Volvo Cars announced on Friday that it intends to distribute 62.7 percent of its holding in Polestar to Volvo Cars’ shareholders.
By: John Sempill Photo: Polestar/Volvo (montage)
Published: 2024-02-23 Updated: 2024-02-23
The proposal was tabled at the annual general meeting in 2024 and subsequently means that Volvo Car’s shareholding in Polestar – if the proposal is approved by the shareholders – amounts to an ownership stake of 18 percent.
Subsequently, Volvo Cars will no longer provide additional funding to Polestar, with the intention of focusing on the “next phase of its transformation”.
A continued collaboration between Volvo Cars and Polestar will however take place, around research and development, manufacturing, aftermarket and commercial operations.
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