Polestar receives $600 million loan support from Geely

Polestar recently announced that it has signed a loan agreement with its controlling shareholder, Geely Holding Group, for up to $600 million to address its cash shortage. This is the second major funding injection following a $200 million equity investment five months ago. Despite Polestar's lackluster performance in the Chinese market, Geely appears not to have given up on the brand.