Deutsche Bank started off coverage on Polestar Automotive Holdings ( NASDAQ: PSNY ) with a Hold rating.
Analyst Emmanuel and team believe Polestar's ( PSNY ) key strength is the intimate partnership with Geely and Volvo, which they say creates an asset-light business model to speed up the time to market and reduce manufacturing and supply risk. Over the next year, the partnerships are seen allowing PSNY to focus on design, expansion and brand building.
Deutsche Bank also noted that unlike many other EV startups, Polestar ( PSNY ) has already delivered more than 50K vehicles globally and is on track to deliver 50K units this year alone.
The German firm assigned a price target of $10 to Polestar ( PSNY ).
Shares of PSNY rose 0.34% premarket on Monday to $8.92 vs. the post-SPAC range of $8.55 to $16.41.
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Polestar Automotive is tipped by Deutsche Bank to benefit from partnerships