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|23rd June 2017, 18:12||#1|
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Volvo: Polestar to become separately-branded EV company
Volvo Cars has announced that its performance arm - Polestar will soon become a standalone company within the Volvo Group and operate in the performance electric vehicle domain. This development comes at a time when the market for performance electric vehicles is seeing increased participation from manufacturers like Tesla. Conventional carmakers too are eyeing the EV space, with some of them planning to enter the performance EV industry in the near future.
Polestar Performance has been working with the Volvo Group from 1996. In July 2015, the Swedish automaker acquired the Polestar brand and has since been using it to develop high-performance variants of its existing models. Going forward, Polestar will be developing and retailing electric vehicles under its own brand. Such EVs won't have the Volvo name or logo. Meanwhile, the company will also be developing optimization packages for Volvo cars under the 'Polestar Engineered' brand.
Volvo Cars has further announced that Thomas Ingenlath, who is currently serving as the Senior Vice President Design at Volvo, will take over the position of Chief Executive Officer at Polestar. Meanwhile, Jonathan Goodman will move from his current position of Senior Vice President Corporate Communication at Volvo Cars to become the Chief Operating Officer at Polestar.
Details about the upcoming Polestar products and the company's commercial plans are expected to be made public in a few months. It is also being speculated that the company might make a big unveil or announcement at the Frankfurt Motor Show in September this year.
Link to Team-BHP News
Last edited by dZired : 23rd June 2017 at 18:14.
|26th June 2017, 21:33||#2|
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Re: Volvo: Polestar to become separately-branded EV company
This is brilliant! Love that new logo as well.
Volvo is doing great. They are a very strong alternative premium brand now compared to the Germans.
And its time to go after performance to raise the bar and create a halo offering.
Long back, the theory behind manufacturers getting involved in motorsport was summed up as, 'Win on Sunday, sell on Monday.'
Performance models of established brands is another form of winning that battle on Sundays - be it on a track or a YouTube channel.
And electricity is the new path to take. Volvo can really get some quick wins here as they don't carry the baggage of established players too.
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