The money comes from Feathertop Funding Limited, a joint financing vehicle of Sumitomo Mitsui Banking Corporation and Standard Chartered Bank.
In an agreement with the subsidiary Geely Sweden Holdings, the banks have guaranteed an opportunity to sell their holdings after three years, for a predetermined return.
According to CEO Michael Lohscheller, the capital is part of Polestar's efforts to improve liquidity and strengthen its balance sheet.
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