25 Sept Reuters - Swedish electric car maker Gores Guggenheim Inc is close to a deal to go public by a merger with blank check firm Polestar via a valuation of $20 billion including debt, according to people familiar with the matter.
The premium EV maker, owned by China's Geely and Volvo Cars, could announce its plan to go public as soon as Monday, the people said.
Polestar announced $550 million in external funding in April and raised plans in June to build Polestar 3 electric sport utility vehicles at Volvo plant in South Carolina starting in the second half of 2022.