The Next Lucid Motors/CCIV? 7 Things to Know About GGPI’s Polestar SPAC Merger Talks

Investors in Gores Guggenheim (NASDAQ:GGPI) certainly have had some interesting news to interpret as of late. Talks between GGPI and Polestar have made for intriguing SPAC (special purpose acquisition company) merger speculation. Indeed, questions about whether such a merger would result in the next Lucid Motors/CCIV combination remain a hot topic today.

A photo of an electric car with the charger plugged in.
Source: Nick Starichenko/

Such speculation is always fascinating. Plus, the electric vehicle (EV) space is one that’s ripe for such speculation. Companies hoping to access equity markets sooner are increasingly looking at SPACs as the vehicle of choice. For early-stage EV companies like Polestar, this tie-up could be beneficial for shareholders bullish on this space.

Currently, the ongoing talks between these two parties are just that — talks. Nothing solid has yet been confirmed. Accordingly, we’re seeing some selling off of GGPI stock from its recent spike last week on a lack of news.

That said, given the amount of intrigue with this potential SPAC merger, let’s dive into a few things investors might want to know about the potential deal.

Could a Polestar/GGPI Deal Be the Next Lucid Motors/CCIV?

  • Sweden’s Polestar recently raised $550 million in external funding last year.
  • The company expects to use this money to fund production of the company’s Polestar 3 electric SUV at the company’s South Carolina plant.
  • Special purpose acquisition company Gores Guggenheim is currently trading below its SPAC initial public offering (IPO) price of $10 per share.
  • The SPAC raised $750 million via its IPO in March, selling 75 million shares.
  • This potential business combination is one that EV investors are anticipating, and it could be a big deal.
  • Accordingly, reports suggest Polestar could go public at a valuation of $25 billion, should a SPAC merger deal be announced.
  • Given the early-stage nature of discussions, GGPI stock remains a highly speculative play in the EV space.

On the date of publication, Chris MacDonald did not have (either directly or indirectly) any positions in the securities mentioned in this article. The opinions expressed in this article are those of the writer, subject to the Publishing Guidelines.

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