Volvo Cars has announced that Polestar, its performance car arm, will become a new separately-branded, electrified global high-performance car company, marking the latest stage in Volvo’s ongoing transformation.
In order to drive the development of the brand, Volvo Cars also announced today that Thomas Ingenlath, senior vice president of design at Volvo, will assume the position of CEO at Polestar. Ingenlath will be joined at Polestar by Jonathan Goodman, who will become chief operating officer.
Volvo Cars acquired 100 per cent of Polestar Performance in July 2015, having worked together in motorsport since 1996. In the future, Polestar will offer Polestar branded cars that will no longer carry a Volvo logo, as well as optimization packages for Volvo’s range of cars under the Polestar Engineered brand.
Polestar will enjoy specific technological and engineering synergies with Volvo Cars and benefit from significant economies of scale as a result of its connection to Volvo. These synergies will allow it to design, develop and build world beating electrified high performance cars, according to the company.