Wednesday October 18, 2017
07:18 AM GMT+8

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SHANGHAI, Oct 18 — When the world's biggest car market says it's getting greener, the auto industry — unsurprisingly — goes in the same direction.

The Polestar 1 is a prime example. The first in a series of premium hybrids by Volvo and its Chinese owner to be in production by 2019.

Polestar CEO Thomas Ingenlath says: “We will establish Polstar as an individual brand. We will use technology that is available within our family, but it will be developed in its own direction.”

The four-seater vehicle aims to rival other green industry players, like Tesla and Mercedes.

The hybrid Polestar 1 car on display during in Shanghai October 17, 2017. — Reuters pic The hybrid Polestar 1 car on display during in Shanghai October 17, 2017. — Reuters pic It's 600 horsepower output can propel the car from nought to 100 km per hour in under four seconds.

It's also available to be bought for one-to-three year subscriptions.

A sign the industry is getting up to speed with changing car ownership habits.

But perhaps not with stagnating incomes.

Ingenlath says: “This car is in the range between 130 and 150,000 euros, which when you look at it is actually a very, very attractive price.”

Volvo is one of many automakers pushing for joint ventures with Chinese firms.

Since Beijing announced by 2025, electric and hybrids must make up at least a fifth of auto sales.

And there's no sign that is slowing down either.

Vehicle sales across China rose in September for a fourth straight month. — Reuters

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