Polestar raises approximately $890 million gross proceeds; begins trading June 24 on Nasdaq under ticker "PSNY" Polestar and Gores Guggenheim, Inc. announced today the completion of their previously announced business combination (the "Business Combination")

The Business Combination was approved at a special meeting of Gores Guggenheim, Inc. stockholders on June 22, 2022. Polestar represents a unique combination of start-up agility, backed by nearly 100 years of manufacturing experience and industrial infrastructure. With two award-winning cars on the road in 25 markets, Polestars plans to increase sales volumes tenfold from approximately 29,000 cars in 2021 to 290,000 in 2025.

Polestar will launch three new premium electric models, including two SUVs, by 2024. The first, Polestar 3, a full-size electric SUV, will launch in October 2022. "Gores Guggenheim has been an excellent partner during this process and I send a big thank you to Alec Gores and his great team"

Polestar will be ringing the opening bell at Nasdaq in New York City on June 28, 2022 to celebrate the company's public listing. Polestar has proven itself to be a true leader and innovator with premier vehicles, industry-leading sustainability solutions, impressive sales and orders, and stunning designs for future models.
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