Polestar (PSNY) names Volvo EV propulsion expert as new CTO

Swedish electric automaker, Polestar (NASDAQ: PSNY) has named Volvo’s head of electric propulsion, Lutz Stiegler, as the company’s new chief technology officer, replacing Joerg Brandscheid.

Stiegler, has more than 25 years of experience in the auto technology industry, spending the last ten years as head of electric propulsion for Volvo.

During his time at Volvo, Stiegler was responsible for the product development for all software and hardware used in the company’s electric powertrains.

Before that, Stiegler dedicated nearly twenty years to the German engineering firm IAV, culminating in a position as the company’s Vice President of Powertrain Development.

"Performance and innovation are key ingredients in Polestar's cars," said Polestar CEO Thomas Ingenlath.

"Lutz will lead the development of these characteristics with his excellent expertise in BEV technology and deep knowledge of e-powertrains."

Stiegler will take his new position on December 1st.

Shares of PSNY are up 7.03% in afternoon trading Tuesday.

By Michael Elkins | [email protected]

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