Giddyup: Polestar picks up $600 million in fresh funding

Geely-backed performance EV brand Polestar has had some troubling times in recent months, but its future is looking a whole lot better after the company secured a $600 million loan facility to help it keep on keepin’ on.Despite vehicle sales picking up in 2025 on the strengths of the Polestar EV brand’s Swedish sensibilities, cutting-edge Chinese EV tech, and Volvo-aided safety specs, the company’s financial picture has been anything but rosy, with the threat of having its stock delisted from the NASDAQ looming large at several points.In a vote of broader confidence and better times ahead, Volvo’s parent company Geely Sweden Holdings AB is backing the brand with more than half a billion dollars of fresh funding to extend its operational runway:Polestar, as borrower, entered into a credit agreement with a wholly owned subsidiary, as lender, of Geely Sweden Holdings AB in relation to a subordinated term loan facility of up to USD 600 million, of which the last USD 300 million would require lender consent based on Polestar’s future liquidity needs. The term loan facility is available to Polestar for general corporate purposes.POLESTARThe new funds are just the most recent part of a big week for Polestar –one that saw the Polestar 4 recently begin deliveries to its first North American customers, and recent upgrades to the Polestar 3 have made that car a viable V2G/V2x offering in Europe, as well. With that in mind, it’s no wonder that Geely wants to see how this all plays out.