The Polestar brand has become synonymous with cutting-edge electric vehicles and Scandinavian design, but understanding Who Owns Polestar Cars requires a journey through its fascinating history. From its roots in Swedish racing to its current status as a global electric car manufacturer, Polestar’s ownership structure is intertwined with automotive giants. Let’s delve into the details to clarify who exactly is behind this innovative brand.
From Race Track to Road: Polestar’s Origins with Volvo
The story of Polestar begins not as a standalone car manufacturer, but as a performance division deeply connected to Volvo. In 1996, Flash Engineering was established, a Swedish racing team dedicated to campaigning Volvo vehicles in the Swedish Touring Car Championship. This team evolved into Polestar Racing, solidifying its role as Volvo’s official performance partner. This partnership saw the development of high-performance Volvo cars for the road, exemplified by models like the 2013 Volvo S60 Polestar. These vehicles showcased Polestar’s engineering prowess and further cemented their relationship with Volvo Cars.
Volvo Acquisition: Polestar Becomes Part of Volvo Cars
The close collaboration between Polestar and Volvo culminated in a significant shift in ownership. In 2015, Volvo Cars fully acquired Polestar. This acquisition marked a new chapter in the history of the Polestar brand, transitioning it from a performance partner to an integral part of the Volvo Cars group. This move was a testament to Polestar’s capabilities and Volvo’s ambition to expand its performance and technological offerings.
The Shift to Electric and Standalone Brand
Another pivotal moment arrived in 2017. Polestar was relaunched, this time not just as a performance arm of Volvo, but as a distinct brand focused on electric and plug-in hybrid luxury vehicles. While still under the Volvo Cars umbrella, Polestar began to forge its own identity. The 2019 Polestar 1, a stunning plug-in hybrid coupe, served as a statement of intent. The Polestar 2, an all-electric luxury SUV, further solidified this new direction, being marketed and sold as a standalone Polestar product, independent from Volvo dealerships.
Geely’s Role: Ownership Beyond Volvo
To fully understand who owns Polestar cars, the ownership structure extends beyond Volvo. Volvo Cars, and consequently Polestar, are owned by Zhejiang Geely Holding Group (Geely Holding), a Chinese automotive company. Geely Holding acquired Volvo Cars from Ford in 2010. Therefore, while Polestar is developed and operates largely independently with its headquarters remaining in Sweden, the ultimate parent company is Geely Holding. This ownership provides Polestar with significant financial backing and access to broader resources and manufacturing capabilities, even though the core design and engineering philosophies remain rooted in Swedish heritage and innovation.
Conclusion: A Multi-Layered Ownership
In conclusion, Polestar cars are owned by Volvo Cars, which in turn is owned by Zhejiang Geely Holding Group. Polestar operates as a distinct brand within this larger structure, focusing on electric vehicle innovation and performance. Understanding this multi-layered ownership clarifies Polestar’s position in the automotive landscape – a brand with a rich Swedish heritage, strong ties to Volvo, and the backing of a global automotive powerhouse in Geely. This unique combination positions Polestar for continued growth and innovation in the rapidly evolving electric vehicle market.
