It marks the first glimpse of Polestar's future as Volvo's performance electric auto arm, following Volvo's announcement this summer that the carmaker will phase out traditional combustion engine cars from 2019.
Polestar's second auto, Polestar 2, will be a fully electric vehicle created to compete directly against the Tesla Model 3, Volvo said.
The first will be the Polestar 1, a futuristic-looking plug-in hybrid sports coupe capable of churning out a total 600 horsepower and 737 lb-ft of torque between the two electric motors powering its rear wheels and the 2.0-litre Drive-E gas four-cylinder underhood.
The Polestar 2 will be the first fully electric auto launched by the Volvo auto Group, and the first of a total of five fully electric Polestar or Volvo-branded vehicles to be launched between 2019 and 2021.
Notably, Polestar will not make cars for traditional ownership - rather it said it will offer vehicles on a two or three year subscription basis. Monthly payments will include costs such as maintenance and insurance and even the temporary use of rental cars.
"Being part of the Volvo Car Group enables Polestar to design, develop and engineer our cars using the processes of a well-established car company but at the same time, enables us to experiment with new technology in lower volume cars outside the mainstream segments".
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In it's previous life, Polestar was a hard-to-find high-performance brand under Volvo Cars.
Order books for the Polestar open today, with future customers also able to express their interest from today. Fitted to the rear axle is a double-electric motor system driving both rear wheels through a planetary gear set to produce 218bhp. The Polestar 3, a larger, fully-electric SUV will complete the lineup at a later date.
Further on down the line, the Polestar 3 will be a fully-electric SUV that's likely to go head-to-head with the Tesla Model X. The Polestar 1 and subsequent models will only be offered on an "all-inclusive" two- or three-year plan.
But the Polestar 1 is about what's under the skin.
The company also announced that all future cars will have a full electric powertrain.
Volvo, owned by Zhejiang Geely Holding [GEELY.UL], bought Polestar in 2015 and relaunched the brand as a stand-alone electric vehicle business in June this year.
Interested customers can order and configure their Polestar cars online via a Polestar app or online portal. Featuring 600hp, 1000Nm of torque and tweaked S90 styling, it's one of the most exciting, unexpected hybrid cars we've seen. The debut is imminent - set for October 17 - and Polestar has chose to nearly fully complete the initial teaser image that had puzzle-like pieces missing.