{"id":19663,"date":"2022-06-24T07:55:45","date_gmt":"2022-06-24T14:55:45","guid":{"rendered":"https:\/\/marketdepth.com\/?p=19663"},"modified":"2022-06-24T07:55:46","modified_gmt":"2022-06-24T14:55:46","slug":"polestar-made-its-public-market-debut-friday-under-ticker-psny","status":"publish","type":"post","link":"https:\/\/marketdepth.com\/polestar-made-its-public-market-debut-friday-under-ticker-psny\/","title":{"rendered":"Polestar Made its Public-Market Debut Friday Under Ticker PSNY"},"content":{"rendered":"\n
Polestar<\/strong> made its public-market debut Friday under the ticker \u201cPSNY\u201d amid its merger with special purpose acquisition company Gores Guggenheim. The company is the latest electric vehicle maker to go public amid a SPAC merger. <\/p>\n\n\n\n The company intends to use the USD850 Million of new capital to fund its plan to manufacture more electric models and generate profit. The automaker, which is a joint venture between Volvo and Chinese auto giant Geely, is surpassing its initial startup status.<\/p>\n\n\n\n \u201cWe go public as an operating and successful business \u2014 not to raise capital to build a business. It\u2019s because the next three years will be super-fast growth, the company is geared up for that with the product portfolio.\u201d<\/p>Thomas Ingenlath, CEO of Polestar told CNBC in a recent interview<\/cite><\/blockquote>\n\n\n\n As opposed to other EV startups that have gone public amid a SPAC deal, Polestar has already sold and delivered its Polestar 2 electric fastback sedan to customers throughout the US, Europe and China since 2020. <\/p>\n\n\n\n Polestar\u2019s next EV, the Polestar 3 SUV, will launch in October of this year and will be manufactured within the US. Additionally, the company says that it recently landed a deal that could be worth more thann USD3 Billion to sell 65,000 cars to Hertz.<\/p>\n\n\n\n \u201cThis is a hugely proud moment for the entire team at Polestar,\u201d Ingenlath said in a statement. \u201cWe will now open a new chapter in our story that can be summarised in one word \u2013 growth.\u201d<\/p>\n\n\n\n Polestar hope to be operating sales and service networks in 30 countries by the end of 2022, though Ingenlath believes the company would reach that milestone sooner.<\/p>\n","protected":false},"excerpt":{"rendered":"Polestar made its public-market debut Friday under the ticker \u201cPSNY\u201d amid its merger with special purpose acquisition company Gores Guggenheim. The company is the latest electric vehicle maker to go public amid a SPAC merger. Using Capital for Manufacuring The company intends to use the USD850 Million of new capital to fund its plan to… View Article<\/a>","protected":false},"author":3,"featured_media":19665,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"pmpro_default_level":0,"footnotes":""},"categories":[10,31,7,16],"tags":[],"acf":[],"yoast_head":"\nUsing Capital for Manufacuring<\/h5>\n\n\n\n
Polestar 3 Launching in October<\/h5>\n\n\n\n