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Volvo, An Early Electric Car Adopter, Cuts Off Funding For Its EV Affiliate – Stock jumps 20%!

Volvo Car said it won’t provide further funding to Polestar, the electric-car maker it created with Volvo’s Chinese owner Geely—the latest EV retrenchment by the global auto industry. The auto industry’s pivot to electric vehicles has been rocked by setbacks this year, just as a flood of new battery-powered models is hitting showrooms. Earlier this …

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