Polestar announced today it received financing from two major shareholders, totaling $1.6 billion, to achieve its future growth targets.
The global economy is in a tumultuous period, especially in Europe, where energy issues continue to run rampant. Despite these challenges, Polestar and numerous other brands hope to continue to grow. To do so, Polestar has acquired a massive $1.6 billion loan from parent company Volvo Cars and significant shareholder PSD Investment ($800 million each).
Polestar CEO Thomas Ingenlath notes two motivating goals for the brand in pursuing such large amounts of capital. “[We] are on track to reach our goal of delivering 50,000 cars to customers in 2022. We are making strong progress on our ambitious plans to launch three more cars by 2026…”
The press release did not mention how the new funds would be spent specifically; however, the clear focus is on developing their upcoming vehicles and producing their existing lineup.
One concern that Polestar may be looking to address with new funds is its lack of American manufacturing. As previously announced, the Scandinavian brand will use a pre-existing Volvo Cars manufacturing facility in South Carolina to build their upcoming Polestar 3. However, their Polestar 2 sedan will likely continue to be manufactured in China alongside other Geely (Polestar parent company) products. Meaning that while the upcoming electric SUV would qualify for federal EV subsidies in the U.S., the brand’s electric sedan would not.
This financing round comes only weeks after Polestar announced that it would continue its partnership with Chinese financer Industrial Bank. No financing deals have been reported with the bank yet. Still, Industrial Bank has developed a reputation with the automaker, and many anticipate the two will work together soon.
Polestar is seizing on an opportunity that is likely a fleeting one. The wave of electric vehicle demand is only growing worldwide, and to capitalize on it, the company must have a range of options and production capacity to meet demand. What remains unclear is how current global politics and economic movements will affect demand and supply chains, both of which have seemed particularly vulnerable in recent months.
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Elon Musk
Elon Musk’s X sees outage on Monday as users report issues
Monday’s outage follows a similar issue that befell the social media platform in mid-January.
X experienced an outage on Monday morning, with tens of thousands of users reporting that the platform failed to load across both desktop and mobile. The disruption began around 8:02 a.m. ET, as per Downdetector data, and quickly escalated in the U.S. and U.K.
Monday’s outage follows a similar issue that befell the social media platform in mid-January.
Shortly after 8 a.m. ET, Downdetector showed a sharp rise in incident reports. At one point, U.S. complaints exceeded 40,000, while U.K. reports climbed past 6,000. Earlier in the outage, filings had already crossed 11,000 in the U.S. and 3,300 in the U.K., as noted in a TechRadar report. X users in other locations, such as the Philippines and Costa Rica, also reported similar issues.
Users attempting to access X were met with a “something went wrong” message. Feeds did not refresh, posts failed to appear, and both the social media platform’s app and web versions appeared affected by the issue. The outage struck during peak weekday usage, amplifying its visibility across regions worldwide.
X has not issued an official explanation for the latest outage or confirmed what caused the service disruption. The scale of complaints drew comparisons to the platform’s major outage in November 2025, which resulted in users being met with “Internal server error / Error code 500” messages, as well as Cloudflare-related error notices.
The incident also comes just weeks after X experienced a similar downtime in mid-January. That outage seemed more notable, however, with more than 100,000 users reporting issues with the social media platform on Downdetector.
Elon Musk
New details emerge on The Boring Company’s Universal tunnel plans
The materials outline staffing, construction timelines, tunnel configuration, and operational details that were not previously public.
Newly released bidding documents have shed light on how Elon Musk’s Boring Company plans to connect Universal Orlando Resort’s north campus to Universal Epic Universe.
The materials outline staffing, construction timelines, tunnel configuration, and operational details that were not previously public about the planned Loop system.
The Shingle Creek Transit & Utility Community Development District voted Feb. 11 to begin contract negotiations with The Boring Company after ranking it the top bidder for the Universal Orlando transport project. Now, evaluation documents obtained by local news media reveal how the company intends to execute the project, according to Attraction Insight.
The proposal describes a twin-tunnel configuration, with one tunnel in each direction. It also noted that permitting, design, and construction could take roughly a year and a half once approvals are secured. The company indicated it could deploy multiple tunnel boring machines and install temporary support infrastructure, including muck storage pits and stormwater systems, during construction.
Bid documents list eight internal specialists assigned to the project, including tunnel engineers, structural engineers, and tunnel boring machine experts. Six subcontractors would handle fire protection, communications, soil treatment, and concrete work.
The company stated it “has the necessary internally produced tunneling equipment and personnel immediately available to complete this project for the district as quickly as permits and approvals can be obtained.”
Operationally, the system would mirror the company’s Las Vegas Loop model, using Tesla vehicles to provide point-to-point transport rather than fixed-route buses. The proposal frames the concept as “on-demand, express transportation,” with vehicles dispatched as needed and capacity adjustable in real time.
Stations could be built underground or above ground with ramp access into tunnels. The documents also referenced potential future integration of a configurable Robovan for passengers and cargo, though capacity projections for the Orlando tunnels have not yet been disclosed.
The proposal states that the Loop can integrate “easily into environmentally sensitive areas,” but it does not provide detailed mitigation plans for Central Florida’s high water table and limestone geology, which is susceptible to sinkholes. The company has stated that it intends to hire an Orlando-based geotechnical firm to evaluate soil conditions.
News
Tesla Giga Berlin dispute against IG Metall union leads to investigation
As per a report from rbb24, police seized a laptop belonging to an IG Metall member at Tesla Giga Berlin on Tuesday afternoon.
German authorities have opened an investigation into an IG Metall union representative following allegations that a confidential works council meeting at Tesla’s Gigafactory Berlin was secretly recorded. The probe follows a criminal complaint filed by Tesla management last week.
As per a report from rbb24, police seized a laptop belonging to an IG Metall member at Tesla Giga Berlin on Tuesday afternoon. Prosecutors in Frankfurt (Oder) confirmed that an investigation is underway into a possible unauthorized audio recording of an internal works council meeting.
Under German law, recording a non-public meeting without consent may constitute a criminal offense.
Tesla stated that Gigafactory Berlin employees alerted management after allegedly discovering that an external union representative, who was attending the event as a guest, had recorded the session. Plant manager André Thierig stated in a post on X that the representative was “caught in action,” prompting the company to contact police and file a criminal complaint.
The seized device is now part of the investigation, and authorities will determine whether any unlawful recording had indeed occurred.
IG Metall has denied the accusation. In comments to German media, representatives rejected Tesla’s claim and described the electric vehicle maker’s allegation as an election campaign tactic ahead of upcoming works council elections.
The election at Tesla’s Grünheide plant is scheduled for March 2–4, 2026, with about 11,000 employees being eligible to vote. Regular works council elections in Germany are held every four years between March and May.
The incident comes amid tensions between Tesla and organized labor in Germany. While works councils operate independently from unions, IG Metall has been active at the plant and has previously criticized Tesla’s labor practices. Authorities, for their part, have not yet announced whether charges will be filed, though the investigation remains ongoing.