Polestar secures US$600m loan from Geely unit | Automotive World
Skip to content
Polestar has secured a subordinated term loan facility of up to US$600m from a subsidiary of Geely Sweden Holdings
Polestar has secured a subordinated term loan facility of up to US$600m from a wholly owned subsidiary of Geely Sweden Holdings, providing the electric vehicle brand with funding for general corporate purposes. The final US$300m of the facility would require lender consent based on Polestar’s future liquidity needs.
The credit agreement comes as Polestar, which is listed on the Nasdaq exchange, continues to navigate a challenging market for electric vehicle manufacturers. Geely Sweden Holdings is part of Zhejiang Geely Holding Group, which holds a stake in Polestar alongside Volvo Cars.
Source: Polestar
Join our LinkedIn Group
Let us help you understand the future of mobility
“*” indicates required fields
Welcome back , to continue browsing the site, please click here
We use cookies to ensure that we give you the best experience on our website. If you continue to use this site we will assume that you are happy with it.
