Though "sexy" electrification has always been a tenet of the Polestar badge under Volvo, the reshuffling of the brand, and its leadership team, indicates Volvo sees opportunity in the high-performance electric vehicle market.
"We have to recognize that Tesla has managed to offer such a car for which people are lining up," Samuelsson told a German newspaper in May. "In this area, there should also be space for us, with high quality and attractive design."
Tesla has been the dominant player in the luxury electric vehicle market thus far, while BMW has been offering its own variants with the i brand, and new startups such as Faraday Future and Lucid Motors are also trying to enter the space.
Volvo is tapping inside talent to ensure Polestar will be competitive. Thomas Ingenlath, Volvo's senior vice president of design, will be the CEO of the Polestar brand, with Jonathan Goodman, Volvo's senior vice president of corporate communications, serving as COO. Ingenlath has been credited with the sleeker and sportier designs of the scalable product architecture models, which includes the new 90 series vehicles and the recently launched XC60.
"If Volvo can leverage their practicality while making the new brand more emotional, they could do very well," Lindland said.
Douglas A. Bolduc contributed to this report.