Polestar, a premium Swedish electric car maker, has secured £750m of funding to enable future production and growth plans.
This has come about after Volvo declared a reduction in its shareholding in the company, which looks to reduce its ownership from 48% to 18%.
The loan is to be financed by a host of international banks, while Geely, Polestar’s parent company, aims to support the electric vehicle (EV) brand by ‘participating in future financing activities when required’.
Polestar has an exciting growing line-up of premium performance EVs, which it hopes to ramp up production for in years to come.
Contechs supports Geely and a variety of other leading OEMs with electric vehicle innovations and technology.
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