I have never met/worked for a PE whose intended exit wasn’t going public or sale to a public company. Geely is also looking for a way for Volvo to go public on NASDAQ in Stockholm. It looks like buying Polestar let’s them platform share, build all electric, and SPAC/IPO (what a time to live!) that piece in the US. Not quite 2 bites at the same apple, but close.
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Happy to see an off-ramp post I started two and a half years ago is still gathering comments. 
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At $25B, that crushes TSLA at valuation / vehicle delivery. 
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Interesting stuff here: Can Polestar design a new kind of car company? - The Verge
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*Gores Guggenheim SPAC Nears Deal to Combine With Polestar, Sources Say
*Deal Would Value Electric-Vehicle Maker at $20B With Debt, Sources Say
*Polestar Deal Could Be Finalized This Week, Sources Say
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Valuations these days are stoupid dum
WSJ exclusive, I just read.
https://www.wsj.com/articles/gores-guggenheim-spac-nears-deal-to-combine-with-polestar-11632694281
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That is an astounding valuation for a company that has a handful of delivery centers, two half-platforms, both of which are manufactured in their former parent companie’s factories. Good for them.
It’s a cheap valuation to back door into Volvo’s future-valuable IP.
What does Polestar have that’s unique to Polestar and not shared? I’m scratching my head at this one. No market share, no name recognition, no dealer network, no unique IP, barely any unique design language. Pretty silly valuation compared to traditional automakers, many of which seem to be ahead in BEV tech.
They have Geely’s (and its owner’s) backing and Volvo’s design. I guess it’s good enough.
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test drove a polestar 2. far better car than a model 3. obviously, higher price point, but feels sturdy, good build quality. polestars will be a direct to consumer brand, just like tesla. believe they will sell well.
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I can’t wait to see the production precept cruising around. That’s a really good looking car.
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AWD or FWD?
we only have awd models for some reason.
When they separate, what remains? I like Polestar as part of Volvo, I’m just not sure what they are without Volvo.
Back looks bufu— also the website isn’t smooth like a sexy exy Instagram models butt
Note: I said sexy.
The Ux on the website needs work
They will never really separate from Geely, I think. The same with Volvo. Geely has good things going at Volvo and Polestar.
Not a WSJ subscriber so if these details were there, I missed them
+Leonardo DiCaprio
+$1.05B of the moneyz toward bringing three new EVs to market (how generous!), pretty consistent with prior reporting.
GG justifying the valuation because of Geely’s manufacturing capacity on multiple continents.
As SPAC transactions go, this wasn’t a particularly fast one — nearly 3 months from rumor to close, if it closes.
Leo bit was surprising, didn’t know that
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