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Polestar

Dalam perubahan strategik, Volvo Cars telah mengumumkan keputusannya untuk menghentikan pembiayaan Polestar Automotive Holding, jenama kereta mewah yang dimiliki bersama oleh Volvo dan Geely Holding. Volvo, yang memiliki kira-kira 48% saham Polestar, menyaksikan sahamnya melonjak lebih dari 30% pada pembukaan pasaran selepas pengumuman itu. Para penganalisis telah mengkritik keterlibatan besar Volvo dalam Polestar, menganggapnya sebagai bebanan sumber untuk pengeluar automotif Sweden tersebut.

Polestar, seperti jenama kenderaan elektrik (EV) baru lain, menghadapi cabaran, terutamanya dengan ketatnya persaingan di pasaran EV yang ditonjolkan oleh perang harga Tesla. Baru-baru ini, jenama itu gagal mencapai sasaran penghantaran yang dikurangkan untuk tahun 2023. Sejak menjadi syarikat awam pada Jun 2022 melalui penggabungan dengan syarikat pemerolehan tujuan khas (SPAC), saham Polestar merosot lebih dari 83%.

Keputusan Volvo Cars untuk menghentikan pembiayaan Polestar telah membawa kepada Geely Holding yang mengambil tanggungjawab untuk jenama mewah yang sedang berjuang itu. Pembangunan ini telah memacu kenaikan yang ketara dalam saham Volvo, meningkat lebih dari 30% pada pembukaan pasaran. Walaupun terdapat pertimbangan untuk mengedarkan saham Polestar kepada pemegang saham Volvo, Geely Holding menyambut baik keputusan itu, berjanji untuk menyediakan sokongan operasi dan kewangan kepada Polestar tanpa mengurangkan pegangan sahamnya dalam Volvo Cars.

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In a strategic shift, Volvo Cars has announced its decision to cease funding Polestar Automotive Holding, the luxury car brand jointly owned by Volvo and Geely Holding. Volvo, which owns approximately 48% of Polestar’s shares, saw its stock surge by more than 30% at the market open following the announcement. Analysts have criticised Volvo’s heavy involvement in Polestar, considering it a drain on resources for the Swedish automaker.

Challenges for Polestar in a Competitive EV Market

Polestar, like other new electric vehicle (EV) brands, has faced challenges, especially with the intensifying competition in the EV market, highlighted by Tesla’s price war. The brand recently fell short of its reduced delivery targets for 2023. Since going public in June 2022 via a merger with a special purpose acquisition company (SPAC), Polestar’s shares have declined by over 83%.

Geely Takes the Reins, Volvo Shares Soar

Volvo Cars’ decision to relinquish funding for Polestar has led to Geely Holding taking on the responsibility for the struggling luxury brand. This development has fuelled a significant surge in Volvo’s stock, rising over 30% at market open. While there were considerations of distributing Polestar shares to Volvo’s shareholders, Geely Holding has welcomed the decision, committing to providing operational and financial support to Polestar without reducing its shareholding in Volvo Cars.

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Polestar, the Swedish automotive brand, took centre stage at the IAA Mobility 2023 event in Munich, where they unveiled the awe-inspiring Synergy electric fantasy supercar. What makes this unveiling even more captivating is that the Synergy is a fusion of three winning designs from the recent Polestar Design Contest, making it a true testament to the power of innovation and collaboration.

Out of a staggering 600 entries in the competition, the judging panel selected two winning designs for the exterior and one for the interior, setting the stage for the birth of the Polestar Synergy. Over six months of intensive collaboration between the visionary contest winners and the talented Polestar Design team resulted in a harmonious union of three distinct design visions.

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Polestar, the high-performance electric car company owned by Volvo Cars and Geely, announced last year that it would be launching one new model each year starting with the Polestar 3 in 2022. It’s now 2023 and the next model is the Polestar 4, which is positioned between Polestar 2 and Polestar 3 in terms of size and price. The company estimates launch pricing to be from 60,000 euros (equivalent to RM291,180 today).

