GGPI - Polestar commences deliveries on EV partnership with Hertz

Polestar, the Swedish electric performance car manufacturer, commenced delivery of new Polestar 2 electric cars to Hertz (NASDAQ:HTZ) under the agreement announced in April 2022 wherein Polestar will supply the global car rental giant with 65K cars over the next five years. The partnership between Polestar and Hertz is one of the largest single orders for electric cars ever made. Polestar's long-term plan is to increase annual sales to ~290K cars by 2025 end; growth is already underway wherein Polestar has taken 32K+ customer orders for Polestar 2 since 2022 start marking a 290% Y/Y growth. Polestar plans to list on the Nasdaq in a proposed business combination with Gores Guggenheim (NASDAQ:GGPI); transaction expected to close in June 2022.

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Polestar commences deliveries on EV partnership with Hertz