The exuberance sent some company valuations into overdrive, creating what some see as a stock market bubble.
The Volvo affiliate has agreed to a reverse merger with special-purpose acquisition company Gores Guggenheim.
In April, the company inked a deal to supply rental giant Hertz with 65,000 battery-powered vehicles.
Polestar has said it will not need to add an assembly plant to meet its 2025 volume target of 290,000 vehicles — which is 10 times last year’s deliveries.