STOCKHOLM — Volvo Cars, which is owned by China’s Geely, could seek external investors for its Polestar electric car brand and list the unit on the stock market but has no immediate plans to do so, the company said Thursday.
Germany’s Capital magazine, quoting Volvo CEO Hakan Samuelsson, said Polestar could tap financial investors to help stem the costs of developing new electric powertrains as a precursor to a public stock offering one day.
However, a spokesman for the Swedish carmaker said that while Samuelsson had “discussed the benefits of making it possible for external investors to enter Polestar in the future”, he had not confirmed any plans in that direction.
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