Polestar entered into a $600 million subordinated term loan facility with a wholly owned subsidiary of Geely Sweden Holdings as lender, according to a Tuesday press release.
The final $300 million tranche will require lender consent based on Polestar's future liquidity needs and will be used for general corporate purposes, it said.
Geely Sweden is a subsidiary of Shanghai Geely Zhaoyuan International Investment, the key investment arm of Geely Automobile Holdings (HKG:0175) parent Zhejiang Geely Holding Group.
Geely is the majority shareholder of Polestar.
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