Polestar has opened a new retail location in Corte Madera,
California. Polestar Marin will offer sales, service, and test
drives of the Polestar 1 electric performance hybrid GT and the
Polestar 2 electric performance fastback. It will also service
customers living within a 150-mile radius via a free pickup and
delivery service program. Polestar Marin is located at The Village
at Corte Madera, 1700 Redwood Highway, Corte Madera, CA 94925.
“We continue to rapidly expand our Polestar Space network across
North America,” says Gregor Hembrough, Head of Polestar North
America. “With the addition of Polestar Marin, we continue to
redefine the premium experience within the San Francisco
market.”
In partnership with Price Simms Family Dealerships, the newest
Polestar Space in the San Francisco Bay Area will give customers
the opportunity to experience Polestar vehicles first-hand and ask
questions in a non-traditional retail environment. Test drives of
the brand’s first all-electric vehicle – Polestar 2 – can be
coordinated on-site or at home via Polestar.com/test-drive.
“We have seen a great reaction from customers since opening
Polestar Marin in a temporary location earlier this year, and we
are looking forward to welcoming them to the new permanent Space in
our hometown,” said Nick Price, Vice President of Operations at
Price Simms Family Dealerships. “Polestar has been a great addition
to the Price Simms family.”
Polestar also offers a convenient home delivery and service
program. Customers living within 150 miles of a Polestar Space can
have their Polestar vehicle retrieved and returned for servicing
free of charge, enabling a convenient Polestar ownership experience
without being troubled by vehicle service appointments.
For those living further than 150 miles from a Polestar Space,
Polestar offers a mobile service program in which a Polestar
technician will travel to the owner’s location for minor repairs or
software updates. Mobile service can be requested by contacting
Polestar Support 24/7 via phone or at polestar.com/contact.
Polestar Spaces are already open in 15 states. The brand’s
retail network is expected to grow to a total of 38 locations
across the country by the end of 2022.
This represents Polestar taking yet another step in
strengthening its future growth plans. In September 2021, the
company announced its intention to list on the Nasdaq stock
exchange in a business combination with Gores Guggenheim, Inc.
(Nasdaq: GGPI, GGPIW and GGPIU).
Ends.
For images and other media information, visit
polestar.com/press.
About Polestar Polestar was established as a new,
standalone Swedish premium electric vehicle manufacturer in 2017.
Founded by Volvo Cars and Geely Holding, Polestar enjoys specific
technological and engineering synergies with Volvo Cars and
benefits from significant economies of scale as a result.
Polestar is headquartered in Gothenburg, Sweden, and its
vehicles are currently available and on the road in markets across
Europe, North America,China and Asia Pacific. By 2023, the company
plans to be present in 30 global markets. Polestar cars are
currently manufactured in two facilities in China, with additional
future manufacturing planned in the USA.
In September 2021, Polestar announced its intention to list as a
public company on the Nasdaq in a business combination agreement
with Gores Guggenheim, Inc. Full information on this definitive
agreement can be found here.
In the US, the local Polestar office is located in the New York
metro area, in Mahwah, New Jersey. Polestar Spaces have been opened
in Los Angeles, the San Francisco Bay Area, and Orange County,
Calif.; New York City; Denver, Colorado; Boston; Central and
Southern New Jersey; Dallas; Austin; Detroit; Minneapolis; Phoenix;
Seattle; Atlanta; Charlotte, North Carolina; Connecticut, South
Florida, and Washington D.C., with more to follow in Central
California, the Pacific Northwest, and Hawaii.
Polestar has produced two electric performance cars. The
Polestar 1 was built between 2019 and 2021 as a low-volume electric
performance hybrid GT with a carbon fiber body, 619 hp, 738 lb-ft
of torque, and an electric-only range of 52 miles (EPA) – the
longest of any hybrid car in the world.
