Volvo shares jumped over 20 after it announced plans to stop funding subsidiary Polestar Automotive. Volvo may hand stewardship of Polestar to majority shareholder Geely Holding, which owns 78.65 of Volvo. Volvo's CFO said this allows both companies to fully focus on growth as Polestar moves to a new trajectory. Volvo Cars announced a significant increase in fourth-quarter operating income to $639 million, surpassing expectations and showing growth from $372 million in the same period the previous year.