Gores Guggenheim Inc (NASDAQ:GGPI) shares are trading higher Monday after Polestar announced an agreement with Hertz Global Holdings Inc (NASDAQ:HTZ). Polestar is expected to go public via SPAC merger with Gores Guggenheim in the second quarter.
The newly announced global partnership will allow Hertz to purchase up to 65,000 Polestar electric vehicles over a five-year period. The company will initially order the Polestar 2 model.
For Hertz, the partnership is part of the company's ongoing commitment to lead in electrification, shared mobility and a digital-first customer experience.
GGPI 52-Week Range: $9.70 - $16.41
The stock was up 4.44% at $11.97 at time of publication.
Photo: courtesy of Hertz.