Geely Holdings, Volvo Invest Heavily In Polestar
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Geely Holdings, parent of Volvo Cars, has announced a major investment in Polestar. The first production model was reveled in Shanghai as the announcement came. The $756 million dollar investment will bolster the early phases of Polestar’s product lineup and industrial footprint.
“The investment highlights the financial muscle and industrial and manufacturing expertise Polestar will have access to, and establishes the fully consolidated Volvo Cars subsidiary as a stand-alone electrified performance car company,” Geely Holdings and Volvo Cars said in a statement.
Central Station
The investment dollars will be put toward a new, state-of-the-art Polestar manufacturing hub in Chengdu, China. The investment and corresponding facility will be instrumental in shortening the time it takes to develop and launch Polestar vehicles. The intent is to gain both a time and technical advantage over competitions, especially as Polestar looks to innovate new technologies in both electrification and connectivity. Volvo Cars and Polestar say the investment allows them greater “synergies” when it comes to joint development and economies of scale. Polestar Production Centre in China. Photo: Volvo Cars.
Forthcoming Models
The Polestar 1 is, uniquely enough, the first model scheduled for production in mid-2019. The pure electric coupe hybrid is promising 600 horsepower and class-leading range and efficiency. Muc...
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