The Swedish pension company AMF filed a 13F-HR form on Tuesday disclosing ownership of 4,400,440 shares of the EV maker Polestar by the end of the second quarter with total holdings valued at $38.768 million.
Polestar’s common stock began trading on Nasdaq on June 24, 2022 under the new ticker symbol “PSNY” after the merger with Gores Guggenheim.
Sweden’s third-largest pension provider offers “simple and reliable pension solutions that deliver high returns at a low cost” and closed the first half of 2022 with $71.43 billion in assets managed for approximately 4 million customers. The company is one of the largest owners on Nasdaq OMX Nordic Stockholm and has currently 370 employees.
AMF is a limited liability life insurance company that is owned equally by the Swedish Trade Union Confederation (LO) and the Confederation of Swedish Enterprise.
Earlier this year, the company had also invested invested SEK 955 million on a $1B valuation in the Stockholm-based manufacturer of smart lithium batteries Polarium.
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Polestar will expand to Italy opening the first showroom in the country amid the global expansion to a total of 30 markets by the end of 2023. The Space — as the showrooms are known — will be located in downtown Milan and the second one will inaugurate in Rome in early 2023.
Earlier this month, the EV maker opened its first showroom in Spain located at Paseo de Gracia, 84 in Barcelona and the inauguration counted with the presence of Stephane Le Guevel, the Managing Director of Polestar Iberia.
In late May, Polestar opened its first showroom in Dubai located at Mall of Emirates, an iconic shopping center with a total of 560 luxurious boutiques. During the last weeks, the EV maker has been expanding at a high pace confirming the entrance to Portugal, Spain, Dubai, and upcoming Italy.
Last week, the company announced a collaboration agreement with Arval in Spain for leasing services. Arval, part of the BNP Paribas Group, will become Polestar’s global leasing service provider in Spain after arriving in the country in 1996.
Earlier in the week, Polestar was awarded two prestigious awards in Marie Claire UK’s annual Sustainability Awards. Polestar Roadster model won Best Sustainable Interior and Polestar 0 Project the Best Green Emission Initiative award.
On July 12, the EV maker has been granted a new patent regarding its upcoming hard-top convertible Polestar O₂. The patent includes eight drawings of the new design claiming the ornamental design of the steering wheel projected to be used on the upcoming roadster Polestar O₂.