Volvo falls 5% after it sets out to dilute stake in electric vehicle automaker Polestar

A Polestar Roadster concept electric vehicle during the Singapore Motorshow in Singapore, on Thursday, Jan. 11, 2024. The show runs through Jan. 14. Photographer: Lionel Ng/Bloomberg via Getty ImagesShares of Volvo Cars dipped on Friday, after the company said it would dilute its stake in electric vehicle maker Polestar by distributing 62.7% of its holdings to its shareholders.The company's stock traded over 5% lower at around 10:00 a.m. London time, paring some of its earlier losses.If approved during the ...