GGPI - Polestar CEO on EV valuations: Everybody understands EVs are the future

Polestar CEO Thomas Ingenlath argued Wednesday that the high valuations given to electric vehicle companies stem from a recognition that EVs will eventually take over the auto industry. "Everybody understands that EVs are the future and that's what the market is investing into," the CEO of Polestar, which has a SPAC deal to come public with Gore Guggenheim (NASDAQ:GGPI), told CNBC. Ingenlath added that the key for EV companies will be to live up to the high expectations the market has placed on them. "It's all about making real what your promises are," he said. The Polestar CEO noted that the company is on track to deliver 29,000 vehicles in 2021, leading to projected revenue for the year of $1.6B. He added that the main constraint for auto makers in the current economy doesn't come from demand but rather from supply. Ingenlath asserted that sales volume in the current market

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Polestar CEO on EV valuations: Everybody understands EVs are the future