![Polestar gets $1.6 billion in financing from major shareholders](https://i-invdn-com.investing.com/trkd-images/LYNXMPEIA20HD_L.jpg)
© Reuters. FILE PHOTO: Polestar 2 is displayed at a car show in Oslo, Norway, November 10, 2021. REUTERS/Victoria Klesty
(Reuters) – Electric vehicle maker Polestar said on Thursday it had obtained $1.6 billion in financing support from its two major shareholders to ensure the firm’s growth plans in a time of volatile markets.
Volvo Car, which founded the brand, would provide a $800 million loan to the firm. Its other major shareholder, PSD Investment, would provide the same amount through “direct and indirect financial and liquidity support”.
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