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Polestar says it expects to complete SPAC merger

FILE PHOTO: A Polestar electric vehicle for export is seen in front of Volvo sport utility vehicles (SUVs) at a Geely plant in Taizhou, Zhejiang province, China July 29, 2020. Picture taken July 29, 2020. REUTERS/Yilei Sun/File Photo (REUTERS)Premium
FILE PHOTO: A Polestar electric vehicle for export is seen in front of Volvo sport utility vehicles (SUVs) at a Geely plant in Taizhou, Zhejiang province, China July 29, 2020. Picture taken July 29, 2020. REUTERS/Yilei Sun/File Photo (REUTERS)
wsj

  • Unit of Chinese car maker Zhejiang Geely Holding Group will combine with Gores Guggenheim and begin trading Friday

Polestar expects shareholders in a special-purpose acquisition company to approve a merger on Wednesday with the Swedish electric-vehicle maker, in a deal that the company said will raise around $850 million and help fund its future model development.

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