Despite their off-putting price and still significant difficulties in charging them at dedicated points, Tesla cars enjoy unwavering interest. However, they will face interesting competition from Volvo, which has decided to surprise the market once again.
Recently, Volvo's management announced that it is spinning off the Polestar sub-brand, which will be responsible for the development and sale of electric cars. Just as Toyota created the Lexus brand, and the Renault Group revitalized the consumer-favorite Dacia.
It seems, however, that the new plans for Polestar go far beyond creating a new brand. Until now, it was a sub-brand dedicated to high-performance Volvo cars and competed with, among others, BMW vehicles with the M badge, or Mercedes AMG models.The group's plans are much more far-reaching - Volvo Cars wants Polestar to be an independent brand offering high-performance electric cars. The brand is therefore to compete for customers choosing Tesla and BMW i cars. The question is whether the market will really react so optimistically to another electric car brand?
Thomas Ingenlath will become the CEO of Polestar; until now, he was Volvo's vice president responsible for design and is one of the fathers of the success of recent models. The Swedes only acquired 100 percent of the shares in Polestar two years ago, but they have been working with the company for more than two decades. Previously, it helped Volvo develop sporty versions of its cars.