Production is planned to begin in Hangzhou Bay, China, from November this year, with the first cars being delivered to customers in the country. A full-scale launch for other markets, including in Europe, North America and Asia Pacific, is planned for early 2024 – with sales and production ramping up for these markets through the course of the year.

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Swedish automotive powerhouse has released another beautiful addition to their portfolio. This is the second BST car to be manufactured and it will be limited to only 230 units.

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Polestar is updating its 5-door electric performance fastback, the Polestar 2, with major changes for the 2024 model year. Orders for the car, priced from 50,190 euros (about RM234,000) in Germany, are now being accepted online in certain with first deliveries to start during the fourth quarter.

The major update for the compact EV is not only confined to cosmetic changes but there are also substantial performance increases with all-new electric motors, even more powerful batteries, sustainability improvements and, for the first time in a Polestar, rear-wheel drive.

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Besides the Smart Eye occupant monitoring system that Polestar will be installing in its Polestar 3 SUV model, the carmaker will also have enhancements and developments in its other models soon. These new features are being showcased by Google at CES 2023 in Las Vegas this weekend.

The developments include Google’s new HD map, and the roll-out of remote actions for Polestar 2. “These developments are the direct result of our strong relationship with Google and show the advantages of integrating the innovative Android Automotive OS in our cars,” said Thomas Ingenlath, Polestar’s CEO.

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Today’s driver assistance systems help the driver to be aware of dangerous situations as well as act autonomously to prevent accidents. These active safety systems use advanced and sophisticated sensor technology with radar and cameras scanning ahead and around the vehicle all the time.

But as the saying goes, it’s not speed that kills but rather the person behind the wheel. And the next step in driver assistance systems is to look inwards at the driver. Polestar is one of the companies that will be offering a driver monitoring technology by Smart Eye as standard in its Polestar 3 SUV.

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Eventually, every carmaker adds a SUV to their range, a trend which started in the 1990s and reached the pinnacle of the car market in 2018 when even Rolls-Royce introduced a SUV it calls the Cullinan. Now Polestar, the company owned by Volvo (which is owned by the Geely Group), has finally come out with its SUV, the Polestar 3.

As Polestar produces only battery electric vehicles, the Polestar 3 is therefore powered only by electricity, no combustion engine or even hybrid option. And like other carmakers who make their SUVs in the USA because of the huge market for such vehicles, Polestar is also going to make its SUV there although production will be done in China during the first year and shift to America in 2024. Its other models are presently made in China and Sweden.

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BHPetrol

Polestar’s O2 concept shown in March 2022 received such positive and strong response that the Swedish company (part of the Geely Group) has decided to put it into production. The roadster model will be called the Polestar 6 and is expected to make its debut in 2026. Online bookings are now being accepted in markets where the brand has representatives.

2026 Polestar 6 EV

884 ps/900 Nm electric powertrain
The carmaker makes only battery electric vehicles (BEVs) and the Polestar 6 will have the high-performance, 800V architecture already confirmed for the Polestar 5. This will be able to generate up to 650 kW (884 ps) and 900 Nm from a dual-motor powertrain. The carmaker is targeting a 0 to 100 km/h time of 3.2 seconds, with a top speed of 250 km/h. 

When it was presented as the O2 concept, the electric roadster was said to build on the design, technology and sustainability ambitions laid out by the Precept, showcasing the brand’s vision for future sportscars.

“With the overwhelming consumer and press response, we took the decision to put this stunning roadster into production and I am so excited to make it a reality,” says Thomas Ingenlath, Polestar’s CEO. “Polestar 6 is a perfect combination of powerful electric performance and the thrill of fresh air with the top down.”

The hardtop convertible will be built on Polestar’s bespoke bonded aluminium platform. It’s unlikely that the integrated autonomous drone will be included in the production model. This was a special feature with the O2 concept where a drone could be launched from the car and follow it, autonomously recording video from above and around it.

LA Concept Edition
To celebrate the launch, 500 numbered units of a special ‘Polestar 6 LA Concept Edition’ are to be produced. They will exclusively feature the unique ‘Sky’ Blue exterior, light leather interior and unique 21-inch wheels of the original O₂ concept.

2026 Polestar 6 EV
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