Polestar receives $200 million equity investment

Polestar Automotive received a $200 million equity investment from PSD Investment Limited, which is actually controlled by Li Shufu, the founder of Geely Holding Group. The investment was completed through a private placement in the open market. After the transaction is completed, Li Shufu's shareholding ratio through PSD and Geely's Swedish subsidiary will increase to 66%, and Volvo Cars' shareholding ratio will be reduced from 18% to 16%. The funds obtained this time will be used to meet Polestar's working capital needs and general corporate purposes.