Volvo cuts Polestar funding, as EV startup struggles
Volvo will stop funding Polestar, in a move that will give its parent, China's Geely, greater control of the EV brand. But according to Volvo, in terms clarified on Friday, it won't completely let go. It will retain about 18% of Polestar shares, while the rest of it will go to Volvo's shareholders—allowing its majority owner Geely to boost...
Volvo will stop funding Polestar, in a move that will give its parent, China's Geely, greater control of the EV brand. But according to Volvo, in terms clarified on Friday, it won't completely let go. It will retain about 18% of Polestar shares, while the rest of it will go to Volvo's shareholders—allowing its majority owner Geely to boost... What's Your Reaction?
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