stockholmvolvo car ab said thursday it is providing polestar automotive holding uk plc with an 800 million 18month term loan matching a commitment from polestars other major shareholder psd investment the total 16 billion financial and liquidity support comes as capital markets are volatile and unpredictable and will provide polestar with sufficient funds through 2023 volvo cars loan includes an option to convert to equity in a potential future equity raise by polestar it said polestar is our affiliate brand and an important business partner as it plays a key role in our strategic direction to become fully electric by 2030 and shape the future of mobility said johan ekdahl volvo car chief financial officer the financial support provided by us along with polestars other main owner will ensure polestar remains steadfast on further delivering on its ambitions as a performance ev car brand he added volvo car established polestar as an electric vehiclefocused brand and is the largest institutional shareholder in the company holding a 483 stake