• Gores Guggenheim (GGPI) is a special purpose acquisition company (SPAC) that’s still looking to sign its target, EV maker Polestar
• Polestar just announced its agreement with Hertz for 65,000 cars over the next five years, and it also has a deal with Enterprise.
• As a Volvo spinoff, Polestar has unique access to Europe and China as well as a global supply chain for parts and equipment.

Source: Trygve Finkelsen / Shutterstock

There are few places like the markets that can give us an object lesson in excess, or as we also know it, too much of a good thing. But then again, as Americans we love too much and consider it a good thing. Gores Guggenheim (NASDAQ:GGPI) is banking on that.

I mean, have you seen any fast food restaurant ads recently? Most are all about more, bigger, more for less, or more for a limited time.

The high-end version of this is investing. And the hottest meal on the street in late 2020 and most of 2021 was the SPAC. While SPACs have been around since 1993, but were never that popular until recently.

The reason? Well, the crazy amount of money in the system driven by all the central bank money printing, low interest rates and more than a decade of steady, dependable low growth meant massive amount of money sloshing around the system.

Financiers saw an opportunity to organize that money and then go buy things.

One of the great benefits is that SPACs made it possible for new industries to blossom from “lab to fab” at lightning speed relatively speaking. Whole industries in EVs, drones, fintech, crypto, etc. that were muddling along, suddenly kicked into high gear for a primetime audience.

GGPI Deal Hits the Table After Dessert Is Served

The toughest aspect of the EV market these days is the fact that there’s one celebrity billionaire that sucks up the attention of most new investors.

Depending upon where you look, Elon Musk, CEO of Tesla (NASDAQ:TSLA), has more than 63 million Twitter followers. That puts him in the company of major celebrities and celebrity politicians. He’s also the richest person in the world.

That carries a lot of clout. When bad things happen, he shrugs it off and TSLA stock goes up. When good things happen, the stock goes up.

But few other EV carmakers get such treatment since they don’t have the platform Musk has. It’s so big, TSLA doesn’t have a marketing or public relations department.

So, it makes perfect sense that GGPI stock and Polestar’s recent announcement of landing a 65,000 unit deal with Hertz was just a blip that seemed to provoke as much concern as enthusiasm. Yet Polestar also has deals with Enterprise in the US and Europcar in Europe. Or the fact that it has a universal charger and that it has cut a deal for two-years of free charging at Electrify America charging stations. I guess the fact that GGPI stock doesn’t have a CEO with a rocket company mutes any enthusiasm.

Where the Rubber Hits the Road

But what’s really interesting about Polestar, which will be Volvo’s high-end brand in coming years, is that it already has manufacturing facilities and a global supply chain and dealer network. That’s where most EV hopefuls hit the wall since that’s where all the money goes when carmakers have to scale.

Polestar 1 and 2 (the sedans) are made in China by its parent company, Geely (OTC:GELYY). The Polestar 3, its SUV, will be made in the US. But the fact is, Polestar is using Geely — one of China’s largest EV makers — and Volvo manufacturing, to quickly ramp up sales in China, Europe, and the US, and has service and parts support already up to speed.

So, here’s the crazy part. With all that “more for less,” US investors are still digesting the SPAC, NFT, crypto, DeFi feast of the past few years. But if there are investors who haven’t already gorged at the recent bull market groaning board, it may be time to get a nibble of GGPI stock now.

On the date of publication, GS Early 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 InvestorPlace.com Publishing Guidelines.