Volvo and Geely are preparing to go public on their company auto electric with a valuation of $ 20 billion

Sweden’s Polestar is close to reaching a listing agreement with a merger with Goris Guggenheim, a special purpose acquisitions company (SPAC), with a valuation of up to $ 20 billion that includes the company’s debt, according to reports. media foreigners.

The manufacturer of auto luxury electric, owned by both Geely and Volvo, could announce a listing in bag this week.

Polestar raised about $ 550 million from outside sources last April and in June announced plans to build two auto electric sports cars at the Volvo South Carolina plant starting in the first half of 2020.

Over the next nine years, the Swedish company Polestar will work to develop the “Polestar 0” and its manufacturing process in way to produce zero carbon dioxide emissions. This is part of the company’s broader goal of achieving carbon neutrality by 2040.

In 2017, the emerging manufacturer of auto Volvo’s electric and Chinese automaker Geely have committed to conducting life cycle assessments of all new ones auto, starting with the Polestar 2, launched in 2019.

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