Volvo and Geely unveil new 'Polestar' electric vehicle brand
Wed 18 October 2017 | Back to news list
Volvo and the Chinese manufacturer Geely have announced the launch of a new brand - Polestar - and the launch of a new vehicle - Polestar 1 - a plug-in hybrid vehicle with extended electric range. Meanwhile, in a separate manufacturer alliance Mazda, Denso and Toyota have signed a contract to jointly develop basic structural technologies for EVs.
Polestar unveiled its first car at the Shanghai Motor Show, a high-performance coupe powered by a hybrid petrol-electric drivetrain with a claimed 93-mile range on electric power alone. The makers say that when the engine is combined with the electric power system, the car will be able to produce 600hp, taking it into the realm of high-performance vehicles.
Volvo and Geely are investing £570m into the project, with two future Polestar models planned over the next four years, one a small hatchback aimed at competing with Tesla’s Model 3, and an SUV.
Production volumes of later models are forecast to be “in the five-digit range” , according to Jonathan Goodman, chief operating officer of Polestar, reported in the Daily Telegraph.
Although the Polestar 1 will have a selling price of between £130,000 and £150,000, the company says it expects to break away from current ownership models, instead using a two- or three-year subscription system that includes servicing, and which will be marketed and sold almost entirely online.
In a separate development, Mazda, Denso and Toyota have signed a contract to jointly develop basic structural technologies for EVs. The three companies have also decided to establish a new company consisting of selected engineers from each company to ensure the efficient implementation of the new projects.
According to Charged.EVs, the agreement covers a diverse range of models, from minivehicles to passenger vehicles, SUVs, and light trucks, and aims to innovate the development process by combining the strengths of each company, including Mazda’s bundled product planning and prowess in computer modeling-based development, Denso’s electronics technologies, and the Toyota New Global Architecture (TNGA) platform.
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