Volvo stops funding Polestar electric sports car brand amid cooling EV market
Volvo Cars announced Thursday that it will end funding for electric sports car brand Polestar Automotive. new york post report. Volvo shares soared more than 30% after the company announced it would withdraw funds from its subsidiary. Polestar could be handed over to China-based Geely Holding, Volvo’s largest shareholder. CNBC It was reported that Geely […]
Volvo cuts off Polestar funding despite fact it helped pioneer electric cars
Volvo said Thursday it has cut off funding for its electric vehicle subsidiary Polestar — despite the fact that it was one of the first automakers to embrace electric vehicles. Shares in the Swedish automaker soared more than 30% on Thursday as the company declared Volvo Cars was “committed to concentrating resources and developing an […]
Tesla, Volvo pause production in Europe amid Red Sea shipping crisis
Sen. Markwayne Mullin (R-Okla.) spoke to the Iowa caucuses on the “bottom line” in response to the U.S. and British military's launch of an offensive against the Houthis in Yemen. tesla and volvo announced last week that it would suspend some production in Europe due to parts shortages caused by shipments being rerouted from the […]