Volvo Cars has purchased all remaining stock in Polestar and now owns 100% of the brand. Special high-performance Volvos in the future will therefore be branded as Polestar models.
The two companies have been partners since 1996, first working together to run a factory Volvo team in the inaugural Swedish Touring Car Championship season, and more recently to develop Polestar versions of Volvo cars that combine a comfortable driving experience with a very high level of power and handling.
Since 2009, Polestar has been serving as official performance partner, and the first road-going S60 and V60 Polestar models were introduced in 2013. Today, Volvo's entire international motorsport program is run by Polestar.
Polestar racing team to stay independent
Neither Volvo nor Polestar has agreed to disclose the financial details of the deal. What we know, however, is that current Polestar Performance employees will become Volvo employees. Moreover, Christian Dahl, the former owner of Polestar, will retain control of the Polestar racing team, which 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,” said Christian Dahl.
The next generation of performance cars developed by Polestar will leverage Volvo’s twin-engine electrification technology. For 2015, the Swedish automaker expects to sell 750 Polestar versions of the V60 wagon and S60 sedan globally. Following the purchase of Polestar, however, that number could easily double in the medium term, Volvo predicts.