Polestar secures new US$950m loans, embarks on cost-cutting
Despite eight years in the market and the backing of Chinese giant Geely, Polestar has had to secure an additional US$950m in loans, including US$450m in 12-month loans, to “finance the next stage of its development” as it struggles to drum up demand for its electric vehicles. The struggling automaker subsequently delayed its Q4 2024 results into April, after already having delayed them into March previously.
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Originally posted on: https://www.automotiveworld.com/news/polestar-secures-new-us950m-loans-embarks-on-cost-cutting/