Cara Lombardo
Polestar is nearing a deal to go public through a merger with a special-purpose acquisition company that would value the Swedish electric-vehicle maker at $20 billion including debt, according to people familiar with the matter.
Polestar, owned by Chinese car maker Zhejiang Geely Holding Group Co., is in advanced talks with Gores Guggenheim Inc. (NAS:GGPI) and could reach a deal this week, the people said, assuming talks don’t fall apart.
Polestar focuses on high-performance electric cars , positioning itself as a rival to Tesla Inc. (NAS:TSLA) and Lucid Group Inc. (NAS:LCID) .
An expanded version of this report appears on WSJ.com.
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