The Polestar 2 electric performance fastback is the company’s
first fully electric, high volume car. The Polestar 2 model range
includes three variants with a combination of long- and standard
range batteries as large as 78 kWh, and dual- and single-motor
powertrains with as much as 408 hp and 487 lb-ft of torque.
In the coming three years, Polestar plans to launch one new
electric vehicle per year, starting with Polestar 3 in 2022 – the
company’s first electric performance SUV. Polestar 4 is expected to
follow in 2023, a smaller electric performance SUV coupe.
In 2024, the Polestar 5 electric performance 4-door GT is
planned to be launched as the production evolution of Polestar
Precept – the manifesto concept car that Polestar released in 2020
that showcases the brand’s future vision in terms of design,
technology, and sustainability. As the company seeks to reduce its
climate impact with every new model, Polestar aims to produce a
truly climate-neutral car by 2030.
About Gores Guggenheim, Inc. Gores Guggenheim, Inc.
(Nasdaq: GGPI, GGPIW, and GGPIU) is a special purpose acquisition
company sponsored by an affiliate of The Gores Group, LLC, founded
by Alec Gores, and by an affiliate of Guggenheim Capital, LLC.
Gores Guggenheim completed its initial public offering in April
2021, raising approximately USD 800 million in cash proceeds for
the purpose of effecting a merger, capital stock exchange, asset
acquisition, stock purchase, reorganization or similar business
combination with one or more businesses. Gores Guggenheim's
strategy is to identify and complete business combinations with
market leading companies with strong equity stories that will
benefit from the growth capital of the public equity markets and be
enhanced by the experience and expertise of Gores' and Guggenheim’s
long history and track record of investing in and operating
businesses.
Forward-Looking Statements Certain statements in this
press release (“Press Release”) may be considered “forward-looking
statements” as defined in the Private Securities Litigation Reform
Act of 1995. Forward-looking statements generally relate to future
events or the future financial or operating performance of Gores
Guggenheim, Inc. (“Gores Guggenheim”), Polestar Performance AB
and/or its affiliates (the “Company”) and Polestar Automotive
Holding UK Limited (“ListCo”). For example, projections of future
revenue, volumes and other metrics are forward-looking statements.
In some cases, you can identify forward-looking statements by
terminology such as “may”, “should”, “expect”, “intend”, “will”,
“estimate”, “anticipate”, “believe”, “predict”, “potential”,
“forecast”, “plan”, “seek”, “future”, “propose” or “continue”, or
the negatives of these terms or variations of them or similar
terminology. Such forward-looking statements are subject to risks,
uncertainties, and other factors which could cause actual results
to differ materially from those expressed or implied by such
forward looking statements.
These forward-looking statements are based upon estimates and
assumptions that, while considered reasonable by Gores Guggenheim
and its management, and the Company and its management, as the case
may be, are inherently uncertain. Factors that may cause actual
results to differ materially from current expectations include, but
are not limited to: (1) the occurrence of any event, change or
other circumstances that could give rise to the termination of
definitive agreements with respect to the proposed business
combination between Gores Guggenheim, the Company, ListCo and the
other parties thereto (the “the Business Combination”); (2) the
outcome of any legal proceedings that may be instituted against
Gores Guggenheim, the combined company or others following the
announcement of the Business Combination and any definitive
agreements with respect thereto; (3) the inability to complete the
Business Combination due to the failure to obtain approval of the
stockholders of Gores Guggenheim, to obtain financing to complete
the Business Combination or to satisfy other conditions to closing;
(4) changes to the proposed structure of the Business Combination
that may be required or appropriate as a result of applicable laws
or regulations or as a condition to obtaining regulatory approval
of the Business Combination; (5) the ability to meet stock exchange
