Back in June, Volvo announced that it would be letting go of its wholly-owned subsidiary Polestar from its portfolio, with the latter set to become a separately-branded company focusing on electrified high-performance cars.

No timeframe was given then as to when this would take place, but it looks like the moment has arrived, if the simple two-word “The End” post made by Polestar on Instagram is any indication.

It’s still unknown what the first electric Polestar vehicles will be or when they will arrive on the market, but word on the grapevine suggests that they will be based on models from the Swedish automaker’s 60 and 90 series range.

The announcement in June also mentioned personnel changes – Thomas Ingenlath, who is also senior vice president of design at Volvo, will be Polestar’s new CEO, taking over from Nick Connor. Ingenlath will be joined by Jonathan Goodman, who moves on from his position as senior vice president of corporate communication at Volvo Cars to become the COO of the new concern.

Polestar has been Volvo’s motorsport arm since 1996, and was fully acquired by Volvo in July 2015. The current company’s final outing looks to be the optimisation work done on the new XC60 T8, in which powertrain revisions increase the power output by 14 hp to 421 hp.