Polestar Automotive Holding, the Swedish high-performance electric car brand, has obtained financing of 950 million dollars (877 million euros) for the 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, in the form of a three-year loan.
“Achieving financing from a consortium of global banks reflects our partners' support for Polestar's growth journey,” says Thomas Ingenlath, CEO of Polestar.
"Together with Geely's full financial support - he adds - and access to innovative technologies and engineering expertise, we have strengthened our path towards cash flow breakeven expected in 2025".
“As a strategic partner and direct shareholder of Polestar, Geely will continue to provide full operational and financial support to the iconic high-performance car brand well into the future,” highlights Daniel Li, Geely Group CEO and member of the Polestar Board of Directors.
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