[10][11] The brand originated from Flash Engineering, a Swedish motorsport team established in 1996 that competed in the Scandinavian Touring Car Championship.

[16][17] Polestar shares began trading on the Nasdaq exchange under the symbol PSNY on 24 June 2022.

Volvo eventually bought the company in July 2015 and began selling Polestar-enhanced models directly through their resellers.

It will also replace the existing front grille with a body-color front-end treatment that houses new safety hardware, including a front-facing camera and a new mid-range radar, matching the Polestar 3, dubbed the "SmartZone".

[37][38] In February 2024, Volvo (itself 79.5% owned by Geely at the time) announced that it would attempt to reduce its ownership stake in Polestar from 48% to 18%, by transferring US$921 million of stock to its shareholders.

[2] This would result in PSD Investment (Geely founder Li Shufu's personal company[39]) becoming the largest shareholder with at least a 39% stake.

[3] The free float also rose to about 18% of shares at that time,[3] signifying that Volvo's February plan had been substantially realized.

Examples are engine optimizations with retained warranty and unchanged fuel consumption and emissions.

In 2014, Polestar was involved in the development of a V8 powered Volvo S60 that was raced by Garry Rogers Motorsport in the Australian V8 Supercars series.

[51] In August 2022, the company announced it would supply batteries and charging hardware to Candela for electric boats that would "fly" on hydrofoils.