Why Polestar Broke Away From Volvo: The Untold Story Behind the Split
When Volvo decided to stop funding Polestar, many automotive enthusiasts were left scratching their heads. According to Polestar CEO Thomas Ingenlath, however, this move was always part of the master plan. He mentioned, 'The plan was always for Volvo to let off ownership.' This strategic decision allows Polestar the freedom to develop its distinct brand identity, separate from Volvo's shadow.
Polestar 3 3/4 rear view" src="https://static0.carbuzzimages.com/wordpress/wp-content/uploads/2024/05/670573_20230713_polestar_3_prototype-1-1.jpg"/>Key Takeaways
- Polestar CEO Thomas Ingenlath says Volvo always intended to stop funding Polestar.
- The luxury brand will differentiate itself by offering EVs that are dynamic and exciting to drive.
- Success of the Polestar 3 and Polestar 4 are critical to the brand's continued success.
This year, Volvo announced that it will no longer continue to fund Polestar, the electric vehicle brand it jointly created with Geely. This announcement raised many eyebrows, but Polestar CEO Thomas Ingenlath said it was inevitable. He told the UK's CAR magazine, 'The plan was always for Volvo to let off ownership. And it will still be the partner with whom we need synergies with manufacturing, the service network and so on. That was the original idea. But it was a little bit more of a surprise when it finally happened.'
What Does The Future Hold For Polestar?
While products like the Polestar 2 and Polestar 3 have plenty of Volvo influence, the later models - such as the 4 and upcoming 5 and 6 - are more closely related to Geely vehicles. The new Polestar 3 and 4, for example, use the SEA (Sustainable Experience Architecture) platform, whereas the Polestar 2 is underpinned by the Compact Modular Architecture, also used for the Volvo XC40 Recharge (now known as the EX40).
'In Geely, we will have different owners, of course, and that's a good thing,' said Ingenlath. 'We needed a bigger free float, and this is something that is changing as we grow up as a company and develop cars not only with Volvo.' Geely has shown it is capable of producing great cars. The new Lotus Eletre comes to mind, and so does the Zeekr 009 Grand. But is there a risk that Polestar-branded vehicles could just become like everything else under the Geely umbrella?
Polestar Cars Will Feel Different From Volvo And Geely Offerings
Polestar will differentiate its lineup by creating vehicles that are enjoyable to drive from a dynamic perspective. 'You don't become a great chef because you found that one vegetable nobody else is using. It's how you cook the meal. Everybody's cooking with meat, pasta, and vegetables. It is not about what ingredients you put in there. It's what you make out of them,' remarked the CEO. 'Volvo has something outstanding with the EX90. But, I mean, if you don't see the difference between the EX90 and the Polestar 3, then I don't know what more we can do.'
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OFFICIAL: Cheaper Polestar 3 With Rear-Wheel Drive Coming This Year
The entry-level model will use a rear-mounted electric motor and a 111 kWh battery pack, but what matters most is price.
'We are definitely not just building computers on wheels. We are building cars that are amazing to drive.'
- Thomas Ingenlath, Polestar CEO.
Polestar aims to produce expensive and premium electric vehicles that provide the driver with an emotional experience. While some may scoff at the idea of an 'emotional' EV, Polestar has shown us it has a desire to build exciting vehicles. The upcoming Polestar 6 roadster is proof of this, and the Polestar 5 - a stunning four-door sports sedan with 872 horsepower - is shaping up to be something special. For now, the 3 and 4 are the most important models. 'As a company, we have been planning for a long time. But it is important to be really alert for the right now. We cannot fail in launching the 3 and 4 in a successful way,' concluded Ingenlath.
Source: CAR