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Polestar, Volvo And Geely'S Ev Unit, Raises $550 Mn In External Funding

Apr 15, 2021•about 4 years ago
Stockholm

Description

Stockholm: Sweden's Polestar, the electric car maker controlled by Volvo and its parent, the Chinese automaker Geely, has raised $550 million in external funding, the company said on Thursday.

Company Information

Company

Polestar

Location

Stockholm, Stockholm County, Sweden

About

Sweden's Polestar, the electric car maker controlled by Volvo and its parent, the Chinese automaker Geely, has raised $550 million in external funding, the company said on Thursday. The funding will help accelerate product development and output as Polestar prepares to launch new car models in the coming years, the company said in a statement. Chinese investors Chongqing Chengxing Equity Investment Fund Partnership and Zibo led the funding and were backed by South Korean investor I Cube Capital, Polestar said.