Geely, the parent company of Volvo and Polestar, wants to create a range of brands to successfully compete the VW Group, as reported by Auto Express.
As Volvo secures a steady place in the premium market, Geely wants Polestar to expand its portfolio in the same way Mercedes did with the AMG brand, meaning offering its own models, as well as performance versions of Volvo cars.
The plan in general has Volvo covering the premium corner, Polestar positioned as the sportier brand and Lync & Co tackling the mainstream market, with Geely to continue selling its own models in the Chinese market.
The Chinese company also owns the London Taxi Company and is currently in the middle of purchasing a controlling stake in Lotus.
Volvo currently has two modular architectures available, the SPA (Scalable Product Architecture) and the CMA (Compact Modular Architecture), and both of them are planned to be used on future Polestar models, but the first standalone electric Polestar car, which will be based on the SPA platform, is likely to be revealed some time this year.