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Will GGPI and Polestar Be the Next Big EV SPAC?
The Swedish electric car manufacturer is looking to go public and is rumored to be in talks with a SPAC heavy hitter
Over the past year, SPACs and EV companies have been red hot in the investing world. While they have certainly seen some ups and downs, they have largely been a launch point for investors to get into some companies bringing themselves to market. If the recent reports about a possible collaboration between Gores Guggenheim, Inc (GGPI) and rising electric vehicle manufacturer Polestar come to fruition it could well be the next big SPAC merger to make serious noise on the market.
Polestar is an auto manufacturer based out of Sweden. They were established in 1996 by Flash/Polestar, a partner of Volvo, who ultimately bought the company in 2015. They specialize in electric performance vehicles and performance hardware and software optimization for Volvo autos.
There are two current models in the Polestar stable. The Polestar 1 is high-end hybrid that starts at $155,000. It is able to do 52 EV miles on a single charge, which provides the longest range of any hybrid on the market. Connected to the Polestar 1 Connect app, drivers enjoy a high-tech and automated driving experience.
