Leo Vs Elon? Leonardo DiCaprio Investor In Car Company Valued At $20 Billion As A SPAC Takes It Public.

If we never see Leonardo DiCaprio in another movie, there might be a good reason why. 

If he’s never again spotted on an exotic beach, frolicking around with a Victoria Secret model as a $200 million yacht waits patiently in port, ready to whisk him ff to another locale to resume his fairytale, there might be a good explanation. 

He’s too busy counting money. 

DiCaprio is an investor along with Volvo of Swden in an electric vehicle company called Polestar. On Monday, the company was valued at $20 billion in a SPAC deal that will be taking the company public. 

The announcement Monday said Polestar will merger with a SPAC that was formed by the Gores Group global investment firm and Guggenheim Capital called Gores Guggenheimer. 

The car company will be listed on Nasdaq under the ticket symbol PSNY. 

Currently the EV company has two cars, the Polestar 1 and Polestar 2, and they are in production and driving around roads in Asia, Europe and North America. 

The SPAC deal will allow Polestar to get to market in the U.S. much faster now with billions of dollars in working capital at their disposal.  In their crosshairs no doubt, is Tesla. Leo vs Elon. Sounds fun. 

The company plans on creating carbon-neutral vehicles, and that includes SUV’s, with the Polestar 3 SUV set to be designed in the United States starting next year.  The IPO will help fund the manufacturing facilities needed to ramp up production quickly. 

Join the conversation!

We have no tolerance for comments containing violence, racism, profanity, vulgarity, doxing, or discourteous behavior. If a comment is spam, instead of replying to it please hover over that comment, click the ∨ icon, and mark it as spam. Thank you for partnering with us to maintain fruitful conversation.