Volvo acquires Polestar brand

Volvo acquires Polestar brand

Volvo Cars has acquired 100% of Polestar, the Swedish high performance car company, including the Polestar brand. Polestar will now be used as the model name for special high performance Volvos.

Polestar will also in future utilise Volvo’s twin engine electrification technology to develop next generation performance cars.

Volvo and Polestar have been working in motor sport since 1996 and in recent years signed a cooperation agreement to jointly develop Polestar versions of Volvo cars, that combine a Volvo driving experience with a high level of power and handling.

Australasia was a key market in the development of the S60 Polestar, taking the initial exclusive global release of 50 limited edition cars in 2013.

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 1000 and 1500 cars a year in the medium term under Volvo’s ownership.

Volvo will also benefit from the sale of aftermarket Polestar performance optimisation kits for existing Volvos.

No financial details of the deal have been disclosed. Existing Polestar Performance employees will become Volvo employees.

The Polestar racing team will remain under the control of Christian Dahl, the former owner of Polestar, and will be renamed. The Polestar brand will continue to work alongside Christian Dahl.

“We are extremely satisfied with the way the performance business with Volvo has developed. But we are a racing team first and foremost. This is an opportunity to return our full attention to our core business – to develop and race Volvo cars,” says Dahl.

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