EV maker Polestar in talks on new fund raising -CEO

Auto Shanghai show in Shanghai
FILE PHOTO: Visitors check a Polestar 1 hybrid vehicle displayed during a media day for the Auto Shanghai show in Shanghai, China April 19, 2021. REUTERS/Aly Song

April 19, 2021

SHANGHAI (Reuters) – Swedish electric vehicle (EV) brand Polestar, which is controlled by China’s Geely, is in early talks about a new round of fund raising, its chief executive Thomas Ingenlath told Reuters on Monday.

Ingenlath was speaking at the Shanghai auto show. Polestar, which is making vehicles in China’s eastern city of Taizhou, raised $550 million from investors last week.

Asked whether Polestar planned to go public, Ingenlath declined to confirm any plans but said “there are options on the table.”

(Reporting by Norihiko Shirouzu and Yilei Sun; Editing by Susan Fenton)