PEOPLE WATCH
Polestar to strengthen Board of Directors
Polestar , the pure play electric performance car brand , plans to strengthen its Board of Directors ahead of its planned listing on the Nasdaq stock exchange in New York later this year .
Polestar CEO , Thomas Ingenlath , is expected to be appointed to the Board as executive director . Volvo Cars ’ new CEO ( from 21 March 2022 ), Jim Rowan , along with Karen Francis and David Wei are expected to be appointed to the Board as new directors ahead of Polestar ’ s planned listing . Håkan Samuelsson , Chairperson of the Board ; Daniel Li , CEO of Geely Holding ; Carla De Geyseleer ; David Richter and Karl- Thomas Neumann will continue as Board members of Polestar upon the planned listing . The changes are expected to broaden the Board ’ s competence within the electric vehicle space and international capital markets .
Håkan Samuelsson , Chairperson of Polestar ’ s Board of Directors , explained : “ Before becoming a publicly listed company , I am delighted to announce a very competent , experienced and international Board of Directors , with a majority of independent directors , and in line with the best practices of corporate governance . I would also like to take this opportunity to thank Eric Li and Lars Danielsson for the invaluable contribution that they have made to Polestar and look forward to Eric Li ’ s continued support as a major shareholder .”
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 the first half of 2022 .
The bonded aluminium unibody of the Polestar 5 does away with mixed metal structures and the 3,500-4,000 rivets normally used in traditional manufacturing , making use of adhesive and oven curing instead .
Polestar was established as a new , stand-alone 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 .
It has produced two electric performance cars . The Polestar 1 was built between 2019 and 2021 as a low-volume electric performance hybrid GT and an electriconly range of 124km ( WLTP ). The Polestar 2 electric performance fastback is the company ’ s first fully electric , high-volume car ; it includes three variants .
In the coming three years , Polestar plans to launch one new electric vehicle per
Thomas Ingenlath , CEO , Polestar .
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 . As the company seeks to reduce its climate impact with every new model , Polestar aims to produce a truly climate-neutral car by 2030 .
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 . n
Four new directors for the MAA
With 2022 set to be a pivotal year for the regrowth of the aerospace industry , strong leadership is critical .
“ That is why , at the MAA , we are proud to be supported by over 60 senior aerospace leaders across our board and three working groups . They bring diverse experience , knowledge and insights from organisations operating at every tier of the aerospace supply chains that are central to the Midlands aerospace cluster ,” the Midlands Aerospace Alliance ( MAA ) in the UK told ISMR .
Four MAA directors recently elected , or reelected by members , to support its mission are :
■ Craig Fullwood , Operations Director and Co-owner , CCR Forming ( re-elected ).
■ Rob Holmes , Vice-President Aerospace , Hardide Coatings .
■ Simon Smith , Business Development Executive , Gardner Aerospace .
■ Stephen Molloy , Aerospace , Defence & Industrials Director , G & P Group Holdings ( re-elected ).
■ Rob Holmes is also the new chair of the MAA Business Development Group . The group works to identify and advise on commercial opportunities for supply chain companies .
Above , left to right : Stephen Molloy , Rob Holmes , Simon Smith and Craig Fullwood .
The Midlands Aerospace Alliance was formed in 2003 to support and represent the aerospace industry across the Midlands region of the UK . It works closely with the UK ’ s other regional aerospace alliances and the national body , ADS , as well as with other European and worldwide aerospace clusters . n
ISMR April 2022 | sheetmetalplus . com | 13