Author: Jonas Berg

Polestar has completed a new round of debt-to-equity conversions with its major shareholders, Geely Sweden Holdings and Volvo Cars, as the electric vehicle manufacturer continues to strengthen its balance sheet and extend its debt maturity profile. The transactions, completed on June 30, converted approximately $366 million of outstanding shareholder loans into Polestar equity. Shareholders Increase Equity Support Geely Sweden Holdings converted approximately $300 million of shareholder debt into equity, while Volvo Cars converted an additional $66 million. The latest transactions increase the total amount of shareholder debt converted into Polestar equity since the beginning of 2026 to approximately $640 million.…

Clean Motion has joined the Wavecomps research project, a Swedish initiative focused on creating circular manufacturing solutions for composite materials used in light electric vehicles. The project is funded by Vinnova through Sweden’s Fordonsstrategisk Forskning och Innovation programme and is coordinated by RISE Research Institutes of Sweden. Wavecomps has been awarded SEK 4.95 million (US$495,190) in funding and will run from June 2026 through January 2029. Developing a Circular Composite Supply Chain The Wavecomps consortium brings together Clean Motion, Podcomp, DIAB, Luvly and RISE to explore new ways of repurposing composite sandwich panels that are currently treated as production waste.…

Finnish EV charging software startup eMabler has secured more than €5.5 million in Series A funding as it prepares to accelerate expansion across Europe and strengthen its smart charging platform. The investment round was led by Greencode Ventures and included participation from Swiss Post Ventures, Rethink Ventures and Helkama Kiinteistöt. In addition to the equity financing, eMabler has secured a €1 million digitalisation and innovation loan from Finnvera, backed by the European Investment Fund through the InvestEU Guarantee Programme. The company is also receiving a combination of grants and loans worth €1 million through Business Finland’s Young Innovative Company Programme.…

Volvo Cars reported global sales of 178,980 vehicles during the three-month period from March through May 2026, a decline of 5.5% compared with the same period last year, as challenging market conditions continued to weigh on demand in several key regions. Despite the overall decline, the Swedish automaker said sales improved compared with the preceding three-month period, suggesting a gradual recovery in customer demand. Electrified Models Account for Nearly Half of Sales Volvo’s electrified vehicle portfolio continued to play an increasingly important role in the company’s performance. The automaker said fully electric vehicles and plug-in hybrid models together accounted for…

Battery-electric vehicles accounted for 97.8% of all new passenger car registrations in Norway in May, underscoring the country’s position as the world’s most advanced electric vehicle market. According to data from the Norwegian Road Traffic Information Council (OFV), 15,210 battery-electric cars were registered during the month out of a total of 15,560 new passenger vehicle registrations. The figures mean electric vehicles have represented 98% of all new car registrations in Norway so far this year, highlighting the near-complete transition away from conventional powertrains. Electric Vehicles Continue to Dominate The latest data showed battery-electric vehicles facing minimal competition in Norway’s new…

Polestar said it will expand its retail operations into Estonia, Latvia and Lithuania, increasing the number of markets in which the electric vehicle manufacturer operates to 31. The company will enter the Baltic region through a partnership with Volvax Baltic, using the distributor’s existing retail network in the three countries. According to Polestar, the first dedicated Polestar Space is scheduled to open in Tallinn, Estonia, in June. Additional locations are planned for Riga, Latvia, and Vilnius, Lithuania, during the second half of the year. Expansion Adds Three New Markets The launch in the Baltic States will make Estonia, Latvia and…

Polestar and Danish charging operator Clever have launched what they describe as Denmark’s first complete vehicle-to-everything (V2X) pilot project, using the Polestar 4 electric SUV to test the ability of electric vehicles to supply power to homes, support the electricity grid and provide backup energy during outages. The pilot will run through autumn 2026 and is intended to evaluate how bi-directional charging can be integrated into both household energy management and wider electricity networks. The project encompasses three key applications of V2X technology. Vehicle-to-home (V2H) functionality allows electricity stored in the vehicle battery to power a home during periods of…

Horse Powertrain has launched an upgraded version of its HORSE V20 gasoline engine, offering the 2.0-litre four-cylinder unit in both 400-volt plug-in hybrid and 48-volt mild hybrid configurations as the company expands its electrified powertrain lineup. Production of the new engine began this spring at the Aurobay Technologies manufacturing facility in Skövde, Sweden, with exports planned for customers in Europe, the United States and Asia. Horse Powertrain said the plug-in hybrid version reduces fuel consumption by 7% compared with the previous-generation engine. Both variants have also been certified to comply with tightening emissions regulations scheduled to take effect in 2026…

Polestar and the University of Oxford SDG Impact Lab have launched a pilot research project aimed at scientifically defining and measuring the thrill of driving using physiological, cognitive and behavioral data collected from drivers of the Polestar 5. The study, announced on May 19, 2026, combines brain activity monitoring with biometric and behavioral analysis to examine whether the emotional sensations associated with driving excitement can be observed and quantified. The research is being conducted by six senior Innovation Fellows pursuing doctoral degrees at Oxford and is supported by university academics alongside Polestar engineers. The pilot runs from March 9 through…

Battery-electric vehicles continued to gain market share across the Nordic region in April, with Norway and Denmark leading electric vehicle adoption rates among new passenger car registrations. Across Nordic countries, roughly two out of every three newly registered passenger cars in April were fully electric, according to registration data. Norway remained the region’s most advanced electric vehicle market, with battery-electric vehicles accounting for 98.6% of all new passenger car registrations during the month. A total of 11,103 fully electric passenger cars were registered in the country in April. Denmark also recorded strong growth in electric vehicle adoption, with battery-electric vehicles…

