Private purchasing companies are changing
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Polestar, a Swedish electric car company sponsored by Volvo Group and actor Leonardo DiCaprio, is set to go public through a special company worth $ 20bn, according to people familiar with the matter.
The company from Gothenburg is planning to merge with Gores Guggenheim, Spac backed by billionaire economist Alec Gores and Guggenheim Capital. This relationship can be great Polestar.
Polestar received the $ 800m raised by Gores Guggenheim earlier this year and a $ 250m donation from a public-private partnership, a fund that goes hand in hand with Spac, people say. The conference is designed to be the most valuable of Polestar three times in its 2023 findings.
The advent of electric cars is one of the biggest successes from the boom in the industry without looking at anything, as they seek to make a profit in search of green driving and the popularity of Tesla’s Elon Musk.
However, large lists of shortcomings are expected, as companies have failed to meet their demands and offers to retailers, and these companies have expressed interest from US regulators.
Polestar sold its first car in 2019 and is estimated at $ 1.6bn in 2021 revenue.
Polestar, which raised $ 550m from Chinese retailers in April, is the majority of Chinese car manufacturers Geely and their famous car, competing with Tesla’s Model 3, is manufactured in Chengdu. The company plans to use factories in Belgium and South Carolina to manufacture some of its vehicles as it faces heavy shipping taxes in the US.
Gores, one of Spac’s biggest contributors to the market, has helped get companies like United Wholesale Mortgages and Twinkie makers of Hostess Brands in the spotlight. He also got into an electric car, last year agreeing to participate Luminar Technologies which cost $ 3.4bn. Shares in the company shot 300% following its mention but lost most of these profits.
The Spac market has been in a state of flux since the first peak of the year. Financial liberalization has grown significantly in the third quarter and the stock price crisis that appears when trades are announced is over.