Sumitomo Mitsui Banking Corporation and Standard Chartered Bank Hong Kong completed a $400m investment in Polestar.

Sumitomo Mitsui Banking Corporation, a Japanese multinational banking and financial services institution, and Standard Chartered Bank Hong Kong, a banking company, completed a $400m investment in Polestar, a company specializing in electric cars. “Following the new equity financing and the funding announcements in December, and with the support of Geely Holding, we continue to make progress on enhancing our liquidity position and strengthening our balance sheet. With a record year of retail sales behind us, we are fully focused on creating a stronger Polestar,” Michael Lohscheller, Polestar CEO.