Image of the Polestar 1 concept courtesy of the Volvo.

Image of the Polestar 1 concept courtesy of the Volvo.

Volvo’s Polestar performance unit unveiled its first production unit in Shangai, which is a  plug-in hybrid vehicle that offers 600 hp.

The Polestar 1 is a two-door four-seater hybrid coupé with a pure electric range of approximately 93 miles, according to the automaker. Volvo and Chinese parent company Geely Holding will jointly invest $756 million in the development of the brand, including establishment of a Polestar manufacturing facility in Chengdu, China.

The Polestar 1 will go into production at the Chengdu factor in 2019, and will be closely followed later in 2019 by a smaller vehicle named Polestar 2, according to the automaker.

Approximately half of the technology that goes into the Polestar 1 is based on Volvo's in-house developed modular vehicle architecture, according to the automaker. The other half is new, custom technology created by Polestar engineers working within Volvo's R&D department.    

The Polestar 2 will be the first fully-electric car launched by Volvo Car Group, and the first of a total of five fully electric Polestar- or Volvo-branded vehicles to be launched between 2019 and 2021, according to the automaker.

 Volvo Cars announced earlier this year that from 2019 every new Volvo-branded car launched will have an electric motor.