Back in 2015, Swedish Volvo Cars aquired 100% of Polestar, the electric high performance brand.
Geely – who also owns Lotus, almost half of Proton and 9.7% of Daimler AG is is the parent company Polestar.
Polestar’s brand values are the 3x P’s. ‘Pure. Progressive. Performance’:
Polestar cars are produced in the state of the art manufacturing facility in Chengdu, the most technologically advanced, environment-friendly manufacturing city in Asia. Polestar aims to be the most environmentally responsible car production in China.
in 2020, Bloomberg reported that Polestar raised at least $500 million. Private investors are committed to the growth of the Electric Vehicle market and the stable planning and production of Geely.
Following the same source, Polestar expects a valuation of about $6 billion.
Volvo CEO Hakan Samuelsson is reported to confirm that Volvo is seeking a valuation for Polestar comparable with rival Tesla.
Meanwhile investors are preparing for the Polestar IPO.