Volvo plans to take on Tesla in the high-performance electric car race after splitting out its Polestar division into a separate brand.
The move signals a further expansion of the global ambitions of the Swedish carmaker’s Chinese owner, Geely Automotive.
Polestar said it would use its close links with Volvo to “design, develop and build world-beating electrified high-performance cars”, although it will have its own management team.
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