Polestar gets $1.6 billion in financing from major shareholders By Reuters

(Reuters) – Electric vehicle maker Polestar said on Thursday it had obtained $1.6 billion in financing support from its two major shareholders to ensure the firm’s growth plans in a time of volatile markets.

Volvo Car, which founded the brand, would provide a $800 million loan to the firm. Its other major shareholder, PSD Investment, would provide the same amount through “direct and indirect financial and liquidity support”.