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Country: Sweden

Electric car brand owned by Volvo, itself a member of China's Geely Group


Polestar, an electric car, takes its first steps on Wall Street. 27/06/2022

  • Polestar, the Volvo subsidiary, has raised $890 million to continue its development
  • Its sales target is 10,000 cars in 2020 and 29,000 in 2021.
  • The company has placed a major order for 65,000 vehicles over five years with rental company Hertz
  • Polestar, a new carmaker and pure player in electric cars, is floated on the stock exchange.
  • The deal values the young automaker, born in 2017, at over $20 billion - three times Renault's market capitalization
  • Polestar has a factory in China and is due to launch the Polestar 3 by the end of the year at a plant owned by Volvo

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