EV Brand Polestar Announces $1.6 Billion in New Financing as its Stock Price Falls Below $5

​Electric performance vehicle brand Polestar, which is jointly operated by Sweden’s Volvo Cars and its parent company Chinese automaker Geely, announced its secured $1.6 Billion in financing from two major shareholders, including Polestar's parent company Volvo Cars, which is providing $800 million as part of an 18-month term loan with an equity conversion option.

Eric Walz2022-11-03 11:50 PT

Volvo’s Electric Vehicle Brand Polestar Reports $1 Billion in Revenue in the First Half of 2022, Adds 6 New Global Markets

​Electric-performances brand Polestar is off to a strong start for the first half of 2022 following a strong Q1 with brisk sales of the Polestar 2 EV. In the first four months of 2022, customer reservations also more than tripled to nearly 23,000 vehicles compared to the same period in 2021.

Eric Walz2022-10-08 13:00 PT

New Premium Electric Vehicle Brand Zeekr Is Exploring IPO Options in the U.S. or Hong Kong, According to Sources

New electric vehicle brand Zeekr Intelligent Technology Ltd. (“Zeekr”), which is owned by Chinese automaker Zhejiang Geely Holding Group ("Geely"), is mulling plans to launch an IPO in either the U.S. or Hong Kong. Geely announced the Zeekr in March 2021 as a standalone brand to compete with Tesla, XPeng, NIO Inc. and others in the premium EV category in China. The company is targeting tech-savvy, younger customers more likely to purchase an electric vehicle.

FutureCar Staff 2022-10-01 12:25 PT

Volvo-backed EV Battery Maker Northvolt, Founded by Former Tesla Execs, Raises Another $1.1 Billion to Help Fund its Expansion

​Sweden-based electric vehicle battery manufacturer Northvolt, a company backed by automaker Volvo Cars, today announced the signing of a $1.1 billion convertible note to fund its expansion of battery cell and cathode material production in Europe to meet the growing demand for EV batteries from automakers.

Eric Walz2022-08-12 15:00 PT

Polestar Shares the First Image of the Polestar 3 Electric SUV Ahead of its October Debut

Electric performance automaker Polestar has announced that the world premiere of its next electric vehicle, the Polestar 3 electric-performance SUV, will be in Oct 2022. The company released the first image of the electric SUV on Tuesday, which will be built at Volvo's factory in South Carolina beginning in early 2023.

FutureCar Staff 2022-07-14 08:25 PT

LiDAR developer Luminar Technologies Hires Ex Apple, Tesla and Nvidia Execs as it Prepares for Growth

Lidar developer Luminar Technologies Inc (NASDAQ: LAZR) recently added ex Apple, Tesla and Nvidia engineers to round out its leadership team as its looks to expand in the auto industry. Among the new hires are CJ Moore, who served for seven years as director of Tesla’s Autopilot software.

FutureCar Staff 2022-07-02 13:50 PT

Polestar Announces Strategic Partnership With StoreDot, a Company Developing Rapid Charging Technology for EV Batteries

Polestar, the new electric vehicle brand operated by Volvo Cars and its parent company Geely, announced a new strategic partnership and investment in Israel-based battery startup StoreDot, a developer of extremely fast charging technology for electric vehicle batteries. StoreDot says it has revolutionized conventional Lithium-ion EV batteries by designing and synthesizing proprietary organic and inorganic compounds for a battery’s anode materials.

Eric Walz2022-06-30 06:50 PT

Volvo’s EV Brand Polestar Reports Record Q1 Sales, its New SUV Will Be Officially Unveiled in October

Electric performance brand Polestar, which is jointly operated by Volvo Cars and its parent company Geely in China, announced record sales in the first four months of 2022 along with a growing number of vehicle orders. Polestar credits its continued global expansion for the rising number of vehicle orders. The company also announced it will officially unveil the new Polestar 3 SUV in October, which will be built in the U.S.

Eric Walz2022-06-26 09:00 PT

Polestar’s 02 Roadster Concept Represents the Future of Electric Performance Cars, it Also Features a Drone for Taking Aerial Driving Footage

Polestar unveiled its O2 Concept car on Wednesday, and it's one of the most striking examples of the future of electric performance. Polestar says the O2 hard-top convertible “redefines sports roadsters for the electric age.” The O2 concept follows the recently unveiled Precept Concept. Both vehicles are designed to showcase the innovation and potential of the electric Polestar brand.

Eric Walz2022-04-08 13:45 PT

With Over $50 Billion in Contracts, Northvolt to Transform a Former Paper Mill in Sweden into a EV Battery Gigafactory

​Electric vehicle battery startup Northvolt and Finnish company Stora Enso, a leading provider of renewable paper products, announced the signing of a letter of intent to purchase a shuttered paper mill and industrial area in Borlänge, Sweden. Northvolt will develop the Kvarnsveden Mill site into a manufacturing plant for active cathode materials and EV battery cell production.

