• Car Design Awards recognises Polestar with prestigious Best Brand Design Language for 2022

•Polestar 2 receives three awards from Auto Trader in UK, including New Car of the Year 2022

•Record order intake sees over 32,000 orders and 290% increase year to date versus 2021

Polestar has won the 2022 Best Brand Design Language award at the prestigious international Car Design Awards. Polestar's Head of Design, Maximilian Missoni, received the Brand Design Language trophy at a ceremony held in Milan at the ADI Design Museum on 10 June.

The award is presented for stand-out consistency and integration of a brand's formal design language across its complete product range. The jury of experts, all journalists from leading international automotive publications, was particularly impressed by how Polestar combines design and sustainability.

The jury states: 'At Polestar, everything has a practical meaning, beyond looking for beauty. In addition to the clean, elegant and futuristic style, its projects also reveal concern for the planet and sustainability. The design team has found a distinguished and engaging personality within the premium electrified environment, thanks to a consistent and attractive design language.'

On the same day, the Polestar 2 gained three new awards from Auto Trader UK, including New Car of the Year, Most Loved Car, and Best premium Electric car of 2022.

Determined by 156,500 actual car owners, in one of the industry's largest consumer studies, the Auto Trader awards are based on analysis of customer data to determine true consumer champions. Owners of the Polestar 2 premium electric performance fastback deemed it the winner in each of its three nominated categories, due to its style, innovative technology and high-quality ownership experience.

Erin Baker, Auto Trader's Editorial Director, says: 'Polestar 2 is a stylish, all-electric sporting crossover that takes zero-emissions motoring seriously while preserving a premium ownership experience, with high-quality tech alongside a vegan interior. It's no surprise that it has taken the UK by storm since its initial launch in 2020.'

These latest awards follow a year lined with recognition through various prestigious international awards for Polestar, in categories including design, sustainability and innovation. Launched in 2020, Polestar 2 has now racked up over 100 international industry awards, and there are now over 55,000 cars on the road, globally.

'Continuous recognition from press and consumers is proof that our brand values resonate strongly in various ways. Polestar 2 continues to impress, and our future products will also be high achievers, including Polestar 3, our first SUV, which we will premiere in October 2022,' comments Thomas Ingenlath, CEO of Polestar.

Polestar has taken over 32,000 customer orders globally for Polestar 2 since the start of 2022, representing an increase of 290% versus the same period in 2021.

Polestar intends to list on the Nasdaq in a proposed business combination with Gores Guggenheim, Inc. (Nasdaq: GGPI, GGPIW, and GGPIU), which is expected to close in June 2022.

About the Car Design Award

The Car Design Award was established in 1984 by Fulvio Cinti, founder and editor-in-chief of Auto&Design for more than thirty years. The award is open to projects that have made a significant contribution to the development of car design. Winners of the Car Design Award have always been selected by a jury of experts, representatives of some of the most prestigious world automotive magazines, so as to guarantee an unbiased judgment on the world car design scene. For the regulations, history of the Car Design Award, information about the award, the jury and photos: www.cardesignaward.org/en/

About Polestar

Polestar was established as a new, standalone Swedish premium electric vehicle manufacturer in 2017. Founded by Volvo Car AB (publ) (together with its subsidiaries, 'Volvo Cars') and Zhejiang Geely Holding Group Co., Ltd ('Geely'), 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 that its cars will be available in an aggregate of 30 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.

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 fibre body, 609 hp, 1,000 Nm and an electric-only range of 124 km (WLTP) – 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 300 kW / 408 hp and 660 Nm.

From 2022, Polestar plans to launch one new electric vehicle per year, starting with Polestar 3 – 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.

In early March 2022, Polestar revealed its second concept car, the Polestar O₂ electric performance roadster. Polestar O₂ builds on the design, technology and sustainability ambitions laid out by Precept and showcases the brand's vision for future sports cars. The hard-top convertible presents an evolution of the unique design language first shown by Precept and emphasises a dynamic driving experience. The concept further develops the focus on sustainability and technology, aiming towards greater circularity.

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.