Volvo Cars has announced that its performance car brand Polestar will become a new separate electrified global high-performance car company, the latest in Volvo’s on-going transformation. The company said that Thomas Ingenlath, Senior Vice President Design at Volvo will assume the position of CEO at Polestar. Additionally, Jonathan Goodman, currently Senior Vice President Corporate Communication at Volvo Cars will become the Chief Operating Officer.
Volvo Cars has been working with Polestar P since 1996 and fully-acquired the company in July, 2015. In future, Polestar will offer its own brand of cars no longer carrying Volvo badging, as well as offer optimisation packages for Volvo’s range of cars under the Polestar Engineered brand. Polestar will leverage on specific technological and engineering synergies with Volvo Cars and benefit from significant economies of scale as a result of its connection to the carmaker, the company noted. These synergies will allow it to design, develop and build world beating electrified high performance cars, Volvo Cars added.
Håkan Samuelsson, President and Chief Executive, Volvo Cars, said Ingenlath heading up the Polestar organisation shows the company’s commitment to establishing a truly differentiated stand-alone brand within the Volvo Car Group. Polestar will be a credible competitor in the emerging global market for high performance electrified cars, he added. Samuelsson noted that with Polestar, Volvo is to offer electrified cars to the world’s most demanding, progressive drivers in all market segments.