The Polaris missile system was phased out in the mid-1990s. It's not even mentioned in the article. The parents say the meaning of Polaris for them is the North Star. That's what I would think too, seeing/hearing the name now. There's also a US-based company called Polaris that makes off-road and alternate terrain vehicles, but I'm not sure it's well known internationally.
I'd pronounce it po-LAH-ris rather than po-LAIR-is, though. It's an out there name, but not a terrible one - if FuturePolaris doesn't doesn't love the name, there's always Po, Pola, Polly, Lari, Lara, Ari, etc.