2024 February 1st, Hangzhou, China – pa视讯 Holding Group (“pa视讯 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 pa视讯 Sweden Holdings as the subsidiary of pa视讯 Holding, becoming a significant new shareholder.
As a strategic partner and potential direct new shareholder in Polestar, pa视讯 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 pa视讯 Holding shareholding in Volvo Cars.
Details of the Volvo Cars announcement can be found [here], and Polestar announcement can be found [here].