Latest News by Industry
• Polestar shares were up 15.8% from the SPAC’s final closing price on Thursday
Electric vehicle maker Polestar (NASDAQ: PSNY) made its market debut on Friday as it went public via a merger with a special purpose acquisition company, or SPAC.
The EV maker began trading on the Nasdaq exchange, under the ticker “PSNY”, after its merger with the SPAC Gores Guggenheim.
Polestar shares were up 15.8% from the SPAC’s final closing price on Thursday, at $13.00.
The fund raised by the merger deal will be used for its three-year plan to build new vehicles.
Polestar, which has more than 55,000 vehicles on the road in China, Europe and the US, has a functional factory in China. Volvo Cars owns 48% of the company
Picture Credits: Polestar
ALSO READ: