Polestar, the performance brand of Volvo Cars, will operate as a dynamic and independent enterprise under Volvo Cars’ ownership, according to Håkan Samuelsson, president and chief executive of Volvo Cars.
Polestar will have its own management team and will control its own product strategy, research and development, as well as marketing and sales, Mr Samuelsson said.
Polestar will also continue its motorsport activity in the 2016 Scandinavian Touring Car Championship alongside Cyan Racing, the new racing team set up by Christian Dahl.
“I am keen for Polestar to remain as entrepreneurial as possible,” said Mr Samuelsson. “We want Polestar to build on its racing heritage and strengthen its brand by pushing the limits in terms of engineering and technology. The best way to achieve this was for it to work as an independent unit.”
Polestar’s management currently comprises Björn Sällström as chief executive and Niels Möller as chief product officer, reporting to a Board of Directors comprising senior Volvo executive managers.
Volvo Cars acquired 100 per cent of Polestar in July 2015. The two main business areas of Polestar, cars and accessories, will be expanded further and continue to be tied closely with the motorsport programmes in terms of technical development.
In 2015, Volvo expects to sell 750 Polestar versions of the V60 wagon and S60 sedan globally. Polestar sales are forecast to increase to between 1,000 and 1,500 cars a year in the medium term under Volvo’s ownership.
Notes to editors:
Volvo has acquired Polestar Performance AB, which comprises performance activities including performance-edition cars and performance drivetrain optimisations, as well as Polestar Holding AB, which is the owner of the Polestar trademarks. Volvo has not acquired the racing division of Polestar, now named Cyan Racing and owned by Christian Dahl. Polestar is Volvo Cars Performance Division and Cyan Racing is the official motorsport partner to Polestar.
The Volvo S60 and V60 Polestar feature a 350 horsepower T6 engine, making the 0-100 km/h sprint in just 4.9 seconds, and an extensively developed chassis. The car demonstrates Volvo and Polestar’s engineering philosophy of delivering an engaging, precise and confident driving experience.
The new generation Polestar Performance Optimisations offer increased mid-range engine performance in combination with supporting changes for the gearbox and throttle response to make the car more dynamic and responsive to drive.