To take on Tesla, Volvo has announced a new brand to manufacture electric cars. Polestar, Volvo’s new electrified global car company is all set to go head to head with Mr. Musk. Polestar is a separately branded high performance company which has been created to cater to electric cars, it is a new company under Volvo.
With a focus on the Chinese market, Volvo showed interest for electric cars, earlier this summer. Volvo is a Swedish car giant and it is owned by Geely, a Chinese company. Volvo has made it clear that it will market and produce electric cars under a new brand which is known as Polestar.
Polestar was acquired by Volvo Cars in July two years ago. The companies had previously worked together for 19 years. They were into motorsport since 1996. Previously, Volvo’s performance car arm was known as Polestar. With Polestar turning to a separately branded company, it will not Volvo brand hereafter.
Thomas Ingenlath, Senior Vice President Design at Volvo, would be the Chief Executive Officer at Polestar.
Under the leadership of their new Chief Executive Officer the company is committed to entrench a stand – alone differentiated brand in the Volvo Car Group. The president and Chief Executive Officer of Volvo Cars said that Polestar will leave a long lasting mark in this market of electrified cars. He also added that it would go head to head with Tesla as far as high performance electrified cars are concerned.
The new Chief Executive Officer of Polestar seemed really excited about this brand and told that a new chapter was about to begin for the company. He has been the inspiration behind the company, Volvo, winning many accolades for designing. To know more about Polestar we would have to wait until autumn. The company will make further announcements about its commercial plans, industrialization and products later.
“I am really excited to take up the challenge of establishing this exciting brand. [..] The next chapter in Polestar’s history is just beginning,” said Ingelath, who has been the inspiration behind Volvo’s award winning design renaissance in recent years.
Polestar will make further announcements about its products, industrialization and commercial plans in the autumn.