Polestar earns 950 million dollars, the growth of electric cars – Industry and Analysis

Polestar Automotive Holding, the Swedish high-performance electric car brand, has secured $950 million (€877 million) in funding for its next phase of development. The financing was provided by a group of 12 international banks, including BNP Paribas, Natixis, Standard Chartered, BBVA, HSBC and SPDB, for a three-year loan. “Achieving financing from a consortium of international banks demonstrates the support of our partners in Polestar’s growth journey,” says Thomas Ingenlath, CEO of Polestar.

“With Geely’s full financial support and access to innovative technology and engineering expertise, we have solidified our path to cash flow breakeven in 2025.” “As a strategic partner and direct shareholder of Polestar, Geely will continue to provide full operational and financial support to the high-performance car brand in the future,” highlights Daniel Li, Geely Group CEO and member of the board of directors. Polestar.


   

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