Marking the latest stage in Volvo’s ongoing transformation, Polestar will build its own branded EVS and will no longer carry a Volvo logo, hence, establishing a 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. With Polestar, we are able to offer electrified cars to the world’s most demanding, progressive drivers in all market segments”, said Håkan Samuelsson, President and Chief Executive, Volvo Cars.

According to the manufacturer, Polestar will enjoy specific technological and engineering synergies with Volvo Cars and benefit from significant economies of scale as a result of its connection to Volvo. These synergies will allow it to design, develop and build world beating electrified high-performance cars.

Founded by Polestar Racing, today known as Cyan Racing, Volvo Cars acquired 100% of Polestar Performance in July 2015, having worked together in motorsport since 1996. Today, Polestar builds the S60 and V60 Polestar, 367 HP performance road cars with over 250 developments over-and-above the standard Volvo products.