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EV MAKER POLESTAR GETS $450 MILLION LOAN, DELAYS QUARTERLY RESULTS

  • NEWS Desk Global
  • Feb 28
  • 1 min read



Polestar has secured additional loan funding of up to $450 million, it said on Friday, and would delay its fourth-quarter results to April as the Swedish electric vehicle maker burns through cash in its bid to bolster the business, amid falling demand.

U.S.-listed shares of the company fell 2.7% in premarket trading.

Backed by China's Geely (GEELY.UL), the company has struggled to drum up demand for its vehicles amid a softer buying environment and strong competition.

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