Is the end of Polestar near?

Many people know Polestar from the 2 Series, which sold quite well in the Netherlands. Enthusiasts also know the brand as Volvo’s in-house tuner. Although Polestar has been an independent brand for many years, Volvo has still been a major financial backer.

Now Volvo has released the news that the company will stop investing in Polestar. Volvo Cars now owns almost 50 percent of the shares. The brand will increasingly become the property of the parent company Geely.

Defeat at Polestar

Things haven’t been going well at Polestar for some time. The brand is making significant losses and 450 jobs were cut this week. It is unclear why Volvo Cars is now deciding to stop investments. Logically, the company no longer sees a future in the brand. Autovisie is still waiting for a response from Polestar.

A new model

Although Polestar is not doing well financially, the brand is introducing a new model (for the European market). In the video below we introduce you to the 4.