Swedish electric car maker Polestar is close to sealing a deal to go public via a merger with blank-cheque firm Gores Guggenheim Inc, sources have revealed.
The premium EV maker, which is owned by China’s Geely and Volvo Cars, could announce its plan – which values the outfit at $20 billion – to go public as soon as Monday, it was claimed.
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Polestar raised $550 million in external funding in April and then announced plans in June to build its Polestar 3 electric sport utility vehicles at Volvo’s US plant in South Carolina, starting in the second half of 2022.
- Reuters with additional editing by Sean O’Meara
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