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Volvo Cars saw its shares rise by over 24% after announcing that it will cease funding its subsidiary Polestar Automotive. The company reported a 10% increase in fourth-quarter net sales and a jump in adjusted operating income. Volvo is considering transferring control of Polestar to majority shareholder Geely Holding. Volvo Cars CEO, Jim Rowan, stated that reducing its shareholding in Polestar will allow the company to focus on its own growth journey and technology investments.

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