Could Polestar Become the Next Tesla?
Tesla (NASDAQ: TSLA) is the premier electric vehicle (EV) maker in the U.S. right now, selling more battery EVs than all other manufacturers combined. It has a 72% share of the total market.
Cox Automotive says that not only does it dominate the EV market, but Tesla also sold more luxury vehicles in the U.S. than Audi, BMW, Lexus, and Mercedes-Benz.
But the electric car market is getting more crowded, and Tesla had an 80% share of the market just one year prior. One of the newest entrants into the U.S. electric space is Polestar, a Swedish manufacturer backed by Volvo (OTC: VLVL.Y) that will soon be going public through a reverse merger with special purpose acquisition company (SPAC) Gores Guggenheim (NASDAQ: GGPI).
Source Fool.com