listing standards following the consummation of the Business
Combination; (6) the risk that the Business Combination disrupts
current plans and operations of the Company as a result of the
announcement and consummation of the Business Combination; (7) the
ability to recognize the anticipated benefits of the Business
Combination, which may be affected by, among other things,
competition, the ability of the combined company to grow and manage
growth profitably, maintain relationships with customers and
suppliers and retain its management and key employees; (8) costs
related to the Business Combination; (9) risks associated with
changes in applicable laws or regulations and the Company’s
international operations; (10) the possibility that the Company or
the combined company may be adversely affected by other economic,
business, and/or competitive factors; (11) the Company’s estimates
of expenses and profitability; (12) the Company’s ability to
maintain agreements or partnerships with its strategic partners
Volvo Cars and Geely and to develop new agreements or partnerships;
(13) the Company’s ability to maintain relationships with its
existing suppliers and strategic partners, and source new suppliers
for its critical components, and to complete building out its
supply chain, while effectively managing the risks due to such
relationships; (14) the Company’s reliance on its partnerships with
vehicle charging networks to provide charging solutions for its
vehicles and its strategic partners for servicing its vehicles and
their integrated software; (15) the Company’s ability to establish
its brand and capture additional market share, and the risks
associated with negative press or reputational harm, including from
lithium-ion battery cells catching fire or venting smoke; (16)
delays in the design, manufacture, launch and financing of the
Company’s vehicles and the Company’s reliance on a limited number
of vehicle models to generate revenues; (17) the Company’s ability
to continuously and rapidly innovate, develop and market new
products; (18) risks related to future market adoption of the
Company’s offerings; (19) increases in costs, disruption of supply
or shortage of materials, in particular for lithium-ion cells or
semiconductors; (20) the Company’s reliance on its partners to
manufacture vehicles at a high volume, some of which have limited
experience in producing electric vehicles, and on the allocation of
sufficient production capacity to the Company by its partners in
order for the Company to be able to increase its vehicle production
capacities; (21) risks related to the Company’s distribution model;
(22) the effects of competition and the high barriers to entry in
the automotive industry, and the pace and depth of electric vehicle
adoption generally on the Company’s future business; (23) changes
in regulatory requirements, governmental incentives and fuel and
energy prices; (24) the impact of the global COVID-19 pandemic on
Gores Guggenheim, the Company, the Company’s post business
combination’s projected results of operations, financial
performance or other financial metrics, or on any of the foregoing
risks; and (25) other risks and uncertainties set forth in the
section entitled “Risk Factors” and “Cautionary Note Regarding
Forward-Looking Statements” in Gores Guggenheim’s final prospectus
relating to its initial public offering (File No. 333-253338)
declared effective by the U.S. Securities and Exchange Commission
(the “SEC”) on March 22, 2021, and other documents filed, or to be
filed, with the SEC by Gores Guggenheim or ListCo, including the
Registration/Proxy Statement (as defined below). There may be
additional risks that neither Gores Guggenheim, the Company nor
ListCo presently know or that Gores Guggenheim, the Company or
ListCo currently believe are immaterial that could also cause
actual results to differ from those contained in the
forward-looking statements.
Nothing in this Press Release should be regarded as a
representation by any person that the forward-looking statements
set forth herein will be achieved or that any of the contemplated
results of such forward-looking statements will be achieved. You
should not place undue reliance on forward-looking statements,
which speak only as of the date they are made. Neither Gores
Guggenheim, the Company nor ListCo undertakes any duty to update
these forward-looking statements.
