Polestar is an independent Swedish premium electric performance car brand. As a Polestar EV manufacturer, it takes advantage of its partnership with Volvo Cars and benefits from significant economies of scale.
Polestar, the EV manufacturer, has its headquarters in Gothenburg, Sweden, and sells its vehicles in ten global markets across the globe.
| Polestar | |
| Founded: | 1996 |
| CEO: | Thomas Ingenlath |
| Employees: | 800 |
| Headquarters: | Gothenburg, Sweden |
| Manufacturing: | Chengdu, China |
| IPO: | 2022 |
| Models: | Polestar 2 Polestar 3 |
| Federal Tax Credit Eligibility: | No |
Polestar Mission Statement
We aim to improve the society we live in by accelerating the change to sustainable mobility.
Polestar commitment
History of Polestar
The history of Polestar goes back to 1996 when a company called Flash Engineering competed in the Swedish Touring Car Championship (STCC) as a Swedish racing team. Polestar Racing later purchased and rebranded the team and began engineering their racing Volvos in the late 2000s. Eventually, Volvo bought the company and brand in 2015, when Polestar became the performance team for Volvo.
A History of Performance and Racing
Until 2009, Polestar actively participated in racing. But, in 2006, Polestar began branching out from racing and helping Volvo train their new mechanics. They also created training equipment for mechanic schools. In 2007, Polestar began supplying Volvo cars to schools and helping introduce new business methods to dealers.
In 2008, Volvo asked Polestar to develop the model C30 into a race-worthy vehicle. The vehicle didn’t break any records in the STCC season, but this marked the beginning of a new era for Polestar’s relationship with Volvo. Polestar officially left the race scene in 2009 and shifted its focus to performance upgrades for civilian Volvos.
Polestar 1 – A New Beginning
Polestar, the EV manufacturer, got its start in the electric vehicle space with its plug-in hybrid luxury sports car, named Polestar 1. The hybrid was based on the 2013 Volvo Concept Coupe and is Polestar’s first production model as a car company. Polestar announced the production of Polestar 1 in Beijing in 2017 and started producing it in 2019.
2021 will be the last year for the luxury hybrids as Polestar looks ahead to a future of all-electric vehicles for the Swedish manufacturer.
Polestar Production Centre in Chengdu, China
The Polestar Production Centre opened in August 2019 in Chengdu, China. The manufacturing plant aims to achieve Gold status in the internationally recognized LEED ratings.
Designed by Norwegian architecture firm Snøhetta, the facility depicts the next level of automotive manufacturing. The plant focuses on energy-efficient buildings, efficient land usage, as well as employee well-being.
Where did Polestar get its name?
The team owner, Christian Dahl, changed the name to Polestar to “represent the frozen north of Sweden with the pole star and also playing on the connection to pole position and star of racing.”
Polestar Current and Future Vehicles
Polestar 2
The Polestar 2 is Polestar’s first fully electric model. Revealed in February 2019, Polestar 2 is a premium electric vehicle that brings a Swedish style to the compact electric segment.
Polestar 2 Notable Features
- Price: Starting at $45,900* before Federal Tax Credit Applied
- Towing Capacity: Up to 2,000lbs
- Long-Range Single Motor: up to 270 miles, 231 hp, 0-60 mph in 7 sec
- Long-Range Dual Motor (+$4,900): up to 260 miles, 408 hp, 0-60 mph in 4.5 sec
- Infotainment: Google built-in
- Autopilot: Safety Assistance driver aids
What else is coming for Polestar?
Polestar O₂
The Polestar O2 is an all-electric, performance hard-top convertible that continues on from the Precept concept. It comes with its very own deployable moviemaking drone to capture all your experiences as a driver.
Polestar 3 SUV
Polestar will manufacture the Polestar 3 alongside other Volvo vehicles in Charleston, South Carolina. This shows Polestar’s competitive advantage with significant industrial and financial synergies with Volvo. Polestar COO Dennis Nobelius explains:
Production in the USA reduces delivery times as well as the environmental impact associated with shipping vehicles around the world. It will even have a positive impact on the price of Polestar 3. All of this makes the brand even more competitive in the critical American sales market.
“We will build in America for Americans,” says Thomas Ingenlath, Polestar CEO. “Polestar 3 is planned to be launched in 2022 as a premium electric performance SUV that will define the look of SUVs in the electric age. It will also be the first Polestar vehicle built in America.”
Polestar 4
The Polestar 4 will be the company’s second electric SUV released. It is expected to rival the Tesla Model Y as a higher volume coupe-SUV. The Polestar 4 is not expected to reach dealers before late 2023. The expected price is set to begin at around $63,000 USD.
Polestar Precept (Polestar 5)
In 2024, Polestar intends to launch the Precept, which it had announced as a concept vehicle in early 2020. We don’t know much about the futuristic concept car, but it will compete with the Porsche Taycan, the Tesla Model S, the Lucid Air, and the Mercedes-Benz EQS.