Polestar is a Swedish automotive brand established in 1996 by Volvo Cars’ partner Flash/Polestar Racing and acquired in 2015 by Volvo. Geely. Geely describes the brand as “independent” from 2017 onwards and “co-owned” by it and Volvo Cars. It is headquartered in Gothenburg, Sweden with vehicle production taking place in China. The company develops electric performance cars and offers performance hardware upgrades and engine software optimizations for Volvo models through their Polestar Engineered division.
The Polestar name originates from the STCC Polestar racing team which spawned Polestar Performance AB, in turn acquired by Volvo Cars in July 2015. The racing team changed its name to Cyan Racing, while maintaining close ties to both Volvo and Geely, later focusing on Polestar sister brand Lynk & Co.
In June 2017, Volvo announced Polestar would begin producing high-end electric performance cars under its own name and badge. Polestar also functions as an innovation lab for Volvo Cars, developing designs and technologies of a more experimental nature.
In September 2021, Polestar is in deal go to public through a business combination with Gores Guggenheim, a special purpose acquisition company.