How many more are yet to come? Or actually even more interesting (very interesting, even): how many more have to go? Or are we no longer allowed to quote these artists? We sometimes wonder this when a new car brand is introduced again. Because how many car brands does one group actually need? In any case, things are going wrong at adolescent brand Polestar and Volvo is preparing to divest the young brand.
Swedish Volvo has been part of Chinese concern Geely for some time. A few years ago, the parent company decided that Volvo's performance label Polestar could stand on its own two feet and a new car brand was born. That left us wanting more and Volvo also added the sister brands Lynk & Co, Lotus, Zeekr and stepsister Smart. That is already five brands from one Chinese group in the Netherlands, and Geely has even more brands outside our country.
Geely is not the only one with brand greed. Stellantis thinks that in addition to niche brands DS and Abarth, there is still room for Lancia. And while they already have Citroën, Peugeot, Opel, Fiat, Chrysler, Maserati, Alfa Romeo and Jeep. For example, Volkswagen suddenly had to launch another Cupra. We didn't study for it, but it feels a bit much. At BMW, for example, it is a lot clearer, they also have Rolls-Royce and Mini.
Volvo wants to get rid of Polestar
The brand got off to a very good start with the Polestar 1 | Photo: © Polestar
We do not want to claim that the strategy of 'many brands' is by definition doomed to failure, but it is certain that things are not going very well at Polestar. Sales are disappointing and 15 percent of the staff previously had to leave. Volvo is currently the largest shareholder of the sister brand, and the brand would like to lose that shareholder. Even now that Polestar thinks it will no longer make a loss in 2025.
That is why parent group Geely has to open its wallet to take over the shares. It is a complicated construction. According to Automotive News Europe Geely owns 79 percent of Volvo and Volvo owns 48 percent of Polestar's shares – a case of vest-pants pocket. The deal has not yet been completed, but Polestar announces the possible acquisition in a press release.
Too bad to see Polestar like this
The Volvo V60 Polestar that you see above is one of the coolest station wagons ever built. All the Volvos that Polestar touched were all cool things. And that makes it a shame that things aren't going so well now. Because what if Polestar had just remained a label? There is undoubtedly a market for an extra sporty Volvo EX30 with Öhlins dampers.
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