Swedish electric-car maker Polestar said on Monday it will go public by merging with a blank cheque firm backed by billionaire Alec Gores and investment bank Guggenheim Partners at a valuation of $20bn Polestar's listing plan comes as automakers shift their focus to environment friendly vehicles amid rising pressure from lawmakers and investors concerned about climate change., assuming no share redemptions by public stockholders of the blank cheque firm.from top tier institutional investors.
The company, which delivered about 10,000 vehicle last year, said it expects to sell about 290,000 vehicles per year by 2025 and plans to launch three new models by 2024.
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