Polestar Teases More Powerful Variants, but Will There Be a Performance Sub-brand?
Polestar Teases More Powerful Variants, but Will There Be a Performance Sub-brand?
Will Polestar’s pursuit of power and performance elevate it to new heights in the electric vehicle industry?
Polestar, the luxury electric vehicle brand with Swedish roots, may be gearing up to introduce some high-performance options. However, it remains uncertain if the company will establish a performance sub-brand.
Following the recent press conference at the 2024 New York Motor Show, Polestar CEO Thomas Ingenlath fielded questions about the possibility of a performance sub-brand. In response, he expressed the brand’s current focus on adding more power options to their lineup. However, whether this will lead to the establishment of a dedicated performance sub-brand remains unclear.
Ingenlath further hinted that more details about Polestar’s approach to power and performance would be unveiled at the Goodwood Festival of Speed. This highly anticipated event is set to commence on July 11, with media events and product reveals typically taking place in the days leading up to it.
While Polestar currently positions itself as a luxury electric vehicle brand, it has a rich history rooted in racing. Originally, the company started as a racing outfit and later transitioned into a tuner for Volvo cars. In 2015, Volvo acquired Polestar, making it their in-house performance sub-brand. Eventually, Polestar evolved into a standalone brand with a focus on plug-in hybrids, and now, pure electric vehicles.
Despite its racing origins, Polestar has yet to release high-performance variants under the standalone marque. The closest the brand has come to embracing its sporting heritage is through the limited edition BST versions of the Polestar 2. While these cars did not offer additional power and torque compared to other models in the range, they did showcase improved handling with lowered suspension and other tweaks, as well as sportier aesthetics.
With the production of the highly anticipated Polestar 3 and Polestar 4 crossovers now underway, Polestar is likely aiming to reshape the media narrative surrounding the brand. The company faced challenges in 2023, falling short of its initial target of delivering 80,000 cars and resulting in a 15% reduction in its workforce. Additionally, Volvo, the brand’s largest shareholder at the time, divested a majority of its stake in February, transferring ownership to parent company Geely.
Despite the setbacks, Polestar managed to secure a substantial capital infusion of US$950 million (A$1.46 billion) from external investors in March, providing a boost to their operations and future plans.
- Polestar CEO Thomas Ingenlath expressed the desire to introduce more power options within the range.
- The CEO hinted at unveiling the brand’s approach to power and performance at the upcoming Goodwood Festival of Speed.
- Polestar originated as a racing outfit and later transitioned into a tuner for Volvo cars.
- As a standalone brand, Polestar has focused on plug-in hybrids and electric vehicles, but has yet to release high-performance variants.
- Limited edition BST versions of the Polestar 2 showcased improved handling and sportier aesthetics.
- Polestar’s production of the Polestar 3 and Polestar 4 crossovers is underway, with potential plans for even spicier models.
- After a disappointing 2023, Polestar has made changes to its workforce and ownership structure.
- The company secured a substantial capital infusion in March from external investors.
As Polestar prepares for the future, the brand’s focus on introducing more power options within its lineup hints at the potential for high-performance variants. While the establishment of a dedicated performance sub-brand remains uncertain, the upcoming Goodwood Festival of Speed may shed further light on Polestar’s approach to power and performance. With the production of the Polestar 3 and Polestar 4 crossovers underway, the company is looking to overcome the challenges it faced in 2023 and improve the brand’s image in the media. The injection of capital from external investors further strengthens Polestar’s position in the market and signals an exciting future for the brand.
