EV maker Polestar secures $450 million loan facility, delays quarterly results

Electric vehicle maker Polestar has secured a 12-month loan facility of up to $450 million, it said on Friday, and would delay its fourth-quarter results in April along with its annual filing for fiscal 2024.

Backed by China's Geely, the company has struggled to drum up demand for its vehicles amid a softer buying environment and strong competition from carmakers such as Tesla.