Polestar’s SPAC brings its value to a mammoth $20 billion

Swedish electric car maker Polestaris the latest company planning a deal to go public through a special purpose acquisition company (SPAC). A deal with Gores Guggenheim Inc will raise a whopping $20 billion. As a result, Polestar gains three times its projected revenues for 2023. Some history and context. Polestar is jointly owned by Volvo Cars and Chinese auto company Geely. Following the success of the Polestar 1 and 2 EVs, the company raised in April $550 million in