Polestar stock

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Polestar stock

Swedish-based electric car manufacturer Polestar catapulted itself into the public eye in spectacular fashion in February following a polarizing ad spot during the Superbowl. The company only needed 30 seconds to get its point across, promising an uncompromising approach to making vehicles while also taking some notable shots at rivals Tesla and Volkswagen. With more people talking about the company than ever before, we're all no doubt wondering how we can buy shares in Polestar. Before we answer that though, let's take a little look under the hood first. Polestar is currently majority-owned by fellow Swedish auto manufacturer Volvo following a purchase in The company is headquartered in Gothenburg, Sweden, and develops electric performance cars. Its Superbowl showing was designed around the Polestar 2, the first car of any kind to have an operating system exclusively powered by Google -- a company that knows a thing or two about tech. Polestar went public on June 24, Once the merger was formally approved by Gores Guggenheim's shareholders, Polestar was able to begin trading. CEO Thomas Ingenlath stated that the funds acquired from going public would be used to put into place a three-year plan aimed at profitability. We don't know too much about Polestar's overarching financials, as it escapes the rigorous reporting standards by debuting via SPAC as opposed to following the traditional IPO route. What we do know, however, is that it is already steadily producing and delivering vehicles, unlike many of the electric vehicle EV startups we've seen in the last number of years.

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Polestar stock

The competition in the EV industry has been heating up. While Tesla still sells the most electric cars, legacy automakers like Volkswagen, Ford, and General Motors are catching up. Startup EV companies which include the likes of Lucid Motors and Rivian, both of which listed in , are also trying to scale up production amid the global supply chain crisis. In the short term, Polestar's stock forecast would depend on both the macro environment and supply chain issues. Polestar has also lowered its delivery guidance by 15, units to 50, units. Rivian and Lucid have also toned down their production guidance amid the supply chain issues. Unlike many other EV companies that went public during the pre-production stage, Polestar is selling cars and has two models while the third one will launch in October. PSNY is also building a plant in the U. While most startup EV companies are focusing on their domestic markets, Polestar is present in 23 markets and plans to increase its reach to 30 by the end of Polestar would also benefit from its association with Volvo.

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Shares of Polestar made their public-market debut under the ticker "PSNY" on Friday, making it the latest electric vehicle maker to go public via a merger with a special purpose acquisition company, or SPAC.

Don't want a Tesla? Show more. If I were. My Watchlist. Polestar Automotive Holding UK does not currently pay dividends. Karl-Thomas Neumann td:not. Next: —. Dividend yield indicated. Prices provided by Reuters. Here are your top 5 EV options Yahoo Finance. Volvo stock surges on strong sales and EV deliveries, will no longer fund Polestar Yahoo Finance