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Swedish EV maker Polestar to go public via merger with SPAC Gores Guggenheim in $20 billion deal

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Swedish EV maker Polestar to go public via merger with SPAC Gores Guggenheim in $20 billion deal
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Swedish electric car maker Polestar Performance AB said Monday it is going public via a merger with special purpose acquisition company Gores Guggenheim Inc. in a deal with an implied enterprise value of about $20 billion. The new company will be renamed Polestar Automotive Holding UK Limited and is expected to be listed on Nasdaq under the ticker symbol "PSNY". Polestar was founded in 2017 by Volvo Cars and Zhejiang Geely Holding and is a pure play electric car maker with two vehicles, the Pole