Polestar 5 to be faster, lighter and more dynamic thanks to brand-new UK-developed bonded aluminium platform

2022.02.15

Car

  • Bonded aluminium platform developed in-house by over 280 engineers from Polestar’s UK R&D team based in Coventry, England; demonstrates Polestar’s industry leading in-house engineering and R&D capabilities
  • Bespoke aluminium platform unlocks exciting possibilities for Polestar; set to provide forthcoming Polestar 5 with class-leading dynamics, rigidity and safety features
  • Innovative manufacturing process accelerates Polestar 5 development schedule by allowing both body and platform to be built in unison, significantly reducing traditional lead times
  • Expanding UK R&D team expected to grow to 500 employees in coming months

GOTHEBURG, SWEDEN – 15 February 2022. Polestar, the Swedish premium electric performance car maker, has confirmed that the forthcoming Polestar 5 electric performance 4-door GT will feature a brand-new, bespoke, bonded aluminium platform.

Bonded aluminium is light-weight and rigid, offering superlative performance and environmental advantages. While this technology has previously proven labour-intensive and difficult to use in mass production vehicles without sacrificing quality, Polestar’s 280-strong team of former Formula 1, low volume and bespoke sports cars engineers working in the heart of the UK’s Motorsport Valley in the Midlands have resolved this challenge by developing an entirely new, faster manufacturing process that develops both body and platform in unison.

As a result of the new materials and techniques involved, the body-in-white (completed platform and body) is expected to weigh less than that of cars in smaller segments, contributing to improved vehicle efficiency, real-world EV range and dynamic responsiveness, all while delivering leading safety levels. The new bonded aluminium platform will also help drive faster product introduction, high quality and platform rigidity.

“Our UK R&D team is one of Polestar’s greatest assets,” says Thomas Ingenlath, Polestar CEO. “Their mix of engineering and technological expertise enables us to develop advanced, light-weight sports car technology with a creative mindset and a spirit that embraces innovative engineering. This will set Polestar apart in the years to come.”

By further developing this technology for Polestar’s first in-house platform, the 4-door Polestar 5 is being designed with torsional rigidity superior to that of a traditional two-seat sports- or supercar. The decision to develop a bespoke platform has also enabled the brand to deliver a production model that remains true to the Precept concept car that inspired it.

“We knew we wanted this car to be light-weight, we knew we wanted high quality and we knew we wanted it quickly,” says Pete Allen, Head of Polestar UK R&D. “This architecture delivers outstanding dynamic and safety attributes, with low investment technology applicable to high production volumes.”

Development of Polestar 5 continues at pace, with global efforts led by a growing UK R&D unit, which is expected to grow to approximately 500 engineers in the coming months and will continue to play a critical role in enhancing Polestar’s in-house R&D capabilities. More details on Polestar 5 will continue to surface as the YouTube documentary series “Precept: From Concept to Car” details how the Polestar Precept evolves into the production car.

This announcement continues to strengthen Polestar’s position ahead of its proposed business combination with Gores Guggenheim, Inc. (Nasdaq: GGPI, GGPIW and GGPIU), which is expected to close in the first half of 2022.

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About Polestar

Polestar was established as a new, standalone Swedish premium electric vehicle manufacturer in 2017. Founded by Volvo Cars and Geely Holding, Polestar enjoys specific technological and engineering synergies with Volvo Cars and benefits from significant economies of scale as a result.

Polestar is headquartered in Gothenburg, Sweden, and its vehicles are currently available and on the road in markets across Europe, North America, China and Asia Pacific. By 2023, the company plans to be present in at least 30 global markets. Polestar cars are currently manufactured in two facilities in China, with additional future manufacturing planned in the USA.

In September 2021, Polestar announced its intention to list as a public company on the Nasdaq in a business combination agreement with Gores Guggenheim, Inc. Full information on this definitive agreement can be found here.

Polestar has produced two electric performance cars. The Polestar 1 was built between 2019 and 2021 as a low-volume electric performance hybrid GT with a carbon fiber body, 609 hp, 1,000 Nm and an electric-only range of 124 km (WLTP) – the longest of any hybrid car in the world.

The Polestar 2 electric performance fastback is the company’s first fully electric, high volume car. The Polestar 2 model range includes three variants with a combination of long- and standard range batteries as large as 78 kWh, and dual- and single-motor powertrains with as much as 300 kW / 408 hp and 660 Nm.

In the coming three years, Polestar plans to launch one new electric vehicle per year, starting with Polestar 3 in 2022 – the company’s first electric performance SUV. Polestar 4 is expected to follow in 2023, a smaller electric performance SUV coupe.

In 2024, the Polestar 5 electric performance 4-door GT is planned to be launched as the production evolution of Polestar Precept – the manifesto concept car that Polestar released in 2020 that showcases the brand’s future vision in terms of design, technology, and sustainability. As the company seeks to reduce its climate impact with every new model, Polestar aims to produce a truly climate-neutral car by 2030.

About Gores Guggenheim, Inc.

Gores Guggenheim, Inc. (Nasdaq: GGPI, GGPIW, and GGPIU) is a special purpose acquisition company sponsored by an affiliate of The Gores Group, LLC, founded by Alec Gores, and by an affiliate of Guggenheim Capital, LLC. Gores Guggenheim completed its initial public offering in April 2021, raising approximately USD 800 million in cash proceeds for the purpose of effecting a merger, capital stock exchange, asset acquisition, stock purchase, reorganization or similar business combination with one or more businesses. Gores Guggenheim's strategy is to identify and complete business combinations with market leading companies with strong equity stories that will benefit from the growth capital of the public equity markets and be enhanced by the experience and expertise of Gores' and Guggenheim’s long history and track record of investing in and operating businesses.

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Certain statements in this press release (“Press Release”) may be considered “forward-looking statements” as defined in the Private Securities Litigation Reform Act of 1995. Forward-looking statements generally relate to future events or the future financial or operating performance of Gores Guggenheim, Inc. (“Gores Guggenheim”), Polestar Performance AB and/or its affiliates (the “Company”) and Polestar Automotive Holding UK Limited (“ListCo”). For example, projections of future Adjusted EBITDA or revenue and other metrics are forward-looking statements. In some cases, you can identify forward-looking statements by terminology such as “may”, “should”, “expect”, “intend”, “will”, “estimate”, “anticipate”, “believe”, “predict”, “potential”, “forecast”, “plan”, “seek”, “future”, “propose” or “continue”, or the negatives of these terms or variations of them or similar terminology. Such forward-looking statements are subject to risks, uncertainties, and other factors which could cause actual results to differ materially from those expressed or implied by such forward looking statements.

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