Volvo has been hinting at a new performance range of models developed with its motorsports partner Polestar for the past several years, with things first heating up when the covers came off the C30 Polestar performance concept back in 2010.

The concept was built to showcase the performance potential of Volvo’s C30 and also link the car to its racing cousin, which at the time was being fielded in various forms of motorsports by Polestar.

Since then we’ve seen the bond between Volvo and Polestar grow stronger.

Now the two have presented a new performance concept based on the S60 sedan, one that’s fully capable of competing with the likes of the BMW M3, Lexus IS F and Mercedes-Benz C63 AMG.

Unveiled at the Gothenburg leg of the TTA Swedish racing series today, in which Polestar fields a Volvo S60-based race car, the latest concept draws heavily from its racing cousin and may just see production one day.

Under its hood is the production S60 T6's turbocharged straight-six engine, but with output of the 3.0-liter mill turned up to 508 horsepower and 424 pound-feet of torque. To handle all the extra power, Polestar engineers needed to modify the cylinder head, combustion chambers, inlet manifold and intake, and also install custom connecting rods, a new Garret turbocharger, and a 3.5-inch stainless-steel exhaust system stretching from the turbo back.

In combination with the engine mods, the drivetrain and chassis were also upgraded. The standard gearbox was replaced with a reinforced six-speed manual unit and the Haldex all-wheel drive system was tweaked. The chassis was made wider, increased by 20 mm up front and 40 mm at the rear, and the whole car was lowered 30 mm. Öhlins suspension, reinforced anti-roll bars and 19-inch light alloy wheels make the car suitable for both high performance driving and long distance traveling.

The concept is still quite portly, weighing in at just over 3,600 pounds, but it should have little problem coming to a stop thanks to a set of beefy Brembo brakes with six-piston calipers and 380-mm ventilated discs up front and 302-mm discs at the rear. Other modifications include a custom bodykit and carbon fiber diffuser.

Polestar estimates the special S60 will hit 60 mph from rest in around 3.9 seconds and top out at more than 186 mph.

 “We are proud to present Polestar’s interpretation of the Volvo S60,” Polestar founder Christian Dahl said at the unveiling of the concept today. “It’s a car developed with our own preferences in mind which, we from experience know, are shared by a group of active drivers.”

Though the concept was developed to Polestar’s preferences, it was actually commissioned by a specific client. Depending on demand, a small run of Polestar modified S60s may eventually be built.

“Polestar’s heart and soul is motorsport and our main focus is to deliver the absolute best results for Volvo on the track” Dahl explained.  “But over the years we have also seen a significant increase in demand for Volvo performance cars and parts and naturally we want to respond to this.”