Volvo

Car maker Volvo has acquired 100 % stake of the Swedish high performance company Polestar which includes the Polestar brand.High performance Volvo models will now get the Polestar badging in the future.

Volvo and Polestar have been working together since 1996 in the field of motorsport which later expanded to road going Volvo cars. In 2015, Volvo expects to sell 750 Polestar versions of the V60 wagon and S60 sedan globally. Polestar sales are expected to increase to between 1,000 and 1,500 cars a year, now that the brand is under Volvo’s ownership. Polestar will also in future utilise Volvo’s twin engine electrification technology to develop next generation performance cars.

No financial details of the deal have been disclosed, but 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,” said Christian Dahl.

According to Autocar India, Volvo is planning to bring the Polestar brand to India, and is likely to launch the S60 Polestar sedan and V60 Polestar wagon in the country in 2016