Polestar unveiled the Formula 2030 concept car

September 8, 2026, 20:00

Serhii Ivanov – reviewer for autocentre.ua. Specializes in covering major events in the global automotive industry and reviewing new models. An expert in automotive history, author of numerous publications and books on the subject.

Polestar, the Swedish premium electric vehicle brand, officially announced the creation of a new futuristic concept car named Formula 2030. The project aims to showcase the direction of the brand’s design language and provide a glimpse into the next decade. However, the unveiling of this teaser comes amid a severe crisis, with investors and analysts openly questioning whether the brand will even survive until that time. Official reports showed another devastating blow to the company’s valuation: the brand’s shares on European exchanges plummeted by 29.4% immediately following the release of extremely weak financial results for the first half of 2026.

So far, the manufacturer has released only one shaded image of the Formula 2030 concept, showing a low-slung, race-inspired body silhouette and a vertical single-slatted windshield. The design was created by the brand’s new chief designer, Philip Rimers, who aims to evolve the brand’s signature Scandinavian minimalist aesthetic while retaining the Dual Blade dual headlights. The vehicle will serve as both an engineering and visual blueprint for the next generation of the mass-market Polestar 2 liftback (scheduled to debut in 2027) and the future flagship Polestar 7. A closed-door demonstration of the scale model for major shareholders will take place at the headquarters in Gothenburg, with a global online premiere scheduled for the end of the year.

"AC" Note

The modern Polestar brand, which initially developed as an independent Swedish racing studio before becoming a premium sub-brand of Volvo, is now under the full control and oversight of Chinese automotive giant Geely Holding. Despite shared ownership by Geely, Volvo Cars’ shares trade separately on European stock exchanges, and its governance structure along with intellectual property rights for its software are officially vested in Swedish legal entities under Western laws. In contrast, Polestar was established as a direct joint venture between Volvo and Geely, with key engineering patents for its digital multimedia platform and operating system belonging directly to the Chinese side. The U.S. Cybersecurity and Infrastructure Security Agency and the U.S. Department of Commerce have viewed this structure as a direct pathway for potential cyberespionage and remote control of vehicles by governments.

In Beijing. This forced Polestar to lose access to the world’s largest premium market and compelled its management to urgently reorient logistics toward Europe and Asia, trying to offset massive capital losses by accelerating sales of the new Polestar 4 crossover.

Electric Vehicles

Volvo

Geely

Polestar

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