Eric Walz2022-04-06 13:30 PT

Redwood Materials is Launching a EV Battery Recycling Program in California with Support From Ford Motor Co & Volvo Cars

Electric vehicle battery recycling startup Redwood Materials is launching a comprehensive battery recycling program in California. The company will establish an efficient and safe and effective way to recycle end-of-life hybrid and electric vehicle battery packs. Automakers Ford Motor Co and Volvo Cars will be the first to directly support the program.

Eric Walz2022-03-26 11:45 PT

The Upcoming Polestar 5 EV Will Be Faster & Lighter Thanks to a New Bonded Aluminum Body Structure

Volvo’s electric brand Polestar is all about innovation, and the forthcoming Polestar 5 4-door GT will be no exception. The new EV's body structure will be built using a novel aluminum bonding technique. Bonded aluminum is lighter, yet more rigid, but up until now, using it in auto production has previously proven to be more labor-intensive and difficult without sacrificing quality, according to Polestar.

FutureCar Staff 2022-03-24 12:00 PT

Waymo’s New Robotaxis Will Be Built By Chinese Automaker Geely’s New Premium Electric Brand Zeekr

Autonomous driving developer Waymo, which spun out of Google’s self-driving car project, unveiled its new electric robotaxi vehicle that will be built by Zeekr, the new premium electric brand from Chinese automaker Geely. Zeekr was established in March as a standalone brand to compete with Tesla, XPeng, NIO Inc. and others in the premium EV category in China.

Eric Walz2022-02-04 09:30 PT

Volvo’s EV Brand Polestar Teases the Upcoming Polestar 3 Electric-Performance SUV in New York

​Electric vehicle brand Polestar, which is a standalone brand jointly operated by Sweden’s Volvo Cars with support from its parent company Chinese automaker Geely Holding, unveiled a camouflaged teaser look of new Polestar 3 SUV at a media event in New York on Thursday. Polestar CEO, Thomas Ingenlath, hosted investors and press at a series of events in New York to discuss the company’s future vision and growth plans.

Eric Walz2022-01-08 11:55 PT

Trade Group Representing U.S. Auto Suppliers Opposes Setting a Date for the Phase Out Gas-powered Passenger Vehicles

​The Motor & Equipment Manufacturers Association (MEMA), a trade group representing over 1,000 U.S. auto suppliers, is opposing the phase out of gas-powered vehicles stating that the move would cost thousands of jobs in the auto industry. MEMA told a Senate Commerce subcommittee on transportation that the Biden Administration should continue to set regulatory requirements that ensure suppliers keep working to improve internal combustion engines, rather than phasing them out.

Eric Walz2021-06-04 10:45 PT

California Lidar Developer Luminar & Volvo Partner on a Full Stack Autonomous Driving System

​Silicon Valley-based lidar developer Luminar Technologies said it had struck a deal with the self-driving software subsidiary of Volvo Cars to offer a full stack, autonomous driving hardware and software system that can be sold to other automakers.

Eric Walz2021-04-17 16:25 PT

Automakers Geely & Volvo Cars to Launch a New Powertrain Joint Venture After Merger Talks End

Sweden-based Volvo Cars and Chinese automaker Geely Auto are combining their vehicle powertrain operations in a new joint venture company while still retaining their existing independent corporate structures. In addition to developing new EV powertrains under the new venture, the two automakers will share electric vehicle architectures and autonomous driving technologies.

Eric Walz2021-04-02 18:30 PT

Lidar Startup Luminar Technologies Inc. Launches IPO, Making its 25-Year-Old Founder One of the World's Youngest Billionaires

With billions of dollars pouring into electric vehicle stocks and related technology for self-driving cars, companies are turning to Wall Street to raise capital. The latest IPO in the space is lidar startup Luminar Technologies Inc. The lidar company has completed its business combination with a special purpose acquisition company (SPAC) Gores Metropoulos, Inc. to become a public company listed on the NASDAQ.

Eric Walz2021-01-10 11:50 PT

The 275 Mile Range Polestar 2 EV Makes its U.S. Debut in San Francisco

The long-awaited Polestar 2 luxury performance EV makes its North American debut in San Francisco. Polestar is the new luxury performance electric brand from Volvo and its parent company Chinese automaker Geely.

Manish Kharinta2019-09-26 08:30 PT

Uber Debuts its New Self-Driving Volvo XC90 SUVs, Designed to Operate Without a Safety Driver

Today, Uber unveiled its next-generation self-driving Volvo XC90 SUVs during day 2 of the “Uber Elevate” summit in Washington DC. Eventually, Uber plans to deploy thousands of the driverless Volvo’s as part of its ride-hailing network, lessening its reliance on human drivers.

Eric Walz2019-07-19 13:32 PT