Volvo Cars to Dilute Stake in Polestar, Shares Dip

Volvo Cars shares dropped after announcing plans to distribute 62.7% of its stake in Polestar to shareholders, enabling it to focus on its transformation phase. The stock traded over 5% lower in London, with Volvo looking to retain an 18% stake in Polestar.

Impact on Volvo Cars

The decision to distribute the majority stake in Polestar has resulted in a significant impact on Volvo Cars' stock performance.