Motoring
Volvo Cars to cease funding struggling Polestar electric vehicle business
China’s Geely is preparing more funding for EV maker Polestar as a way to relieve financial pressure on Volvo Car AB
Volvo Cars will cease funding to its lossmaking electric Polestar sub-brand, as it released figures showing that group profits fell 17 per cent last year, it has been reported.
China’s Geely is preparing more funding for struggling EV maker Polestar as a way to relieve financial pressure on another company it owns, Volvo Car AB.
The proposed deal would see Volvo Car transfer some its 48% stake in Polestar to Zhejiang Geely Holding Group Co., ...
