Volvo Cars and its owner, China-based Geely Holding, will jointly invest RMB 5 billion ($756 million) to support the initial phase of Volvo subsidiary Polestar’s development. Among other things, the funds will be used to establish a Polestar manufacturing facility in Chengdu, China. Polestar has revealed its first production model. The Polestar 1 is a… Read more »
Polestar, Volvo’s performance car subsidiary, is to be transformed into a new brand for electrified vehicles. Thomas Ingenlath, Senior VP of Design at Volvo, will assume the position of CEO at Polestar. “Thomas heading up the Polestar organization shows our commitment to establishing a truly differentiated stand-alone brand within the Volvo Car Group,” said Håkan… Read more »