Volvo Cars, Geely investing US$756M to develop Polestar electrified vehicles; Polestar 1 performance PHEV revealed
17 October 2017
Volvo Cars and its owner, China-based Geely Holding, will jointly invest RMB 5 billion (US756 million) to support the initial phase of Polestar’s product, brand and industrial development. Polestar, the fully consolidated Volvo Cars subsidiary, revealed its first production model in Shanghai, the Polestar 1 performance plug-in hybrid electric vehicle. (Earlier post.)
The investment will be used, among other things, to establish a Polestar manufacturing facility in Chengdu, China, marking a new chapter in the development of China as a manufacturing hub for Volvo Cars. This will shorten the time Polestar needs to launch its cars. Volvo Cars and Polestar will also benefit from synergies in the development of next generation technologies such as shared procurement costs, joint development and economies of scale.
Polestar’s first production car, the Polestar 1, is a 600hp two-door, four-seater hybrid coupé. It has a pure electric range of 150km (93 miles). The electrified performance car will go in production in Chengdu in mid-2019, and will be closely followed later in 2019 by a smaller all-electric vehicle named Polestar 2.
The Polestar 1 exemplifies the inherent synergies between the Volvo and Polestar brands. Around half of the technology under the skin of the Polestar 1 is based on Volvo’s in-house developed SPA modular vehicle architecture, while the remaining half is entirely new and bespoke technology created by Polestar engineers working within Volvo’s R&D department.
Its output of 600 hp and 1000 N·m of torque places Polestar 1 firmly in the performance car segment. To reinforce its dynamic driving characteristics, Polestar 1 benefits from a range of new technologies. Polestar 1 is the first car to be fitted with the all-new class-leading Öhlins Continuously Controlled Electronic Suspension (CESi) advanced chassis technology.
A carbon fiber body reduces bodyweight and improves torsional stiffness by 45%, as well as lowering the cars’ center of gravity. Additionally, Polestar 1 uses a double electric rear axle which enables torque vectoring. This supports the driver with precise acceleration on each wheel to keep the maximum road grip and maintain speed while cornering.
Polestar will also benefit from having privileged access to Volvo’s global and well-established manufacturing standards and expertise as it establishes its own manufacturing operations in Chengdu.
The Polestar 2 will be the first fully-electric car launched by Volvo Car Group, and the first of a total of five fully electric Polestar- or Volvo-branded vehicles to be launched between 2019 and 2021. Volvo Cars announced this summer that from 2019 every new Volvo-branded car launched will have an electric motor.
Polestar 2 will be a mid-sized BEV, joining the competition around the Tesla Model 3, and with consequently higher volumes than Polestar 1. The initial phase of the Polestar product roll out will then be completed by the subsequent arrival of a larger SUV-style BEV, the Polestar 3.
Polestar is able to take expressions of interest from prospective Polestar 1 customers immediately.
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