Polensky was the youngest of four sons. After leaving school and finishing military service, he began a career as a professional motorcycle and auto racer. He spent the last decades of his life in Saint-Tropez.
Polensky began racing motorcycles as a club racer in the mid-1930s.
In 1939, he switched to sports car racing, piloting a used Bayerische Motoren Werke 328. Polensky spent the Second World War as a logistics specialist in Berlin.
In 1945he escaped from a Soviet prisoner of war camp, fleeig to Hamburg. He worked there in 1946 as managing director of a small motor company.
In 1947, Polensky returned to Berlin and in the ruins opened one of the first Vespa dealerships in Germany.
Be also began racing again, designing and in his own workshop consstruting a Formula Three racer with a 500 cc (31 cu in) motorcycle engine, akin to the Cooper 500. Polensky"s first model was the Kurpfalz. This was followed by the Monopoletta, a Bayerische Motoren Werke-powered monoposto.
Polensky raced his Monopoletta throughout the late 1940s across West Germany.
In 1950, he was fifth overall in the West German Formula Three Championship. In the early the 1950s, Polensky began to concentrate increasingly on sports car races.
He entered the Mille Miglia in 1952. Around the same time, he moved his family to Karlsruhe, where he opened a Volkswagen dealership.
He was also eighth overall at the 12 Hours of Reims in 1954.
Polensky entered the 24 Hours of Le Mans three times. He also took the 21st Biennial Cup. In 1956, Polensky quit racing to become a successful automobile dealer.
The same year, he signed as an engineer apprentice with Auto Union, and also joined the National Socialist Motor Corps.