Filed by Polestar Automotive Holding UK Limited
Pursuant to Rule 425 under the Securities Act of 1933
and deemed filed pursuant to 14a-12 under the
Securities Exchange Act of 1934
Form F-4 File No. (333-260992)
Subject Companies:
Polestar Automotive Holding UK Limited
Gores Guggenheim, Inc.
(Commission File No. 001-40265)
Polestar Delivering on Global Market and Retail Expansion Plans; Ready for Further Growth
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F-4 registration/proxy statement filed, next step on road to
NASDAQ listing.
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Strong global market expansion continues; on the road in 14 markets today. Further markets already planned.
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Rapid physical sales footprint expansion; 46 new retail locations in 2021, of which 20 in United States.
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Polestar 2 continues to drive brand awareness; 50+ awards to date.
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November 15, 2021 07:30 AM Eastern Standard Time
GOTHENBURG, Sweden(BUSINESS WIRE)Polestar Automotive Holding UK Limited has filed a Registration/Proxy Statement with the U.S. Securities
and Exchange Commission (the SEC) on November 12, 2021. The filing follows the September announcement of Polestars intention to list on Nasdaq in connection with its proposed business combination (the Business
Combination) with Gores Guggenheim, Inc. (Nasdaq: GGPI, GGPIW and GGPIU). The Business Combination is expected to close in the first half of 2022.
Polestar continues to deliver on its market and retail expansion plans that underpin significant growth targets over the coming years. The brand is expected
to be operating in 30 markets by the end of 2023 as it is looking to ramp up sales to 290,000 vehicles by the end of 2025.
We have driven
tremendous growth since beginning full scale activity in 2020, underpinned by organic market expansion, strong interest in our award-winning Polestar models and benefits from post-pandemic retail tailwinds, says Thomas Ingenlath, Polestar CEO.
We look forward to further accelerating growth by expanding our global presence and continuing to innovate our product portfolio.
Polestar
began full-scale activity with 10 global markets in 2020 and is on the road in 14 markets today. Market expansion continues and in the first half of 2022, Spain, Portugal and Ireland are planned to be added to the European market footprint, with
Israel planned to expand presence in the Middle East.
The expansion of Polestars global retail presence has also picked up. A total of 86 Polestar
retail locations are now open globally, up from 40 at the end of 2020. These Polestar retail locations include downtown Polestar Spaces, easily accessible out-of-town
Polestar Destinations and Polestar test drive centers. The latest additions include facilities in New York City and Boston in the U.S., where, after a surge of new openings, a total of 25 facilities are expected to be in operation by the end of
2021.