https://techcrunch.com/2022/07/06/can-polestar-succeed-where-other-ev-maker-spacs-have-failed/

Polestar, the EV subbrand from Volvo and Geely that launched last week on the Nasdaq at a $20 billion valuation, didn’t earn its $PSNY ticker by taking the traditional route toward an IPO.

With the ringing of the bell, Polestar became the latest EV maker to hurry to the stock exchange by merging with a special purpose acquisition company, or SPAC, before becoming profitable.