Volvo’s Polestar takes on Tesla Model 3 with an all-electric sedan
LA TimesTesla Inc. has just started building a factory in China with plans to start churning out Model 3s by the end of the year. Pitting the car directly against Tesla “makes it a bit more understandable and clear to the public what this car is,” said Thomas Ingenlath, Polestar’s chief executive. Polestar, formerly Volvo’s performance vehicle division, is a separate brand with a separate reporting structure within Volvo, which is now focused exclusively on all-electric vehicles under its Chinese ownership. For Volvo, the move to electric cars is “a transition,” Ingenlath said, but with Polestar the company is building a new vehicle from scratch. Combining Geely with Volvo and another Geely electric car venture, Lynk & Co., will provide “purchasing power to build up battery production.” Polestar’s first car, the Polestar 1, is a gasoline-electric hybrid.