Polestar reported estimated retail sales of 13,126 vehicles in the first quarter of 2026, marking a 7% increase compared to the same period last year. Michael Lohscheller said the company achieved its strongest first-quarter performance to date, supported by solid demand across key global markets. “Following a record 2025, we’ve delivered our highest ever first quarter retail sales figure of 13,126 cars. Growth compared to the first quarter last year totalled 7%, with a strong performance in key markets such as Australia, Germany, Sweden, South Korea and the UK, testament to the hard work of our teams and our established…

Spirii, part of Edenred, has entered into a partnership with DHL Express Norway to take over the management and optimisation of the company’s electric vehicle charging network. The agreement shifts DHL Express Norway’s existing depot charging infrastructure onto Spirii’s Charge Point Management System (CPMS), enabling centralised oversight, real-time monitoring and more flexible control of access and pricing across sites. As part of the rollout, Spirii will handle end-to-end charging operations, including system supervision, billing processes, and coordination with installation partners. The setup is intended to support round-the-clock logistics operations, where consistent charger availability and system transparency are critical. The integrated…

Norway registered 17,406 new battery-electric vehicles in March, accounting for 98.4% of all new passenger cars and setting a new monthly record, according to the Norwegian Road Traffic Information Council. A total of 17,685 passenger cars were registered during the month, leaving just 1.6% of the market for non-electric powertrains. Only 279 vehicles fell into this category, including 126 diesel cars and 22 petrol cars, with the remainder consisting of hybrid models. The record slightly surpassed the previous high of 98.3% recorded in September 2025, highlighting the continued dominance of electric vehicles in the Norwegian market. For the first quarter,…

The city of Copenhagen has completed its transition to a fully electric bus network after converting its final two routes, 19 and 5C, marking a major milestone in its efforts to decarbonise public transport. The transition was finalised on March 29, when transport operator Movia deployed electric buses on the last remaining diesel-operated routes. Route 19 received 15 new electric buses, while route 5C—Denmark’s busiest bus line, carrying around 17 million passengers annually—now operates with 37 electric buses. Copenhagen first set out its electrification strategy in 2016, aiming to convert all 42 municipal bus routes to emission-free vehicles. By 2023,…

Volvo Cars and Geely Auto have agreed that Volvo Cars will become the exclusive importer of Lynk & Co vehicles in Europe, expanding an existing collaboration between the brands. The agreement, outlined in a letter of intent, remains subject to a final binding contract. Under the proposed arrangement, Volvo Cars will take responsibility for Lynk & Co’s commercial and brand operations in Europe, leveraging its established dealer network to support the brand’s regional growth. The move builds on a current setup in which Volvo Cars and Lynk & Co models are already sold through shared retail locations in selected European…

Coop and freight technology firm Einride plan to transition grocery delivery operations in Sweden’s Uppland region to electric vehicles by the first half of 2026, as part of efforts to reduce transport-related emissions. The Uppland region, located north of Stockholm and covering nearly 13,000 square kilometres, includes 23 Coop stores that require approximately 659,000 kilometres of annual deliveries. The companies estimate that shifting these operations to electric vehicles could reduce carbon dioxide emissions by around 912 tonnes per year. “At Coop, we believe that every delivery can make a difference for our customers and the local community,” said Peter Rosendahl,…

Swedish electric vehicle maker Polestar said its latest battery systems for the Polestar 2 and Polestar 3 now contain at least 50% recycled cobalt, marking a step forward in efforts to reduce reliance on newly mined raw materials. The company said more than half of the cobalt used in these batteries is sourced from secondary materials, part of a broader strategy aimed at improving supply chain transparency and extending the lifecycle of critical resources. The move comes as automakers seek to address environmental and ethical concerns associated with cobalt mining. Polestar said its circular economy approach also includes extending battery…

Polestar has raised $300 million in a new equity financing round, with participation from investors including Crédit Agricole, as the company continues efforts to strengthen its balance sheet. The funding round also includes Vida Finance, Innovator Limited and Proximastar Holdings Company Limited. Polestar did not disclose how the funds were distributed among the participants. As part of the agreement, investors have secured put option arrangements with a subsidiary of Geely Sweden Holdings, giving them the right to exit their investments within three years with predefined returns. The structure mirrors previous financing deals completed in recent months. In late 2025, Polestar…

Finnish technology company Donut Lab has conducted a fast-charging test of its solid-state battery in a production electric motorcycle, marking its first public demonstration at the full battery pack level. The test, carried out as part of the company’s “I Donut Believe” campaign, used a Verge TS Pro motorcycle equipped with Donut Lab’s latest battery technology. Unlike earlier evaluations conducted in laboratory settings with the Technology Institute VTT, this test aimed to show real-world performance in a vehicle environment. See also: Donut Lab Test Shows Solid-State Battery Retains 97.7% Charge After 10 Days “The use of Donut Lab’s solid-state battery…

Lyten has signed a binding agreement to acquire Revolt, the former battery recycling facility of Northvolt in Skellefteå, Sweden, as part of its broader expansion following the takeover of other Northvolt assets, the company said. The acquisition includes licenses for key recycling technologies, though Lyten did not disclose financial terms. The company said the deal is “fully funded from equity investment in Lyten” and is currently undergoing regulatory approvals in Sweden, with completion expected in the second quarter of the year. See also: Lyten Completes Acquisition of Northvolt’s Swedish Sites The move follows Lyten’s recent acquisition of Northvolt Ett and…