Thursday, November 4, 2021

Electric cars: Polestar

Polestar is a Swedish automotive brand established in 1996 by Volvo Cars' partner Flash/Polestar Racing and acquired in 2015 by Volvo, which itself was acquired by Geely in 2010. Geely describes the Polestar brand as "independent" from 2017 onwards and "co-owned" by it and Volvo Cars.
  • Founded: 1996
  • Headquarters: Gothenburg, Sweden
  • Parent organizations: Geely, Zhejiang Geely Holding Group (China)
  • Volvo was going bankrupt in the late 1990s and Sweden would not bail them out. So Ford bought Volvo in 1999 and then sold it to the Chinese company (Geely Motors) in 2010.
  • The Polestar 1 will be built at the rate of one or two per shift at a new Polestar specific plant in China.
Polestar signed an agreement in late September 2021 to be publicly listed through combination with Gores Guggenheim (GGPI), valuing the company at $20B.
Polestar will be 83% owned by the Chinese company Geely and the cars are being made in China. As reported, only 3.5% of the stock is available to the public.

The Polestar 1's wheels measure 21 inches in diameter, fitted with 275/30 and 295/30 (rear) Pirelli P Zeros.

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