Volvo Aquires Polestar as Its In-House Tuning Badge
Polestar and Volvo previously collaborated on the V60 Polestar and Volvo S60 performance cars, but only produced 750 of these rare automobiles and only 160 of those made it to American soil. With this acquisition, Volvo is expected to up its production to approximately 1,5oo Polestar automobiles each year.
“Driving a Volvo Polestar is a special experience,” said Hakam Samuelsson, president and chief executive of Volvo cars. “We 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.”
Financial terms of the deal have not been released, but it has been reported that all Polestar employees will now become employees of Volvo–although the racing team will remain under the leadership of Christain Dahl.
“We are extremely satisfied with the way the performance business with Volvo developed. But we are a racing team first and foremost,” said Dahl. “This is an opportunity to return our full attention to our core business – to develop and race Volvo cars.”