Volvo Cars and its owner, China-based Geely Holding, will jointly invest RMB 5 billion (US756 million) to support the initial phase of Polestar’s product, brand and industrial development. Polestar, the fully consolidated Volvo Cars subsidiary, revealed its first production model in Shanghai, the Polestar 1 performance plug-in hybrid electric vehicle. ( Earlier post .) The investment will be used, among other things, to establish a Polestar manufacturing facility in Chengdu, China, marking a new chapter in the development of China as a manufacturing hub for Volvo Cars. This will shorten the time Polestar needs to launch its cars. Volvo Cars and Polestar will also benefit from synergies in the development of next generation […]