London’s Tulchan Communications is handling Sweden’s Polestar as the pure-play electric performance car company plans to go public in a SPAC deal valued in the $20B range.
Founded in 2017 by Volvo Cars and its parent company Zhejiang Geely Holding of China, Polestar delivered 10K cars in 2020 and expects to produce 290K vehicles a year by 2024. The company will roll out its first SUV model next year.
CEO Thomas Ingenlath said the SPAC formed by Gores Group and Guggenheim Partners will position Polestar as a financially strong, future proof and global electric car company on the mission towards sustainable mobility.
Shares of Polestar Automotive Holding UK Limited will trade on the NASDAQ under the symbol PSNY. Leonardo DiCaprio is among investors in the company.
Tulchan’s Simon Pilkington and Harry Cameron represent Polestar.