Polestar 5 previewed in next episode of Polestar Precept documentary

2021.11.23

Polestar

https://www.youtube.com/watch?v=GmVsIdWZknA

In the latest episode of its YouTube documentary series, “Precept: from Concept to Car”, Polestar has previewed more of the final design direction for the forthcoming Polestar 5. The web series documents the transformation of the Polestar Precept concept car into the Polestar 5 – an electric performance 4-door GT set to be launched in 2024.

“With the Precept documentary series we are intentionally doing something car companies usually don’t – going behind the scenes transparently as we turn this stunning concept car into production reality. It makes me very proud to see how much of the concept car’s design is making it into the Polestar 5 – a great achievement by our designers and engineers alike,” comments Thomas Ingenlath, Polestar CEO.

This third instalment of the series shows the closest look at the car on its way to production to date, thanks to a focus on the exterior design process. As such it reveals key production features which distinguish Polestar 5 from the show car that debuted in early 2020. A behind-the-scenes look elaborates on the challenges to establish a balance between sensational design and engineering requirements.

Precept was developed to preview the future of Polestar, embodying the company’s key competencies of design, sustainability, technology and performance. Now seen with production readiness in mind, the Polestar 5 embodies the company’s increasingly independent and muscular design language, cues of which will already be seen on Polestar 3 that is expected to be launched in 2022.

The development of the sustainability, technology and performance credentials of Polestar 5 will be discussed in future episodes of the series. The confirmation of the Polestar 5 production nomenclature for Precept comes on the eve of the concept car’s North American debut, which will coincide with a Polestar presentation in New York City in the first week of December at investor, analyst and press events. Precept will subsequently be undertaking a public tour in the US, visiting Polestar Spaces across the country.

This represents Polestar taking yet another step towards its future. In September, the company announced its intention to list on the Nasdaq stock exchange in a business combination with Gores Guggenheim, Inc. (Nasdaq: GGPI, GGPIW and GGPIU).

Ends.

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 14 global markets across Europe, North America and China. In 2021, Polestar is expanding into eight additional new markets in Europe, the middle East and Asia Pacific. Polestar cars are currently manufactured in two facilities in China, with additional future manufacturing planned in the U.S.

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. More information on this definitive agreement can be found here.

Polestar produces two electric performance cars. The Polestar 1 is a low-volume electric performance hybrid GT with a carbon fibre body, 609 hp, 1,000 Nm and an electric-only range of 124 km (WLTP) – the longest of any hybrid car in the world. With production coming to an end late in 2021, Polestar 1 has established itself as a truly exclusive driver’s car.

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 future, the Polestar 3 electric performance SUV is expected to join the portfolio, as well as the Precept – a design study vehicle released in 2020 that is under development for future production. Precept showcases the brand’s future vision in terms of sustainability, digital technology and design. In April 2021, Polestar announced the important goal of creating 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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In connection with the proposed Business Combination, (i) ListCo has filed with the SEC a registration statement on Form F-4 containing a preliminary proxy statement of Gores Guggenheim and a preliminary prospectus (the “Registration/Proxy Statement”), and (ii) Gores Guggenheim will file a definitive proxy statement relating to the proposed Business Combination (the “Definitive Proxy Statement”) and will mail the Definitive Proxy Statement and other relevant materials to its stockholders after the Registration/Proxy Statement is declared effective. The Registration/Proxy Statement contains and the Definitive Proxy Statement will contain important information about the proposed Business Combination and the other matters to be voted upon at a meeting of Gores Guggenheim stockholders to be held to approve the proposed Business Combination. This Press Release does not contain all the information that should be considered concerning the proposed Business Combination and is not intended to form the basis of any investment decision or any other decision in respect of the Business Combination. Before making any voting or other investment decisions, securityholders of Gores Guggenheim and other interested persons are advised to read, the Registration/Proxy Statement and the amendments thereto and the Definitive Proxy Statement and other documents filed in connection with the proposed Business Combination, as these materials will contain important information about Gores Guggenheim, the Company, ListCo and the Business Combination. When available, the Definitive Proxy Statement and other relevant materials for the proposed Business Combination will be mailed to stockholders of Gores Guggenheim as of a record date to be established for voting on the proposed Business Combination. Stockholders will also be able to obtain copies of the Registration/Proxy Statement, the Definitive Proxy Statement and other documents filed with the SEC, without charge, once available, at the SEC’s website at www.sec.gov, or by directing a request to: Gores Guggenheim, Inc., 6260 Lookout Rd., Boulder, CO 80301, attention: Jennifer Kwon Chou.

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