Polestar is listed on the NASDAQ as PSNY.

Polestar began trading on New York's NASDAQ market on Friday under the ticker PSNY.

Volvo's spin-off EV brand announced plans to go public in September 2021 through a special purpose acquisition company (SPAC) transaction. The transaction, also known as a reverse merger, would allow a privately held company to go public by being acquired by a SPAC (a company already listed on a stock exchange and usually formed solely for this purpose).

SPAC transactions have become a common way for EV startups to go public more quickly than a traditional initial public offering (IPO). The list of startups that have used this route includes Canoo, Faraday Future, Fisker, Lordstown, and Lucid. Unlike these startups, however, Polestar has the advantages of existing automakers, including access to platforms and production facilities.

In a press release announcing its Nasdaq listing, Polestar announced that it has received over 32,000 customer orders to date for its 2022 electric vehicle, the Polestar 2. Mildly updated for the 2023 model year, the Polestar 2 is a limited plug-in hybrid coupe, the only model currently available from the brand after the Paulstar 1 was discontinued.

Polestar plans to introduce three new models by 2024. The mid-size SUV Paulstar 3 will be launched in 2023 and will be produced at Volvo's South Carolina plant. The Paulstar 4, a coupe-like SUV, will also be launched in 2023. The Paulstar 5, an 884 hp four-door fastback based on the 2020 Paulstar Precept Concept, will follow in 2024.

The Polestar brand was launched in 2017, repurposing the name previously used by Volvo's in-house tuner (before that it was an independent company). The company now aims to compete with Porsche in performance EVs and continue to grow sales. Polestar's goal is to sell 290,000 vehicles worldwide by the end of 2025, a tenfold increase from 2021.