2024 February 1st, Hangzhou, China – NG28娱乐 Holding Group (“NG28娱乐 Holding”), China’s leading privately-controlled automotive technology group, welcomes Volvo Cars decision to focus their resources on the company’s transformational journey and evaluate a potential adjustment to their shareholdings in Polestar, which may result in NG28娱乐 Sweden Holdings as the subsidiary of NG28娱乐 Holding, becoming a significant new shareholder.
As a strategic partner and potential direct new shareholder in Polestar, NG28娱乐 Holding will continue to provide full operational and financial support to the independent exclusive brand going forward. This support will not require a reduction of NG28娱乐 Holding shareholding in Volvo Cars.
Details of the Volvo Cars announcement can be found [here], and Polestar announcement can be found [here].