Volvo Cars, Geely Holding to jointly invest USD760 million in Polestar
Swedish carmaker unveils first model under Polestar called Polestar 1
Volvo Cars and its Chinese parent Geely Holding will jointly invest CNY5 billion (around USD760 million) to support development, production and launch of Polestar brand of vehicles, according to a press release by Volvo Cars on 17 October. The two companies will mainly invest in establishing a new manufacturing plant Chengdu, China.
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