Home » Markets » Volvo's Polestar electric brand to go public through SPAC merger worth $20B
Volvo's Polestar electric brand to go public through SPAC merger worth $20B
Inside look at Volvo Polestar 2
Gary Gastelu on new electric vehicle from Volvo
Volvo-owned electric car brand Polestar has announced plans to go public through a merger with special-purpose acquisition company Gores Guggenheim at a $20 billion valuation, the companies announced Monday.
Polestar was launched in 2017 by Volvo and its Chinese parent company, Geely, as a premium electric brand along the lines of Tesla and began delivering cars in the U.S. last year. Its current lineup includes the limited-edition plug-in hybrid Polestar 1 and the all-electric Polestar 2, which is available in several models.