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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Tesla Full Self-Driving appears to be heading to Europe soon
For years, Musk has said the process for gaining approval in Europe would take significantly more time than it does in the United States. Back in 2019, he predicted it would take six to twelve months to gain approval for Europe, but it has taken much longer.
Tesla Full Self-Driving appears to be heading to Europe soon, especially as the company has continued to expand its testing phases across the continent.
It appears that the effort is getting even bigger, as the company recently posted a job for a Vehicle Operator in Prague, Czech Republic.
This would be the third country the company is seeking a Vehicle Operator in for the European market, joining Germany and Hungary, which already have job postings in Berlin, Prüm, and Budapest, respectively.
🚨Breaking: Tesla is hiring vehicle operators in Prague. pic.twitter.com/CbiJdQLCLj
— Tesla Yoda (@teslayoda) November 19, 2025
This position specifically targets the Engineering and Information Technology departments at Tesla, and not the Robotics and Artificial Intelligence job category that relates to Robotaxi job postings.
Although there has been a posting for Robotaxi Operators in the Eastern Hemisphere, more specifically, Israel, this specific posting has to do with data collection, likely to bolster the company’s position in Europe with FSD.
The job description says:
“We are seeking a highly motivated employee to strengthen our team responsible for vehicle data collection. The Driver/Vehicle Operator position is tasked with capturing high-quality data that contributes to improving our vehicles’ performance. This role requires self-initiative, flexibility, attention to detail, and the ability to work in a dynamic environment.”
It also notes the job is for a fixed term of one year.
The position requires operation of a vehicle for data collection within a defined area, and requires the Vehicle Operator to provide feedback to improve data collection processes, analyze and report collected data, and create daily driving reports.
The posting also solidifies the company’s intention to bring its Full Self-Driving platform to Europe in the coming months, something it has worked tirelessly to achieve as it spars with local regulators.
For years, Musk has said the process for gaining approval in Europe would take significantly more time than it does in the United States. Back in 2019, he predicted it would take six to twelve months to gain approval for Europe, but it has taken much longer.
This year, Musk went on to say that the process of getting FSD to move forward has been “very frustrating,” and said it “hurts the safety of the people of Europe.”
Elon Musk clarifies the holdup with Tesla Full Self-Driving launch in Europe
The latest update Musk gave us was in July, when he said that Tesla was awaiting regulatory approval.
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Tesla celebrates 75k Superchargers, less than 5 months since 70k-stall milestone
Tesla’s 75,000th stall is hosted at the South Hobart Smart Store on Cascade Road, South Hobart, Tasmania.
Tesla has crossed another major charging milestone by officially installing its 75,000th Supercharger stall worldwide. The electric vehicle maker chose South Hobart, Tasmania, as the commemorative location of its 75,000th Supercharger.
Tesla’s 75,000th Supercharger
Tesla’s 75,000th stall is hosted at the South Hobart Smart Store on Cascade Road, South Hobart, TAS 7004, as noted in a techAU report. The location features four next-generation V4 Superchargers, which are built with longer cables that should make it easy even for non-Teslas to use the rapid charger. The site also includes simplified payment options, aligning with Tesla’s push to make V4 stations more accessible to a broader set of drivers.
For Tasmanian EV owners, the installation fills an important regional gap, improving long-distance coverage around Hobart and strengthening the area’s appeal for mainland travelers traveling by electric vehicle. Similar to other commemorative Superchargers, the 70,000th stall is quite special as it is finished in Glacier Blue paint. Tesla’s 50,000th stall, which is in California, is painted a stunning red, and the 60,000th stall, which is in Japan, features unique origami-inspired graphics.
Accelerating Supercharger milestones
The Tesla Supercharger’s pace of expansion shows no signs of slowing. Tesla celebrated its 70,000th stall at a 12-stall site in Burleson, Texas late June 2025. Just eight months earlier, Tesla announced that it had celebrated the buildout of its 60,000th Supercharger, which was built in Enshu Morimachi, Shizuoka Prefecture, Japan.
Tesla’s Supercharger Network also recently received accolades in the United Kingdom, with the 2025 Zapmap survey naming the rapid charging system as the Best Large EV Charging Network for the second year in a row. Survey respondents praised the Supercharger Network for its ease of use, price, and reliability, which is best-in-class. The fact that the network has also been opened for non-Teslas is just icing on the cake.
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Luminar-Volvo breakdown deepens as lidar maker warns of potential bankruptcy
The automaker stated that Luminar failed to meet contractual obligations.
Luminar’s largest customer, Volvo, has canceled a key five-year contract as the lidar supplier warned investors that it might be forced to file for bankruptcy. The automaker stated that Luminar failed to meet contractual obligations, escalating a dispute already unfolding as Luminar defaults on loans, undergoes layoffs, and works to sell portions of the business.
Volvo pulls back on Luminar
In a statement to TechCrunch, Volvo stated that Luminar’s failure to deliver its contractual obligations was a key driver of the cancellation of the contract. “Volvo Cars has made this decision to limit the company’s supply chain risk exposure and it is a direct result of Luminar’s failure to meet its contractual obligations to Volvo Cars,” Volvo noted in a statement.
The rift marked a notable turn for the two companies, whose relationship dates back several years. Volvo invested in Luminar early and helped push its sensors into production programs, while Luminar’s technology bolstered the credibility of Volvo’s safety-focused autonomous driving plans. Volvo’s partnership also supported Luminar’s 2020 SPAC listing, which briefly made founder Austin Russell one of the youngest self-made billionaires in the industry.
Damaged Volvo relations
The damaged Volvo partnership comes during a critical period for Luminar. The company has defaulted on several loans and warned investors that bankruptcy remains a possibility if restructuring discussions fall through. To conserve cash, Luminar has cut 25% of its workforce and is exploring strategic alternatives, including partial or full asset sales.
One potential buyer is founder Austin Russell, who resigned as CEO in May amid a board-initiated ethics inquiry. The company is also the subject of an ongoing SEC investigation.
Luminar, for its part, also noted in a filing that it had “made a claim against Volvo for significant damages” and “suspended further commitments of Iris” for the carmaker. “The Company is in discussions with Volvo concerning the dispute; however, there can be no assurance that the dispute will be resolved favorably or at all,” the lidar maker stated.