Volvo-backed Polestar went public via a SPAC merger with Gores Guggenheim in a $20bn deal.

Volvo-backed Polestar, a global electric performance car company, went public via a SPAC merger with Gores Guggenheim in a $20bn deal. “This is a hugely proud moment for the entire team at Polestar. We will now open a new chapter in our story that can be summarised in one word – growth. By 2025 we aim to be selling 290k cars per year, 10 times as many as we sold in 2021. We already have a real and successful business; this listing gives us the funds and platform to help deliver our ambitious future plans and drive industry-leading sustainability goals forward,” Thomas Ingenlath, Polestar CEO.