Can Polestar succeed where other EV maker SPACs have failed? – TechCrunch

Can Polestar succeed where other EV maker SPACs have failed? – Nob6

Category : Startup

Author: Nob6 Team

Post Date :

[ad_1]

The market has cooled on SPACs, however Polestar has the community and know-how

Polestar, the EV subbrand from Volvo and Geely that launched final week on the Nasdaq at a $20 billion valuation, didn’t earn its $PSNY ticker by taking the standard route towards an IPO.

With the ringing of the bell, Polestar grew to become the most recent EV maker to rush to the inventory trade by merging with a particular objective acquisition firm, or SPAC, earlier than turning into worthwhile.

Being underneath Volvo’s aegis provides Polestar a head begin over typical electrical car startups, although its manufacturing targets might show difficult given their relative scale when in comparison with different just lately SPAC’d EV firms.

The merger with blank-check firm Gores Guggenheim raised roughly $890 million for Polestar, which is able to use the cash to fund an aggressive three-year development plan. However thus far, regardless of its appreciable assets because the baby of a multinational conglomerate, its inventory has largely stagnated. It debuted at $10 per share and jumped to $13 after the SPAC merger was accomplished on June 24, however was buying and selling Wednesday morning round $9.70 per share.

[ad_2]

Source link

Tags

About Author

Nob6

Nob6 have a great team of writers and developers who are enthusiastic about delivering quality content focusing on 10,000 + users and loyal readers. 

Leave a Comment

Author : Nob6

Nob6.com: Nob6 Blog – The Complete blog for Blogging, Business, Money Making Tips, Startups, Webmaster, Guest posting, tips and tricks, and Technology News.

Join Us

Recommended Posts

Trickle Chargers Boosting Your Car's Battery Life

Trickle Chargers: Boosting Your Car’s Battery Life

Which Aspects of Business are Just as Important as Your Main Service

Which Aspects of Business are Just as Important as Your Main Service

What Needs To Be Arranged Before Moving Home

What Needs To Be Arranged Before Moving Home

From Manuscript to Masterpiece How Professional Book Printing Services Make the Difference

From Manuscript to Masterpiece: How Professional Book Printing Services Make the Difference

Fundamental Factors Influencing WSM Coin: A Comprehensive Overview

Fundamental Factors Influencing WSM Coin: A Comprehensive Overview

Business team learning about what are contact center solutions and searching the best one

What Are Contact Center Solutions and How Do They Benefit Businesses?

The Best IT Recruitment Agency in UK

The Best IT Recruitment Agency in UK