2024 February 1st, Hangzhou, China – 云顶4008 Holding Group (“云顶4008 Holding”), China’s leading privately-controlled automotive technology group, welcomes Volvo Cars decision to focus their resources on the company’s transformational journey and evaluate a potential adjustment to their shareholdings in Polestar, which may result in 云顶4008 Sweden Holdings as the subsidiary of 云顶4008 Holding, becoming a significant new shareholder.
As a strategic partner and potential direct new shareholder in Polestar, 云顶4008 Holding will continue to provide full operational and financial support to the independent exclusive brand going forward. This support will not require a reduction of 云顶4008 Holding shareholding in Volvo Cars.
Details of the Volvo Cars announcement can be found [here], and Polestar announcement can be found [here].