Polestar is apparently close to completing the proposed SPAC merger with investment firm Gores Guggenheim that was first leaked in July. The official announcement could be made in the course of today, Monday.
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Polestar CEO Thomas Ingenlath revealed new information about the Polestar 3 at the IAA Mobility. The brand wants to offer the electric SUV with one as well as two drives. Ingenlath also gave new details about the interior.
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Polestar has announced that the single-engine variants of the Polestar 2, which were introduced in the spring, will be delivered for the first time this month. The Swedish-Chinese brand also plans to expand further globally.
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In Norway, 11,811 new electric cars were registered in August. The share of electric cars in new passenger car registrations was 71.9 per cent last month. Norway’s most successful model across all drive types in August was the Tesla Model Y with 1,308 new registrations.
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Volkswagen is the most innovative car company in 2021 – ahead of Daimler and Tesla. This is the result of a new study by the German Center of Automotive Management (CAM), which regularly publishes rankings of the most innovative corporations and premium brands.
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Swedish electric vehicle brand Polestar announced the extended range, lower pricing, and bespoke configuration for the model year 2022 Polestar 2 in the USA. Prices for the single motor version start at $45,000 before subsidies.
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Electric car brand Polestar will enter nine new markets later this year, doubling its presence to 18 markets worldwide. By the end of the year, the number of brick and mortar locations worldwide is also expected to double to around 100.
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Volvo Cars announced the acquisition of additional shares in electric car brand Polestar, bringing the car company’s stake back up to 49.5 per cent. Meanwhile, a media report says that Polestar is currently negotiating an IPO.
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The Swedish car manufacturer Volvo Cars will convert its Ridgeville plant in the US state of South Carolina into an all-electric car production facility. The company says that here, the fully electric cars “of the new generation will be built” before Europe and China.
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Volvo Car Group and Northvolt want to set up a joint venture to develop and produce more sustainable batteries tailored to power Volvo’s and Polestar’s next generation of pure electric cars. The plans include R&D and a large scale cell factory in Europe.
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Swedish electric car brand Polestar announces that its first SUV model, called Polestar 3, will be produced locally for customers in the US, at Volvo Cars’ Ridgeville manufacturing centre. Production of the Polestar 3 is expected to begin globally in 2022.
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Electric car manufacturer Polestar is exploring a wide-ranging alliance with South Korean conglomerate SK to advance the development of electric cars. The possible collaboration also includes a potential supply of SK batteries for upcoming Polestar vehicles.
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Drivers of electric cars from Volvo and Polestar may rejoice. The companies’ partnerships with Plugsurfing is reaping fresh tariffs with a significant price reduction for ultra-rapid charging at Ionity stations.
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Polestar has entered into a strategic partnership with blockchain provider Circulor. One element of the partnership is the tracking of CO2 equivalents through the supply chain. This is intended to help achieve Polestar’s goal of building a carbon-neutral car by 2030.
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Polestar has raised US$550 million from a group of long-term financial investors. With this private placement of newly issued shares, the company says “for the first time, external financiers demonstrated their confidence in Volvo’s electric car brand”.
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In the UK, Octopus Energy Group‘s EV arm, Octopus Electric Vehicles has launched a new leasing service called Electric Dreams. The service aims to help employees make the switch to clean driving easier and cheaper.
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Polestar is expanding the range for its purely electric hatchback Polestar 2. Three drive trains are now available. In addition to the already available dual-motor drive with 300 kW output and a 78 kWh battery, there are now also two variants with front-wheel-drive.
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German industrial designer Konstantin Grcic has teamed up with electric car brand Polestar, aluminium manufacturer Hydro and electric motorcycle maker Cake to create a concept of a multifunctional electric cargo vehicle for the city of the future called ‘Re:Move’.
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EV charging network operator ChargePoint and Volvo’s electric car subsidiary Polestar announced a new charging partnership. The debut includes an in-vehicle charging app for the Polestar 2 electric sedan.
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Polestar, Volvo’s electric car brand from Sweden, says it was expanding its retail presence across the United States with plans to open new Polestar Spaces in 15 cities by the end of this year. First cities will see the showrooms open within a few months.
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Volvo owner Geely and Volvo Cars have announced that they will forego their proposed merger and instead significantly deepen their existing cooperation as two separate companies. This includes, among other things, expanded joint use of modular architectures for electric cars.
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Volvo subsidiary and electric car manufacturer Polestar is in talks with investors to raise at least 500 million US dollars. At this stage, the corresponding financing round has not yet been concluded.
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The problems with the Polestar 2 are apparently more serious than previously assumed. In an official statement, Polestar has announced a recall campaign so the company can replace defective inverters in most of the customer vehicles delivered.
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PSA has temporarily halted the market launch of Polestar in France with a lawsuit. PSA claims that the logo of the Swedish-Chinese electric car brand is too similar to those of Citroën and DS.
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Geely plans to build a new plant in the Chinese city of Chongqing, where electric cars will be produced for the Polestar brand. The new plant is reported to plan production capacities for “30,000 premium electric vehicles” annually.
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The US EPA has published its range ratings for the all-electric models Volvo XC40 Recharge and Polestar 2 with surprisingly low values: 208 miles (335 km) for the Volvo XC40 Recharge and 233 miles (375 km) for the Polestar 2.
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Following reports of problems with the all-electric Polestar 2 after deliveries started a few weeks ago, Polestar confirmed that they detected “a software error in the battery power control module, which, in very rare cases and without warning can lead to a loss of drive”.
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Polestar announced that the Polestar Precept concept presented earlier this year would go into production. CEO Thomas Ingenlath said it would take “at least three years” before the company can begin producing the fully electric four-door Grand Tourer.
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After Polestar started European delivery of the purely electric Polestar 2 at the end of July in Sweden and Norway, customers in Germany are now getting their turn.
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Polestar has started deliveries of the Polestar 2 earlier than planned. The first European customer vehicle has now been handed over at the company’s headquarters in Gothenburg, which is ahead of schedule and was not supposed to take place until August.
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