Based in Colorado Gores Guggenheim (NASDAQ:GGPI) is actually just a sham company, but it is still worth the noise because it is a company representing a Swedish manufacturer of electric vehicles (EV) Polestar on Wall Street. With GGPI shares there have been some thrills and spills, so be prepared for a roller coaster ride if you buy stocks.
Recently, the noise got louder after Polestar showed commercials during the Super Cup. The model of the high-performance Polestar 2 EV was presented in the advertisement.
Not only that, EV plans to introduce the premium Polestar 3 SUV this year, and is likely to release the Polestar 4 SUV coupe in 2023.
This is not even the end of the story, as Polestar has more exciting news for drivers and investors. So fasten your seat belt, because a trip with Polestar will be uneven, but never boring.
A closer look at GGPI shares
On December 28, 2021, I dared traders to take risks on GGPI stocks. This was after the stock rose to $ 16.41, but then fell to $ 11 and changed.
I didn’t even know that anything related to the technology sector would suddenly turn out to be unattractive on Wall Street in early 2022. Entire segments of the stock market rolled and straightened, making investing in EVs scary and difficult.
However, GGPI shares were held at $ 10, which is the price at which the shares were traded before Gores Guggenheim announced the merger with Polestar so Gores shares seem to have strong support at $ 10, which is comforting .
On February 18, the stock closed at $ 12.22, and the return seemed to be coming. If you are going to invest in Gores Guggenheim and Polestar, it is a good idea to keep an eye out Nasdaq as well, as the rising tide of the stock market tends to raise all boats.
In the pole position in the world
I promised some new and exciting developments around Polestar. So let’s start with the big automaker launch in South Korea.
You may not have thought of Polestar as an international manufacturer of EV. However, the company’s recent move to South Korea is actually Polestar’s 19th global market.
After the company began accepting orders for Polestar 2 in South Korea on January 18, it received more than 4,000 bookings in one week.
This is an auspicious sign. What’s more, the first 2,000 of those 4,000 bookings were received in just two hours.
This event could be just a stepping stone to a much wider global outreach campaign. Polestar’s ambition seems to be to be present in at least 30 markets by 2023 and to deliver 290,000 cars a year by 2025.
Everything is fine in the UK
Speaking of global operations, Polestar revealed that more than 280 engineers are members of the company’s internal research and development team based in Coventry, England.
The team is expected to grow to 500 employees in the coming months.
Obviously, they are developing an aluminum platform for the future Polestar 5 EV. According to the company, the bonded aluminum is light and solid, “offering excellent performance and environmental benefits.”
Of course, the lightweight platform is expected to provide improved vehicle efficiency, hopefully without compromising on power and performance.
Pete Allen, head of research and development at Polestar in the UK, further explained the specific benefits of deploying this innovative aluminum platform.
“This architecture provides excellent dynamic characteristics and security attributes, with low investment technologies suitable for large volumes of production,” said Allen.
Could the time soon come when Polestar vehicles will become commonplace on the roads of all continents?
It is an ambitious dream, but nowadays anything is possible. Those who hold GGPI stocks for the long term are betting on that dream and investing in powerful yet efficient Polestar cars.
If you dare, get involved in volatility, as Polestar’s international efforts prove that this startup EV rides on the fast lane.
As of the date of publication by David Model did not have (directly or indirectly) any positions in the securities mentioned in this article. The views expressed in this article are those of the writer, taking into account InvestorPlace.com Publication Guide.