Zhejiang Geely Holding Group, Volvo Car’s parent company, makes Polestar vehicles. Volvo and Geely Holding announced plans for Volvo to transfer Polestar ownership in 2024, likely to Geely Sweden Holding subsidiary. Wall Street analysts have criticized Volvo for its ownership stake in Polestar, saying that it’s a drag on Volvo earnings. Geely says the company fully supports Polestar as an independent brand, giving the Chinese automaker a foothold in the United States.
Volvo bought Polestar in 2015 and established the Gothenburg, Sweden-based brand two years later as a standalone performance electric vehicle manufacturer. Before Polestar became a standalone car brand, it made a name for itself by tuning Volvo cars for higher performance.
The Polestar 1 launched for the 2020 model year. While Polestar’s plant in Chengdu, China, makes many of its vehicles, the Polestar 3 SUV will be made in an assembly plant in Ridgeville, South Carolina, that it shares with Volvo.
List of 2024 Polestar Cars and SUVs
- 2 sedan
- 3 SUV
- 4 SUV coupe
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