A premium EV company with an asset light business model that rides on the infrastructure of existing car manufacturers, Polestar is a Swedish automobile brand with manufacturing capabilities in China. With a forecasted 92% revenue CAGR up to 2025, this EV company is due to start listing via a SPAC. Let’s take a look at the company to see if it can become the next Tesla: Polestar’s SPAC listing Overview Here is a brief overview of the indicative details from Polestar’s SPAC listing with Gores Guggenheim, Inc (Nasdaq: GGPI):

• The SPAC Price will be $10
• SPAC Merger approval to be on 22^nd June 2022 and likely to commence trading shortly after
• Combined SPAC market capitalisation of around $21.3 billion
• Total capital raised: $995 million (after deducting $55 million in fees)
• Enterprise value of $20 billion implies a FY23 EV/Revenue of 3.1x and FY24 1.5x

What is Polestar? Founded in 1996, initially focused on racing cars, it has since evolved into an...