Volvo’s performance arm Polestar will become a new separately-branded company that will focus on high-performance electrified models, as announced by the Swedish car maker.
Confirming an earlier report on the matter, Polestar’s newfound independence status will be leaded by Volvo’s senior VP of Design Thomas Ingenlath who will assume the role of Chief Executive Officer.
“Thomas 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 Chief Operating Officer, moving from his position as Volvo’s senior VP of Corporate Communication.
“With 25 years of commercial experience in the automotive industry, Jonathan is ideally placed to provide operational experience alongside Thomas’s vision, building on the experienced management team that will drive the Polestar brand forwards” Samuelsson said.
“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.”
As expected, Polestar will benefit from economies of scale as a result to its connection to Volvo in its future work that involves the design, development and production of high-performance electrified models.
This is the last update in Geely’s plan to expand its global portfolio, with Polestar positioned as the performance brand, Volvo tackling the premium corner and Lync&Co entering the mainstream market.
No information has been released yet for what the first standalone Polestar models will be, but recent reports suggest that the company’s first vehicles will be based on Volvo’s 60 and 90 series models.
Ingenlath said: “I am really excited to take up the challenge of establishing this exciting brand, developing a fabulous portfolio of bespoke products and channelling the passion we have throughout the Polestar team. The next chapter in Polestar’s history is just beginning.”