Polestar is headquartered in Gothenburg, Sweden, and its vehicles are currently available and on the road
in markets across Europe, North America, China and Asia Pacific. By 2023, the company plans that its cars will be available in an aggregate of 30 markets. Polestar cars are currently manufactured in two facilities in China, with additional future
manufacturing planned in the USA.
In September 2021, Polestar announced its intention to list as a public company on the Nasdaq in a business
combination agreement with Gores Guggenheim, Inc. Full information on this definitive agreement can be found here.
Polestar has
produced two electric performance cars. The Polestar 1 was built between 2019 and 2021 as a low-volume electric performance hybrid GT with a carbon fiber body, 609 hp, 1,000 Nm and an electric-only range of
124 km (WLTP) the longest of any hybrid car in the world.
The Polestar 2 electric performance fastback is the companys first fully
electric, high volume car. The Polestar 2 model range includes three variants with a combination of long- and standard range batteries as large as 78 kWh, and dual- and single-motor powertrains with as much as 300 kW / 408 hp and 660 Nm.
In the coming three years, Polestar plans to launch one new electric vehicle per year, starting with Polestar 3 in 2022 the companys first
electric performance SUV. Polestar 4 is expected to follow in 2023, a smaller electric performance SUV coupe.
In 2024, the Polestar 5 electric
performance 4-door GT is planned to be launched as the production evolution of Polestar Precept the manifesto concept car that Polestar released in 2020 that showcases the brands future vision in
terms of design, technology, and sustainability. As the company seeks to reduce its climate impact with every new model, Polestar aims to produce a truly climate-neutral car by 2030.
About Gores Guggenheim, Inc.
Gores Guggenheim,
Inc. (Nasdaq: GGPI, GGPIW, and GGPIU) is a special purpose acquisition company sponsored by an affiliate of The Gores Group, LLC, founded by Alec Gores, and by an affiliate of Guggenheim Capital, LLC. Gores Guggenheim completed its initial public
offering in April 2021, raising approximately USD 800 million in cash proceeds for the purpose of effecting a merger, capital stock exchange, asset acquisition, stock purchase, reorganization or similar business combination with one or more
businesses. Gores Guggenheims strategy is to identify and complete business combinations with market leading companies with strong equity stories that will benefit from the growth capital of the public equity markets and be enhanced by the
experience and expertise of Gores and Guggenheims long history and track record of investing in and operating businesses.
Forward-Looking Statements
Certain statements
in this press release (Press Release) may be considered forward-looking statements as defined in the Private Securities Litigation Reform Act of 1995. Forward-looking statements generally relate to future events or the future
financial or operating performance of Gores Guggenheim, Inc. (Gores Guggenheim), Polestar Performance AB and/or its affiliates (the Company) and Polestar Automotive Holding UK Limited (ListCo). For example,
projections of future Adjusted EBITDA or revenue and other
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