Polestar (PSNY) Delivers 10,000th Vehicle

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Go back to Polestar (PSNY) Delivers 10,000th Vehicle

Polestar Obtains USD 1.6bn Financing Support From Major Shareholders

November 3, 2022 8:00 AM EDT

GOTHENBURG, Sweden--(BUSINESS WIRE)-- Polestar Automotive Holding UK PLC (Polestar or the Company, Nasdaq: PSNY), the Swedish electric performance car brand, announces that it has received further commitments for financial and liquidity support from its two major shareholders.

Volvo Cars is providing USD 800mn principal amount 18-month term loan, with an equity conversion option for Volvo Cars. This loan amount is on par with the direct and indirect financial and liquidity support that Polestars other major shareholder, PSD Investment, is providing.

We welcome the continued support from our major... More