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Cars Volvo Published by J. Doe

Volvo Cars’ affiliate Polestar to be listed in planned combination with Gores Guggenheim, implying an enterprise value of approximately U.S. $20bn for the combined company

Volvo Cars, the largest shareholder in premium electric vehicle company Polestar, today welcomes the plans announced by Polestar to list on the Nasdaq stock exchange in New York. The planned listing will be made through a business combination with Gores Guggenheim, Inc, a special purpose acquisition company formed by affiliates of The Gores Group and Guggenheim Capital LLC. The transaction implies an enterprise value of approximately U.S. $20 billion for the combined company. Please see Polestar’s announcement below.

“Volvo Cars is a proud and supportive shareholder in Polestar, which we founded and have helped develop since its launch as an electric vehicle company in 2017,” said Håkan Samuelsson, chief executive of Volvo Cars.

Original article

Sep 27, 2021 at 21:17

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