Volvo shares jump 21% on higher sales, plans to stop Polestar funding

A Volvo C40 Recharge electric SUV is on display during the Volvo "A New Era of Volvo Cars" press conference at The Shilla Seoul on March 14, 2023 in Seoul, South Korea.Volvo Cars shares surged more than 21% on Thursday after the Swedish automaker announced that it will stop funding subsidiary Polestar Automotive.Volvo earlier in the day reported a 10% year-on-year increase in fourth-quarter net sales to 148.1 billion Swedish krona ($14.16 billion), bringing its full-year 2023 total to 552.8 billion krona.Th ...