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Sept. 26, 2021, 7:09 p.m. EDT

EV company Polestar may go public through merger with Gore Guggenheim SPAC

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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.  /zigman2/quotes/226726518/composite GGPI -1.33%  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.  /zigman2/quotes/203558040/composite TSLA +2.73%  and Lucid Group Inc.  /zigman2/quotes/221104327/composite LCID +2.35% .

An expanded version of this report appears on WSJ.com.

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/zigman2/quotes/226726518/composite
US : U.S.: Nasdaq
$ 10.36
-0.14 -1.33%
Volume: 1.17M
Oct. 27, 2021 1:23p
P/E Ratio
N/A
Dividend Yield
N/A
Market Cap
$1.05 billion
Rev. per Employee
N/A
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/zigman2/quotes/203558040/composite
US : U.S.: Nasdaq
$ 1,046.22
+27.79 +2.73%
Volume: 27.22M
Oct. 27, 2021 1:24p
P/E Ratio
339.61
Dividend Yield
N/A
Market Cap
$1022.77 billion
Rev. per Employee
$445,694
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/zigman2/quotes/221104327/composite
US : U.S.: Nasdaq
$ 27.00
+0.62 +2.35%
Volume: 43.74M
Oct. 27, 2021 1:24p
P/E Ratio
N/A
Dividend Yield
N/A
Market Cap
$42.70 billion
Rev. per Employee
N/A
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