Polestar's Future Uncertain

This is a China news story, published by Wired, that relates primarily to Volvo news.

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Polestar

Wired

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How Do You Solve a Problem Like Polestar?

Summary

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78% Informative

Polestar started life in 2005 as the brand name for a Volvo -tuning, gasoline-powered Swedish motorsports team.

It was transformed into an EV marque when Volvo bought the team 10 years later .

Both have been ultimately owned since 2010 by automotive giant Geely of China .

Polestar could be on borrowed time as a standalone, says Palmer.

Palmer: "I think we're going to see a lot of car companies fail, especially those operating in the premium space" Professor Wells: Consumers don't know what the brand is supposed to represent, and how it is distinguishable from Volvo .

Polestar has been unable to sell enough cars to justify all the costs of manufacturing and marketing costs.

The upmarket part of the auto business is too crowded” for every premium EV brand to survive, Wells says.

This is due at least in part to the brand's relative lack of brand recognition, which is not an issue for Volvo .

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