Polestar is a Swedish automotive manufacturer that produces electric vehicles. Owned by Volvo Cars, the company is headquartered in Torslanda outside Gothenburg, Sweden. Polestar produces cars in several countries including China, the US, and South Korea, in facilities owned by Volvo Cars and its parent company Geely Holding. The brand originated from Flash Engineering, a Swedish motorsport team established in 1996 that competed in the Scandinavian Touring Car Championship. In 2005, the team was sold then rebranded to Polestar Racing, which later operated a production car tuning division called Polestar Performance AB. In July 2015, the Polestar brand was acquired by Volvo Cars. The racing team was then rebranded to Cyan Racing, while still maintaining close ties to Volvo. The current holding company of Polestar was jointly formed in 2017 by Volvo Cars and Zhejiang Geely Holding Group. Polestar shares began trading on the Nasdaq exchange under the symbol PSNY on 24 June 2022 through a business combination agreement. Volvo plans to reduce its stake in Polestar by the third quarter of 2024 from currently 48.3% to around 18% by ceding it to Geely Holding. Wikipedia