Polestar gets $1.6 million of investment from Volvo and another stakeholder. Half of the investment comes from Volvo.
Polestar said on Thursday it had secured $1.6 billion in financing from its two main shareholders to help it deliver its growth plans amid volatile markets.
Volvo, which owns just over 48% in Polestar, said its loan included options for Volvo to convert some of its loans to equity in a potential future equity raising by Polestar. The Sweden-based carmaker said the funding, alongside previously secured resources, would provide the company with sufficient funds through 2023.
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