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Maroc Maroc - NEWMOBILITY.NEWS - A La Une - 04/Mar 11:25

Polestar secures €420 million and investigates relocating production

Swedish-Chinese electric carmaker Polestar has secured a new loan of up to $450 million (€420 million) as it grapples with ongoing financial pressures and strives to turn a profit by 2026. Local Chinese media also reported that the company aims to downscale its Chinese operations and relocate production to South Korea, Europe or the US. The struggling EV brand also renewed a $500 million (€480 million) Green Trade Finance Facility (TFF), a financial instrument designed to support its working capital requirements.  Continue reading at newmobility.news.

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