Polestar Planning Rivian-Like IPO

Industry News / Comments

This could help the Swedish brand become even better.

Polestar, the Swedish offshoot of Volvo, hasn't created many vehicles yet, but it has big plans for the future. It has even bigger presumptions about itself and its competition, but with the electric automaker working hard to release the Polestar 4 very soon, a more diverse product offering could indeed better align the marque with other luxury brands. Although Polestar is backed by a wealthy conglomerate, more funding is always welcome as the brand aims to meet these goals of new vehicles and innovations, and now the EV-maker is taking a leaf from Rivian's book, working to get itself listed on the NASDAQ exchange.

Polestar
Polestar

Polestar Automotive Holding UK Limited has announced that it has filed a registration/proxy statement with the US Securities and Exchange Commission (SEC) on November 12, bringing it a step closer to that NASDAQ initial product offering (IPO).

That's not all that's planned though, as Polestar is expanding in the retail sector with 86 dealers now open globally, up from 40 at the end of last year. In 2020, it had "full-scale activity" in ten markets, and that has now increased to 14. Expansion will continue next year as Spain, Portugal, and Ireland are expected to be added to its European dealer network, while Israel is also in the cards.

2024 Polestar Precept Forward Vision Polestar
2024 Polestar Precept Open Door Polestar
2024 Polestar Precept Rearward Vision Polestar
5 Things We Love About The New Toyota Tundra
5 Things We Love About The New Toyota Tundra
10 Facts Everyone Should Know About BMW
10 Facts Everyone Should Know About BMW

The launch of the Polestar 2 is the driving force behind the increased interest that the brand is currently enjoying, with the brand reporting more than 110,000 test drives of the vehicle culminating in more than 50 awards thus far. Polestar also says that more than two million people have visited its various retail locations since deliveries began in August of last year. Polestar CEO Thomas Ingenlath says that the brand is not slowing anytime soon: "This expansion will be fueled by our plan to launch a new car every year for the next three years."

If all goes according to plan, Polestar will increase its annual sales to 290,000 vehicles by 2025. Not bad for a niche automaker founded in 2017.

2021-2022 Polestar Polestar 2 Front Angle View Polestar
2021-2022 Polestar Polestar 2 Rear View Driving Polestar

Join The Discussion

Gallery

2021-2022 Polestar Polestar 2 Rear View Driving
2024 Polestar Precept Open Door
2024 Polestar Precept Forward Vision
2024 Polestar Precept Rearward Vision
7
Photos
Back
To Top