Friday, March 29, 2024
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And it’s a no brainer that in the 21st century we will switch to electric vehicles.

And it’s a no brainer that in the 21st century we will switch to electric vehicles. But so far they are not so widespread and manufacturing companies are only startups. But Polestar competes with Tesla itself and for a reason.

In the early 2000s, Polestar was Volvo's tuning division that modified their car for circuit racing. Not Formula 1, but quite worthy. Until 2017, this is exactly what the company was doing - it was finalizing the cars of dear customers.

In 2017, the Chinese company Geely, the owner of Volvo and our heroes, decided it was time to get into electric cars. And she did it on the basis of Polestar. In 2018, the company showed its first creation - the Polestar 1 hybrid car. Polestar 2 was released in 2020 and in all respects was no worse than the famous Tesla. The company plans to compete with Porshe for the title of the best premium electric car manufacturer.

The company is already planning to go public, but not through an IPO, but through SPAC. Polestar will team up with Gores Guggenheim to give them at least $ 1 billion in annual revenues.


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