Polestar has raised $950 million in debt financing as the struggling luxury EV maker seeks funding outside of its parent Geely to roll out key new models.
The three-year loan facility from a syndicate of 12 banks will help bridge Polestars path to breaking even on cash flow, the company said Wednesday, a day ahead of reporting full-year financials. The company has been contending with model delays and waning EV demand.
Read the full article at: https://www.bloomberg.com/news/articles/2024-02-28/polestar-raises-1-billion-in-debt-to-help-model-rollout