Volvo Cars is cutting funding to Polestar, with their mutual parent Geely to assume full responsibility for the electric vehicle (EV) brand.
“As we move into the next phase of our transformation, including deploying large-scale investments in the creation and adoption of new technologies and future-fit production facilities, our focus is on developing Volvo Cars and concentrating our resources on our own ambitious journey,”
Volvo Cars said in a statement.
Polstar isn’t going away Volvo will be focusing on rolling out its own EV’s.
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