Feb 28 (Reuters) - Electric vehicle maker Polestar PSNY.O has secured a 12-month loan facility of up to $450 million, it said on Friday, and would delay its fourth-quarter results in April along with its annual filing for fiscal 2024.
Backed by China's Geely [RIC:RIC:GEELY.UL], the company has struggled to drum up demand for its vehicles amid a softer buying environment and strong competition from carmakers such as Tesla TSLA.O.
(Reporting by Zaheer Kachwala in Bengaluru; Editing by Shailesh Kuber)
((Zaheer.Kachwala@thomsonreuters.com;))
Disclaimer: Investing carries risk. This is not financial advice. The above content should not be regarded as an offer, recommendation, or solicitation on acquiring or disposing of any financial products, any associated discussions, comments, or posts by author or other users should not be considered as such either. It is solely for general information purpose only, which does not consider your own investment objectives, financial situations or needs. TTM assumes no responsibility or warranty for the accuracy and completeness of the information, investors should do their own research and may seek professional advice before investing.