Polestar, the performance brand of Volvo Cars, will operate as a dynamic and independent enterprise under Volvo Cars’ ownership, according to Håkan Samuelsson, president and chief executive of Volvo Cars.
Polestar will have its own management team and will control its own product strategy, research and development, as well as marketing and sales, Mr Samuelsson said.
Polestar will also continue its motorsport activity in the 2016 Scandinavian Touring Car Championship alongside Cyan Racing, the new racing team set up by Christian Dahl.
“I am keen for Polestar to remain as entrepreneurial as possible,” said Mr Samuelsson. “We want Polestar to build on its racing heritage and strengthen its brand by pushing the limits in terms of engineering and technology. The best way to achieve this was for it to work as an independent unit.”
Polestar’s management currently comprises Björn Sällström as chief executive and Niels Möller as chief product officer, reporting to a Board of Directors comprising senior Volvo executive managers.
Volvo Cars acquired 100 per cent of Polestar in July 2015. The two main business areas of Polestar, cars and accessories, will be expanded further and continue to be tied closely with the motorsport programmes in terms of technical development.
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 1,000 and 1,500 cars a year in the medium term under Volvo’s ownership.
