Geely Holdings, Volvo Invest Heavily In Polestar

Geely Holdings, Volvo Invest Heavily In Polestar

This week, the company showed the first model that will bear its name: the sporty, 600-hp Polestar 1.

With experience as Volvo's performance arm, responsible for racing and souped-up road models like the XC90 and XC60 T8 Polestars, Polestar is now transitioning toward becoming an independent badge with its own lineup of electrified performance cars.

China has set strict quotas for electric and hybrid vehicles that carmakers need to hit by 2019 and has begun looking at an eventual ban on the production and sale of cars using traditional fuels. Polestar 1 is a two-door, 2+2 seat Grand Tourer Coupé with an "Electric Performance Hybrid" drivetrain.

"The Polestar 1 is a performance electric hybrid, but with the longest pure electric range of any hybrid vehicle in the world, we consider it an electric auto with support from an internal combustion engine", Polestar CEO Thomas Ingenlath explains. On Thursday, the new Polestar revealed its future as a standalone electric performance brand. It also features Ohlins continuously controlled electric suspension (CESi).

The Polestar 1 will be built at Polestar Production Centre in Chengdu, China. It will be called as the Polestar 1 and the production is expected to start by mid-2019. Now under construction, the facility is due for completion in mid-2018. The Polestar 3 will follow, giving Polestar a battery electric SUV to sit between the flagship 1 and the 2 in terms of pricing and volume. There will be no Polestar dealers - and no Polestar cars in the corner of a Volvo showroom - but there will be Polestar retail "spaces". Naming might be a problem, as Polestars 2 and 3 are already set to be a small saloon and SUV respectively. Cars will be ordered 100 per cent online and offered on a two or three year subscription basis. The zero-deposit, all-inclusive subscription will also add features such as pick-up and delivery servicing and the ability to rent alternative vehicles within the Volvo and Polestar range, all incorporated into one monthly payment.

"We believe that subscription is the future", said Jonathan Goodman, Polestar's chief operating officer.

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