Polestar Announces 270-Mile EPA Range, Power Upgrades, and Efficiency Aids for Polestar 2 Electric Fastback Variants

Polestar, the pure play, premium electric car company, today announced the Polestar 2 Long range Single motor received one of the best ratings in its class by the U.S. Environmental Protection Agency (EPA) – an estimate range of 270 miles. This announcement comes alongside ongoing Over-The-Air (OTA) updates that are delivering new features to Polestar 2 owners and pre-empts a future option to purchase a performance software upgrade that adds an extra 67-hp for the dual-motor variant.

“We are pleased to announce the longest range of any Polestar yet,” said Gregor Hembrough, Head of Polestar in North America. “Alongside continual range improvements, we continue to offer new conveniences for our customers free of charge via OTA software downloads.”

Polestar continues to improve the Polestar 2 while its owners are living with it, thanks to OTA updates. The latest update is rolling out now, and includes a suite of new and improved features, including the ability to schedule charging sessions, allowing customers to take advantage of off-peak electricity pricing. The update also adds refinements to the Advanced Driving Assistance Systems (ADAS) in the Polestar 2.

Other recent OTA additions include battery preconditioning when a DC charger is set as a destination so the driver can be back on the road after the quickest possible charge, SiriusXM satellite radio; and a Range Assistant app that is geared to improve driver efficiency and increase range confidence. There is also an Eco Climate function in the app that allows the driver to reduce demand on the battery, thereby extending range.

These updates are applicable to the full Polestar 2 model range, regardless of model year or variant.

Coming soon specifically for the Polestar 2 Long range Dual motor is a performance software upgrade designed to raises output to 476 hp and 502 lb. ft., an increase of an average 67 hp and 15 lb. ft. over the standard dual-motor car. The upgrade will be available to purchase and unlocks the additional performance via an OTA update. North American pricing and availability will also be announced in the coming months.

Earlier this year, Polestar announced that the Long range Dual motor variant gained a range increase to an EPA-estimated 249 miles. Through OTA updates, 2021 Polestar 2 owners also received the additional range capability, a proof point in the company’s promise to continually enhance the ownership experience.

The single- and dual-motor Polestar 2 variants are available to order online at Polestar.com, and test drives can be scheduled at Polestar.com/test-drive. For those who prefer a physical car-buying experience, Polestar is rapidly expanding its network of retail “Spaces” throughout the United States, with 38 retail locations planned to be open by the end of 2022.

The most recent Spaces to open include Westport, CT, Washington, D.C., and Portland, OR. Each of these Spaces feature dedicated Polestar Specialists who can answer questions, schedule test drives, and assist with the digital ordering process.

Polestar also recently announced its intention to list on Nasdaq in connection with its proposed business combination with Gores Guggenheim, Inc. (Nasdaq: GGPI, GGPIW and GGPIU), which is expected to close in the first half of 2022.

For images and other media information, visit polestar.com/press.

Contact Details

General media queries

napress@polestar.com

John Paolo Canton, Public Relations and Communications, North America

jp.canton@polestar.com

Donny Nordlicht, Public Relations, North America

donny.nordlicht@polestar.com

About Polestar

Polestar was established as a new, standalone Swedish premium electric vehicle manufacturer in 2017. Founded by Volvo Cars and Geely Holding, Polestar enjoys specific technological and engineering synergies with Volvo Cars and benefits from significant economies of scale as a result.

Polestar is headquartered in Gothenburg, Sweden, and its vehicles are currently available and on the road in markets across Europe, North America, China and Asia Pacific. By 2023, the company plans to be present in 30 global markets. Polestar cars are currently manufactured in two facilities in China, with additional future manufacturing planned in the USA.

In September 2021, Polestar announced its intention to list as a public company on the Nasdaq in a business combination agreement with Gores Guggenheim, Inc. Full information on this definitive agreement can be found here.

In the US, the local Polestar office is located in the New York metro area, in Mahwah, New Jersey. Polestar Spaces have been opened in Los Angeles, the San Francisco Bay Area, and Orange County, Calif.; New York City; Denver, Colorado; Boston; Central and Southern New Jersey; Dallas; Austin; Detroit; Minneapolis; Phoenix; Seattle; Atlanta; Charlotte, North Carolina; Connecticut, South Florida, and Washington D.C., with more to follow in Central California, the Pacific Northwest, and Hawaii.

Polestar has produced two electric performance cars. The Polestar 1 was built between 2019 and 2021 as a low-volume electric performance hybrid GT with a carbon fiber body, 619 hp, 738 lb-ft of torque, and an electric-only range of 52 miles (EPA) – the longest of any hybrid car in the world.

The Polestar 2 electric performance fastback is the company’s first fully electric, high volume car. The Polestar 2 model range includes three variants with a combination of long- and standard range batteries as large as 78 kWh, and dual- and single-motor powertrains with as much as 408 hp and 487 lb-ft of torque.

In the coming three years, Polestar plans to launch one new electric vehicle per year, starting with Polestar 3 in 2022 – the company’s first electric performance SUV. Polestar 4 is expected to follow in 2023, a smaller electric performance SUV coupe.

In 2024, the Polestar 5 electric performance 4-door GT is planned to be launched as the production evolution of Polestar Precept – the manifesto concept car that Polestar released in 2020 that showcases the brand’s future vision in terms of design, technology, and sustainability. As the company seeks to reduce its climate impact with every new model, Polestar aims to produce a truly climate-neutral car by 2030.

About Gores Guggenheim, Inc.

Gores Guggenheim, Inc. (Nasdaq: GGPI, GGPIW, and GGPIU) is a special purpose acquisition company sponsored by an affiliate of The Gores Group, LLC, founded by Alec Gores, and by an affiliate of Guggenheim Capital, LLC. Gores Guggenheim completed its initial public offering in April 2021, raising approximately USD 800 million in cash proceeds for the purpose of effecting a merger, capital stock exchange, asset acquisition, stock purchase, reorganization or similar business combination with one or more businesses. Gores Guggenheim's strategy is to identify and complete business combinations with market leading companies with strong equity stories that will benefit from the growth capital of the public equity markets and be enhanced by the experience and expertise of Gores' and Guggenheim’s long history and track record of investing in and operating businesses.

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