Polestar Lists Efficiently on Nasdaq | Information

GOTHENBURG, Sweden & LOS ANGELES–(BUSINESS WIRE)–Jun 24, 2022–

Polestar, the Swedish electrical efficiency automobile model, begins buying and selling on the Nasdaq in New York as of 24 June. Polestar will commerce beneath the ticker PSNY.

This press launch options multimedia. View the complete launch right here: https://www.businesswire.com/information/residence/20220624005003/en/

Polestar 5 prototypes (Photograph: Enterprise Wire)

The US itemizing marks one other important milestone for the model that launched in 2017 and has already change into a worldwide electrical automobile firm. A singular mixture of start-up agility with entry to established automotive OEM manufacturing experience and capability, Polestar has launched two award successful vehicles and has greater than 55,000 of them on the street, globally.

“This can be a massively proud second for your complete group at Polestar,” says Thomas Ingenlath, CEO of Polestar. “We’ll now open a brand new chapter in our story that may be summarised in a single phrase – progress. By 2025 we purpose to be promoting 290,000 vehicles per 12 months, 10 occasions as many as we bought in 2021. We have already got an actual and profitable enterprise; this itemizing provides us the funds and platform to assist ship our bold future plans and drive industry-leading sustainability targets ahead.”

The Nasdaq buying and selling debut follows a robust begin to 2022. Polestar not too long ago introduced document gross sales for the 12 months so far, and sturdy international buyer orders for Polestar 2, its all electrical fastback, of over 32,000, a rise of 290% versus the identical interval in 2021. Polestar additionally elevated its presence to 25 markets, up from 19 on the finish of 2021, supported with almost 130 retail areas.

Thomas Ingenlath continues: “We’re including three new premium electrical vehicles to our line-up by 2024, beginning with the launch of our first SUV, Polestar 3, later this 12 months. This engaging product portfolio would be the base for Polestar’s progress in probably the most engaging, high-margin, international EV segments.”

Polestar will ring the opening bell at Nasdaq in New York Metropolis on 28 June to rejoice its debut as a publicly traded firm. A reside stream of the occasion could be seen on-line at https://livestream.com/accounts/27896496/occasions/10423292.

The itemizing was performed by means of a enterprise mixture with Gores Guggenheim, Inc., a Particular Function Acquisition Firm fashioned by associates of The Gores Group and Guggenheim Capital, LLC, which was formally permitted at a gathering of Gores Guggenheim stockholders on 22 June 2022.

Ends.

About Polestar

Polestar Automotive Holding UK PLC (Nasdaq: PSNY) (“Polestar”) is a Swedish premium electrical automobile producer. Based by Volvo Automobile AB (publ.) (along with its subsidiaries, “Volvo Automobiles”) and Zhejiang Geely Holding Group Co., Ltd (“Geely”), in 2017, Polestar enjoys particular technological and engineering synergies with Volvo Automobiles and advantages from important economies of scale in consequence.

Polestar is headquartered in Gothenburg, Sweden, and its autos are presently out there and on the street in markets throughout Europe, North America, China and Asia Pacific. By 2023, the corporate plans that its vehicles will likely be out there in an combination of 30 markets. Polestar vehicles are presently manufactured in two services in China, with extra future manufacturing deliberate within the USA.

Polestar has produced two electrical efficiency vehicles. The Polestar 1 was constructed between 2019 and 2021 as a low-volume electrical efficiency hybrid GT with a carbon fibre physique, 609 hp, 1,000 Nm and an electric-only vary of 124 km (WLTP) – the longest of any hybrid automobile on this planet on the time.

The Polestar 2 electrical efficiency fastback is the corporate’s first absolutely electrical, excessive quantity automobile. The Polestar 2 mannequin vary contains three variants with a mix of long- and normal vary batteries as giant as 78 kWh, and dual- and single-motor powertrains with as a lot as 300 kW / 408 hp and 660 Nm.

From 2022, Polestar plans to launch one new electrical automobile per 12 months, beginning with Polestar 3 – the corporate’s first electrical efficiency SUV which is anticipated to debut in October 2022. Polestar 4 is anticipated to observe in 2023, a smaller electrical efficiency SUV coupe.

In 2024, the Polestar 5 electrical efficiency 4-door GT is deliberate to be launched because the manufacturing evolution of Polestar Principle – the manifesto idea automobile Polestar launched in 2020 that showcases the model’s future imaginative and prescient by way of design, know-how, and sustainability. As the corporate seeks to scale back its local weather influence with each new mannequin, Polestar goals to provide a very climate-neutral automobile by 2030.

In early March 2022, Polestar revealed its second idea automobile, an electrical efficiency roadster which builds on the design, know-how and sustainability ambitions laid out by Principle and showcases the model’s imaginative and prescient for future sports activities vehicles. The hard-top convertible presents an evolution of the distinctive design language first proven by Principle and emphasises a dynamic driving expertise. The idea additional develops the deal with sustainability and know-how, aiming in the direction of better circularity.

View supply model on businesswire.com:https://www.businesswire.com/information/residence/20220624005003/en/

CONTACT: For inquiries relating to Polestar:Bojana Flint

Polestar (Investor Relations)

[email protected] Goodman

Polestar

[email protected] Paolo Canton

Polestar

[email protected]

KEYWORD: SWEDEN EUROPE

INDUSTRY KEYWORD: ALTERNATIVE VEHICLES/FUELS AUTOMOTIVE MANUFACTURING MANUFACTURING GENERAL AUTOMOTIVE AUTOMOTIVE

SOURCE: Polestar

Copyright Enterprise Wire 2022.

PUB: 06/24/2022 09:08 AM/DISC: 06/24/2022 09:08 AM

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