CEO Thomas Ingenlath details Polestar's future after Volvo's "non-dramatic" divestment
The Polestar 2 electric crossover won’t be directly replaced by a like-for-like successor when it reaches the end of its planned life, instead being succeeded by a substantially different new car called the 7. Since arriving in 2020 as the Geely-owned Swedish brand’s second production car, the electric car has topped 150,000 sales in 26 markets worldwide, and it was recently extensively updated with new drivetrain configurations and technical functionality.
Volvo’s reduction of its stake in Polestar came around a fortnight before Polestar confirmed it had received $950 million in new external funding – in the form of a three-year loan – and Ingenlath lamented that the headlines came in the wrong order.
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