Volvo is now the sole owner of the Polestar brand, and plans to use its new acquisition to widen its performance car program.
From a partnership that commenced in 1996, Polestar says its first job as a wholly-owned subsidiary will be to develop new performance versions of Volvo’s Drive-E engines, while also concentrating on the carmaker’s plug-in hybrid powerplants.
Using PHEV power, Polestar said it can create “the next generation” of performance cars.
Otherwise, Volvo fans will be treated to much of the same with the carmaker’s performance models still wearing Polestar badges and signature Polestar blue paint.
Volvo says it plans to sell 750 of its S60 and V60 Polestar models globally this year, with a medium-term goal to see sales boosted to between 1000 and 1500 units annually.
Current Volvo owners may also benefit from the new arrangement, with plans from Volvo to offer aftermarket Polestar performance kits for some models.
Polestar said it would not disclose the sale price, but added all of its existing employees will now be added to Volvo’s books.
“Driving a Volvo Polestar is a special experience,” Volvo Chief Executive, Håkan Samuelsson , said.
“We have decided to bring this experience to more Volvo drivers, placing the full resources of Volvo behind the development of Polestar as the model name for our high performance cars.”
The Polestar racing operations will be renamed, but will otherwise continue under the leadership of Christian Dahl.
Dahl said he was “extremely satisfied” with the Volvo partnership to date, and was now keen to see his team concentrate on motorsport.