Polestar

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For the astronomical object, see Pole star. For the racing team associated with the Volvo brand, see Polestar Racing. For the American Formula Atlantic racing team, see Polestar Racing Group. For other uses, see Polestar (disambiguation).

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Not to be confused with Polaris.
Polestar Automotive Holding UK PLC
Public limited company
Traded as NASDAQ: PSNY
Founded 1996; 28 years ago (1996)
Headquarters Gothenburg, Sweden
Area served
 Worldwide
Key people
Products
  • High performance electric engines & cars
Revenue Increase US$2.46 billion (2022)
Decrease −US$1.3 billion (2022)
Increase −US$466 million (2022)
Total assets Increase US$3.94 billion (2022)
Total equity Increase US$134 million (2022)
Owner Volvo Cars (49.5%)
Number of employees
 2,377 (December 2022)
Website polestar.com
Footnotes / references
[1][2]

Polestar is a Swedish automotive brand established in 1996 as Flash Engineering. It was later rebranded Polestar Racing, then acquired in 2015 by Volvo Cars.[3] It is headquartered in Torslanda outside Gothenburg, Sweden.[4] Its vehicles are produced in China, home to Volvo's corporate parent Geely.[5]

The Polestar name originates from the STCC Polestar racing team which spawned Polestar Performance AB,[6][7] in turn acquired by Volvo Cars in July 2015. The racing team changed its name to Cyan Racing, while maintaining close ties to Volvo.[8]

In September 2021, Polestar announced an intention to go public through a business combination agreement with Gores Guggenheim, Inc., a special-purpose acquisition company.[9] Polestar shares began trading on the Nasdaq exchange under the symbol PSNY on 24 June 2022.[10]

History

The company origins can be traced to the 1996 foundation of Flash Engineering, a Swedish racing team competing in Swedish Touring Car Championship (STCC). The team was sold and rebranded as Polestar Racing, which began modifying Volvos for racing in the late 2000s. In 2009, the brand became the official Volvo partner to modify existing models, under the brand Polestar Performance. Volvo eventually bought the company in July 2015 and began selling Polestar-enhanced models directly through their resellers.[11]

Polestar has also produced prototype cars, with the first being the C30 Polestar Performance Concept Prototype (2010) with over 400 bhp (300 kW) and 510 N·m (380 lbf·ft).[12]

The Volvo S60 Polestar Concept is the heir to the C30 Polestar, featuring 508 BHP from a modified T6 engine, launched in June 2012.[13] The car sprints from 0–100 km/h (0–62 mph) in 3.9 seconds with a top speed of over 300 km/h (190 mph).[14] Motor Trend tested the car at Mazda Raceway Laguna Seca where it broke the lap record for four-door cars, matching the lap time of an Audi R8.[15]

Selection of petrol and hybrid powered Polestar models:

Introduced Model Type Engine Drivetrain
2009 Volvo C30 Polestar Concept[16] concept 5-cylinder, 2500 cc, turbocharged, 451 PS AWD, 6-speed manual
2012 Volvo S60 Polestar Concept[17] concept 6-cylinder, 3000 cc, turbocharged, 508 PS AWD, 6-speed manual
2013 Volvo S/V60 Polestar production 6-cylinder, 3000 cc, turbocharged, 350 PS AWD, 6-speed auto
2016 Volvo S/V60 Polestar Drive-E production 4-cylinder, 1969 cc, turbocharged, 367 PS AWD, 8-speed auto
2018 Volvo S60 T8 Polestar Engineered production 4-cylinder, 1969 cc, plug-in hybrid, 415 PS AWD, 8-speed auto
2020 Volvo V60 T8 Polestar Engineered production 4-cylinder, 1969 cc, plug-in hybrid, 415 PS AWD, 8-speed auto
2020 Volvo XC60 T8 Polestar Engineered production 4-cylinder, 1969 cc, plug-in hybrid, 415 PS AWD, 8-speed auto

In October 2017, Volvo Cars and Geely Holding announced that Polestar would become a standalone brand focusing on electric cars.[18]

