Polestar IPO faces a cooling market for EV stocks | Automotive News

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.

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