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Polestar Makes a Move to Take On Tesla

Swedish electric vehicle company Polestar is set to go public on the the Nasdaq on June 24, joining several other automakers in the highly competitive EV market. The company, which is jointly owned by Volvo and China’s Geely, will trade on the Nasdaq under the ticker symbol PSNY through a Special Acquisition Company, Gores Guggheim (GGPI), that is backed by billionaire investor Alec Gores and investment bank Guggenheim Partners. Shareholders of Gores Guggenheim Inc. approved the merger on June 22.

These ‘zombie’ companies could feel the cash burn, warns New Constructs

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