Volvo disclosed that following the acquisition of Polestar, the new subsidiary will be tasked with working on the planned lineup of electric vehicles. This is expected as Polestar has a long history when it comes to racing.
With this, Polestar can likely make new electric models, shared Lex Kerssemakers, President and CEO of Volvo Cars North America. While people have compared this buyout with what happened between Mercedes-Benz and its purchase of AMG, Kerssemakers assures customers that the goal will not be building racing cars that display crazy performance. Rather, he continued, it is all about making cars that can also be used on a daily basis.
Currently, the brand is looking into how to it can benefit from the best of Polestar and the cycle plan that will be launched alongside it, Kerssemakers added. He said further that even if the focus is indeed on performance, it will remain to be about how the brand stands out when it comes to the drivetrain. It appears that in the future, electrification will have a significant part and Polestar is expected to play a role, he concluded.
Polestar has recently unveiled a Performance Package not only for the S90 but the V90 as well. Models that are considered as truly Polestar include the V60 and the S60.
It was in the middle of 2015 when Volvo revealed that it had bought a 100% stake in Polestar. Under the agreement, the Polestar brand will now be used to refer to Volvo’s high-performance models. Although no details regarding the financial side were released, it was confirmed that all employees of Polestar will now be employees of Volvo. Both companies however have been collaborating for years now with Polestar creating its own versions of many models from Volvo.
The buyout however did not include ownership of the Polestar racing team which would still be under Christian Dahl. To avoid any future disputes, the team will be renamed; also both Dahl and Polestar will continue to work with each other. Commenting on this particular matter, Dahl shared that while the team is indeed happy with the agreement, it remains to be a racing team. The buyout though, he continued, would serve as a good chance for the team to focus on its main objective which is to create and race using Volvo models.
According to Volvo, Polestar is expected to fully utilize the brand’s twin engine electrification technology in order to make new performance cars. The brand meanwhile revealed that it stands to gain from the aftermarket sale of the optimization kits made by Polestar for Volvo models. For 2016, the brand hopes to be able to build 750 units of the Polestar variant of the S60 and V60. Volvo expects that this number will likely increase from 1,000 to 1,500 units in the future.