Polestar Motors secures $400 million in equity investment from Sumitomo Mitsui Banking Corporation and Standard Chartered Bank.

Swedish electric vehicle manufacturer Polestar announced that it has received a $400 million equity investment from Feathertop Funding Limited, a special purpose entity jointly established by Sumitomo Mitsui Banking Corporation and Standard Chartered Bank. Following the transaction, each bank will hold no more than 10% of Polestar's outstanding shares.