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So far the EX60, with a driving range of more than 497 miles on a single charge, is only available in European markets. U.S. order books are due to open later this spring. 

Polestar Automotive Holding UK has secured $300 million in new financing, giving the cash-burning electric vehicle maker a fresh lifeline as it contends with heavy losses.

The Stockholm-based autonomous driving startup will combine with special purpose acquisition company Legato Merger and is set to raise $319 million in the process, the company said Nov. 12.

The manufacturer on Oct. 17 projected declining North American truck registrations for 2026, with CEO Martin Lundstedt citing rising uncertainty tied to President Trump’s planned duties.

Western heavy-duty vehicle makers’ efforts to gain a foothold in China have so far struggled with a lack of profitability amid local competition.

Einride, founded in 2016 in Sweden, has been considering a listing in the U.S.

Polestar Automotive Holding UK debuted a luxury sedan as the Swedish electric vehicle maker seeks to challenge rivals like Porsche AG with its Taycan.

“People worry Geely will centralize R&D in China. That’s a misunderstanding,” Hakan Samuelsson said. “There’s no such plan, and Chinese operations are also cutting costs.”

Bankrupt battery maker Northvolt will stop production at its last remaining factory in northern Sweden at the end of June if it fails to find a buyer before then.

Einride is shaking up its top management as the Swedish driverless truck startup lays the groundwork for a possible initial public offering.