Geely is looking to spend big bucks to ensure its EV performance brand gets the head start it needs to become a global player in the electrified performance market. It, together with its subsidiary, Volvo Cars, have announced that they will jointly invest RM3.18 billion to support the initial phase of Polestar’s development.
This investment will ensure that the newly formed sub-brand (Polestar) of Geely will be able to develop a strong product portfolio as well as have a state-of-the-art facility to build these vehicles. Apart from this, Polestar will also benefit from being able
to rummage through the treasure trove that is Volvo designs and technology.
Volvo Cars and Polestar will continue to enjoy a symbiotic relationship that will see them working together on next-generation technologies, bear shared procurement costs, joint development and economies of scale. Unlike Volvo, Polestar has been chosen to spearhead Geely’s charge for EV dominance by producing enticing EV products.
Rather than start from scratch, Polestar will benefit from Volvo Cars’ technology and take it to the next level, at least that is what they hope to do. But based on what we know so far, Polestar vehicles will closely resemble that from Volvo, albeit they will feature high performance electrified drivetrains rather than the current petrol and diesel ones.