EV maker Polestar secures $400 million equity funding

Core Insights - Electric vehicle maker Polestar has secured a $400 million equity investment from Feathertop Funding Limited, a special purpose entity consolidated by Sumitomo Mitsui Banking Corporation [1] Company Summary - The investment will support Polestar's growth and expansion plans in the electric vehicle market [1] - This funding is part of Polestar's strategy to enhance its production capabilities and accelerate the development of new models [1] Industry Summary - The electric vehicle industry continues to attract significant investments, indicating strong investor confidence in the sector's growth potential [1] - The partnership with Sumitomo Mitsui Banking Corporation highlights the increasing involvement of financial institutions in supporting electric vehicle manufacturers [1]