Additional Information In connection with the proposed
Business Combination, (i) ListCo has filed with the SEC a
registration statement on Form F-4 containing a preliminary proxy
statement of Gores Guggenheim and a preliminary prospectus (the
“Registration/Proxy Statement”), and (ii) Gores Guggenheim will
file a definitive proxy statement relating to the proposed Business
Combination (the “Definitive Proxy Statement”) and will mail the
Definitive Proxy Statement and other relevant materials to its
stockholders after the Registration/Proxy Statement is declared
effective. The Registration/Proxy Statement contains and the
Definitive Proxy Statement will contain important information about
the proposed Business Combination and the other matters to be voted
upon at a meeting of Gores Guggenheim stockholders to be held to
approve the proposed Business Combination. This Press Release does
not contain all the information that should be considered
concerning the proposed Business Combination and is not intended to
form the basis of any investment decision or any other decision in
respect of the Business Combination. Before making any voting or
other investment decisions, securityholders of Gores Guggenheim and
other interested persons are advised to read, the
Registration/Proxy Statement and the amendments thereto and the
Definitive Proxy Statement and other documents filed in connection
with the proposed Business Combination, as these materials will
contain important information about Gores Guggenheim, the Company,
ListCo and the Business Combination. When available, the Definitive
Proxy Statement and other relevant materials for the proposed
Business Combination will be mailed to stockholders of Gores
Guggenheim as of a record date to be established for voting on the
proposed Business Combination. Stockholders will also be able to
obtain copies of the Registration/Proxy Statement, the Definitive
Proxy Statement and other documents filed with the SEC, without
charge, once available, at the SEC’s website at www.sec.gov, or by
directing a request to: Gores Guggenheim, Inc., 6260 Lookout Rd.,
Boulder, CO 80301, attention: Jennifer Kwon Chou.
INVESTMENT IN ANY SECURITIES DESCRIBED HEREIN HAS NOT BEEN
APPROVED OR DISAPPROVED BY THE SEC OR ANY OTHER REGULATORY
AUTHORITY NOR HAS ANY AUTHORITY PASSED UPON OR ENDORSED THE MERITS
OF THE OFFERING OR THE ACCURACY OR ADEQUACY OF THE INFORMATION
CONTAINED HEREIN. ANY REPRESENTATION TO THE CONTRARY IS A CRIMINAL
OFFENSE.
Participants in the Solicitation Gores Guggenheim and
certain of its directors and executive officers may be deemed
participants in the solicitation of proxies from Gores Guggenheim’s
stockholders with respect to the proposed Business Combination. A
list of the names of those directors and executive officers and a
description of their interests in Gores Guggenheim is set forth in
Gores Guggenheim’s filings with the SEC (including Gores
Guggenheim’s final prospectus related to its initial public
offering (File No. 333-253338) declared effective by the SEC on
March 22, 2021), and are available free of charge at the SEC’s
website at www.sec.gov, or by directing a request to Gores
Guggenheim, Inc., 6260 Lookout Rd., Boulder, CO 80301, attention:
Jennifer Kwon Chou. Additional information regarding the interests
of such participants is contained in the Registration/Proxy
Statement and will be contained in the Definitive Proxy
Statement.
The Company and ListCo, and certain of their directors and
executive officers may also be deemed to be participants in the
solicitation of proxies from the stockholders of Gores Guggenheim
in connection with the proposed Business Combination. A list of the
names of such directors and executive officers and information
regarding their interests in the proposed Business Combination is
included in the Registration/Proxy Statement and will be included
in the Definitive Proxy Statement.
No Offer and Non-Solicitation This Press Release is not a
proxy statement or solicitation of a proxy, consent or
authorization with respect to any securities or in respect of the
potential transaction and shall not constitute an offer to sell or
a solicitation of an offer to buy the securities of Gores
Guggenheim, the Company or ListCo, nor shall there be any sale of
any such securities in any state or jurisdiction in which such
offer, solicitation, or sale would be unlawful prior to
registration or qualification under the securities laws of such
state or jurisdiction. No offer of securities shall be made except
by means of a prospectus meeting the requirements of the Securities
Act of 1933, as amended.
View source
version on businesswire.com: https://www.businesswire.com/news/home/20211216006012/en/
General media queries napress@polestar.com John Paolo Canton,
Public Relations and Communications, North America
jp.canton@polestar.com Donny Nordlicht, Public Relations, North
America donny.nordlicht@polestar.com
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