According to the 13F-HR forms filed Thursday, BNP Paribas Asset Management Holding sold 87.58% of its stake in NIO (274,700 shares) and added nearly 3.4 million Polestar shares in late June, when the Swedish manufacturer closed the merger process with Gores Guggenheim.
BNP Paribas reported ownership of 38,941 NIO valued at $846,000 as of the end of the second quarter. On the previous form, filed on May 12, it had disclosed owning 313,641 shares representing a decrease of -87.58 percent.
By the end of Q1 2021, when the stock price was trading near all-time highs, BNP had over 1.5 million shares of the Chinese EV maker but sold some months later over 1 million shares.
The Paris headquartered firm also disclosed that bought 3,395,826 shares of the recently IPO’d Polestar in June. As of June 30, total holdings in the Swedish EV maker were valued at $29.92 million.
On July 21, Polestar signed a collaboration agreement with Arval in Spain for its leasing services. Arval is part of the BNP Paribas Group and will become Polestar’s global leasing service provider in Spain after arriving in the country in 1996. As of June 2022, the company has currently more than 200,000 vehicles on the road and is the leading national operator.
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Arval will provide its experience to offer mobility solutions adapted to the preferences and profiles of its customers. The partnership will allow Polestar’s customers to have competitive leasing products and services, as well as access to maintenance and repair of their vehicles in the brand’s own official network.