Polestar Secures Additional Funding for Electric Vehicle Expansion
Polestar has announced new funding to support the development of its electric vehicle lineup. The automaker has secured a 12-month loan facility of up to $450 million, in addition to renewing a European Green Trade Finance Facility for 480 million euros. The source of the funding includes a syndicate of global banks.
2025 Polestar 3
Polestar’s financial stability is crucial as it aims to recover from a decline in share value post-IPO and missed delivery targets. The company, known as “born in Sweden,” primarily manufactures its vehicles in China with Volvo’s support for development. Former CEO Thomas Ingenlath was succeeded by Michael Lohscheller in 2022.
2025 Polestar 4
Polestar’s expansion plans include the release of the Polestar 5 fastback and a small SUV named the Polestar 7. The Polestar 3 electric SUV, manufactured in South Carolina for the U.S. market, has already made an impact. The upcoming models aim to broaden the brand’s appeal in the competitive electric vehicle market.