- Polestar named Michael Lohschelle as its new CEO
- Michael Lohscheller's resume includes Opel, Vinfast, and Nikola
- Volvo spun off Polestar
Polestar has appointed Michael Lohscheller as its new CEO, replacing Thomas Ingenlath, who has led the EV brand since it was spun off from Volvo, following the latter's resignation.
The change takes effect Oct. 1, 2024, according to Polestar. Lohscheller previously served as CEO of Opel, Vinfast, and Nikola, leaving the latter company in September 2023. At the time of publication, his LinkedIn profile listed him as head of the International Motor Vehicle Manufacturers trade group.
2025 Polestar 3 production at Volvo plant near Charleston, South Carolina - Aug. 2024
"Polestar has already established itself as one of the most desirable and innovative brands in the electric vehicle space," Lohscheller said in a statement. "I look forward to working with the talented team to build on this strong foundation and accelerate our development."
Polestar began as a racing team closely aligned with Volvo, evolving into a performance sub-brand for the automaker before becoming a standalone brand in 2017 at the direction of Volvo parent Geely. Sales began in 2019 with the limited-edition Polestar 1 plug-in hybrid coupe, followed by the all-electric Polestar 2 in 2020. The Polestar 2 has been the brand's only model since its launch, but it's due to be joined by the Polestar 3 electric SUV, which started production for the U.S. in South Carolina earlier this month.
Polestar 5 prototype ride
The Polestar 4, a more coupe-like SUV is scheduled to arrive in the U.S. next year, with production for this market being handled by a Renault factory in South Korea to avoid the political complications of the main Chinese production site. The Polestar 5 fastback is also slated to start production next year, followed by the Polestar 6 roadster in 2026. The brand is also testing prototype battery cells it claims can do a 10-80% charge in just 10 minutes.
However, Volvo earlier this year announced that it would stop funding Polestar, while retaining about 18% of Polestar shares, giving Geely greater control of the brand. Polestar missed already-reduced 2023 delivery targets and its share prices have nosedived since going public in 2022 via a merger with a special purpose acquisition company (SPAC).
