With brands like Mercedes' AMG in its sights, Volvo is said to be readying its own performance division.

Volvo is best known for safety and two-box designs, but the Swedish automaker is said to be considering a deviation from its norm. With brands like Mercedes' AMG in mind, Volvo is said to be considering a performance division of its own.

According to Britain's WhatCar, Volvo is seriously considering a performance brand of its own that would rival the likes of Mercedes-Benz' AMG and BMW's M. The first model to get the performance treatment would likely be the company's C30 hatchback.

Volvo has teased the idea of a hotter C30 before in the form of the Polestar Performance-tuned C30 Performance Concept Prototype. That vehicle developed 405 horsepower from a turbocharged five-cylinder engine, sending power to all four wheels via a Haldex AWD system.

If given the green light, Volvo's performance division would adopt the PCP nameplate. The C30 PCP would be the first vehicle produced by the division, with production limited to 500 units. That exclusivity would come at a price, though, with the road-going version of the C30 PCP expected to list from ?'50,000 ($80,420).

If the PCP gets the go-ahead, Volvo will eventually offer a performance variant of every model in its lineup.

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