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The logo of Polestar, the electric-car maker controlled by Volvo Cars and its parent, Zhejiang Geely Holding.
Polestar, the electric-car maker controlled by Volvo Cars and its owner Zhejiang Geely Holding Group, is in talks to go public through a merger with Gores Guggenheim, a blank check-firm, according to people with knowledge of the matter.
A transaction may value the combined company at around $25 billion, the people said. No deal has been reached and it’s possible terms could change or that talks fall apart.
Jennifer Kwon Chou, a Gores Guggenheim representative, and a Polestar spokesperson declined to comment. A spokesman for Volvo in the U.S. didn’t immediately respond to a request for comment. A Geely spokesman didn’t respond to a request for comment outside of Asian business hours.
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