Products

Production cars

  • Polestar 1 IAA 2021 1X7A0056.jpg

    Polestar 1

  • Polestar 2 facelift 001.jpg

    Polestar 2

  • Polestar 3 012.jpg

    Polestar 3

  • Polestar 4 002.jpg

    Polestar 4

  • 2023 Polestar 5.jpg

    Polestar 5

Production Start Model Type State Engine Drive-train
2018 Polestar 1 Sports car/Grand tourer Discontinued 4-cylinder, 1969 cc, plug-in hybrid, 600 PS AWD. 8-speed auto
2020 Polestar 2 Compact executive car Production EFAD + ERAD combined output 300 kW FWD, AWD. 1-speed fixed gear
2023 Polestar 3 Mid-size luxury crossover SUV Production EFAD + ERAD combined output 360–380 kW AWD. 1-speed fixed gear
2024 (est.) Polestar 4 Compact luxury crossover SUV Pre-production 1-speed fixed gear
2025 (est.) Polestar 5 Executive car Pre-production 1-speed fixed gear
2026 (est.) Polestar 6 Grand tourer Pre-production 1-speed fixed gear

Polestar has produced two electric performance cars. The first was Polestar 1, a luxurious 2+2 coupé inspired by Volvo's Concept Coupé introduced in 2013, which includes influences from the Volvo P1800. The Polestar 1 was introduced on 17 October 2017, and was built between 2019 and 2021. The Polestar 1 was built in a new purpose-built Polestar Production Centre in Chengdu, China,[19] from 2019 at a rate of up to 500 per year.[20] During its final year of production, a limited-production gold-painted version of Polestar 1 was released. Only 25 units were produced.[21]

In 2019, Polestar announced their second car, the Polestar 2 electric car.[22] It was unveiled on 27 February 2019, in an online unveiling which was broadcast from the Polestar headquarters in Gothenburg, Sweden. Directly after, it had its public debut at the 2019 Geneva Motor Show.[23] It is produced at Volvo Cars's existing plant in Taizhou, China.[24] It will be receiving a mid-life refresh for its 2024 year-model, switching to a rear-wheel drive layout for its single-motor option, and various performance and cosmetic changes for the base model and performance package, respectively. It will also replace the existing front grille with a body-color front-end treatment that houses new safety hardware, including a front-facing camera and a new mid-range radar, matching the Polestar 3, dubbed the "SmartZone".[25]

File:Polestar Precept.jpg
Polestar Precept

Performance optimisation

Under the label Polestar Engineered, Polestar offers enhancements for Volvo cars which deliver better performance. Examples are engine optimizations with retained warranty and unchanged fuel consumption and emissions. The engine optimization increases the power and torque output, varying depending on engine model. The response of the throttle can be modified and the character of the transmission is tweaked.

In 2022, a special version of Polestar 2 was released as a Polestar Engineered product: the limited-production Polestar 2 BST edition 270, of which only 270 will exist.[26]

Upcoming cars

File:Polestar O2 001.jpg
Polestar O2 Concept

The marque has announced new models debuting starting in 2022. This entails the introduction of the Polestar 3, followed by the 4 and 5 in the following years.[27][28][29] On 25 February 2020, Polestar unveiled the Precept concept car. It was expected to debut at the 2020 Geneva Motor Show,[30] however the event was cancelled due to the COVID-19 pandemic. It is expected to be launched in 2024 as the Polestar 5.[31]

In March 2022, Polestar launched a roadster concept named the Polestar O2, and later in August 2022, Polestar announced a sixth new roadster model dubbed Polestar 6 based on the O2 concept car, expected to enter production in 2026.[32][33]

Racing

Polestar has been working with Volvo since 1996, starting with racing Volvo cars and being involved in the development of race cars for Cyan Racing. In 2014, Polestar was involved in the development of a V8 powered Volvo S60 that was raced by Garry Rogers Motorsport in the Australian V8 Supercars series.[34] Robert Dahlgren was seconded to Australia in 2014 as part of this programme and pulled out in the end of 2016.[35]

Logo dispute and ban in France

The French Citroën company considered that the Polestar company logo – also formed of chevrons – is too close to those of its Citroën and DS Automobiles brands. In the absence of an amicable agreement, Citroën took to the Tribunal de grande instance in July 2019. The latter, in a decision dated 4 June 2020, found in favor of the French manufacturer,[36] decision confirmed on appeal on 14 June 2020. December 2021. As a result, Polestar vehicles cannot be purchased in France.[37] In September 2022, it was reported that Citroën and Polestar had settled their dispute.[38]

Other ventures

In August 2022, the company announced it would supply batteries to Candela for electric boats that would "fly" on hydrofoils.[39]

See also

References

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External links

Template:Polestar

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