Geely Holding Group’s high-end electric car brand polestar (Chinese name “polar star”) is in talks with investors to raise $800 million to $900 million, people familiar with the matter said. The money will help Polaris expand its production and product lines, sources said. Polestar is a high-performance electric vehicle brand jointly owned by Volvo car group and Zhejiang Geely Holding Group. At present, it has two mass production models, polestar 1 and polestar 2. < / P > < p > in October 2017, polestar launched polestar 1, which is a hybrid vehicle that can drive 150 km by electricity alone. It is produced on the production line of the company’s Chengdu factory. < / P > < p > in addition, the polar star concept car previously released at the Beijing auto show will also usher in small batch trial production in Chengdu in September 2021, and realize large batch production in April 2022. < / P > < p > at the end of February last year, polestar online launched polestar 2, which is the first electric vehicle among the five pure electric vehicles that Volvo promised to launch and is built on the CMA platform. Since late March this year, the car has been in mass production at polestar’s Luqiao factory in Taizhou, Zhejiang Province. On Monday, foreign media reported that Geely Holding Group plans to build an electric vehicle factory with an annual capacity of 30000 vehicles in Chongqing to produce high-end electric vehicles with the polestar brand. Global Tech

By ibmwl