Volvo Cars to invest in Polestar.

Volvo Cars, a car brand, is set to invest in Polestar, an electric performance vehicle brand. The stake is being acquired from PSD Investment, the private investment company of Eric Li, Chairman of Volvo Cars. Upon completion, Volvo's shareholding will reach 49.5% once again after the private placement diluted its ownership. Financial terms were not disclosed. "The move reflects Volvo Cars’ strong conviction in Polestar’s positioning and exciting potential in the high growth segment for premium electric vehicles. In recent years, Polestar has made significant progress and has established itself as a pioneer in the global market for high-performance electric vehicles as consumers are increasingly looking to combine e-mobility with their environmental aspirations. At the same time, the technologies behind electric vehicles are rapidly advancing and becoming more economical for consumers," Volvo Cars.