Polestar, the Swedish electric performance car brand has announced that is has received further commitments for financial and liquidity support from its two major shareholders, which amount to $2.2 billion.

Volvo Cars is providing a $1.1 billion principal amount 18-month term loan, with an equity conversion option for Volvo Cars. This loan amount is on par with the direct and indirect financial and liquidity support that Polestar's other major shareholder, PSD Investment, is providing.