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Illustration: Eniola Odetunde/Axios

Polestar, a Swedish maker of electric and hybrid cars that was spun out of Volvo in 2017, agreed to go public at an implied $20 billion valuation via a SPAC formed by Gores Group and Guggenheim Partners.

Why it matters: Polestar has delivered thousands of vehicles, unlike so many other EV SPAC targets (including some with higher valuations). It currently offers a hybrid high-performance car and an all-electric liftback, with an electric SUV coming next.

  • Investors include Volvo (owned by China's Geely), affiliates of Geely chair Eric Li, GLY Capital Management, Chongqing Chengxing Equity, I Cube Capital, Zibo city government and Leonardo DiCaprio.

The bottom line: "Polestar aims to create a life cycle assessment framework for the electric car manufacturing industry, one in which the entire manufacturing, sales and end-of-life process is so transparent and traceable that the company can create carbon-neutral vehicles." — Rebecca Bellan, TechCrunch

Go deeper

Columbus bus system gets electric

Two electric buses outside of Columbus City Hall. The COTA bus on the right will begin carrying passengers next week. Photo: Tyler Buchanan/Axios

The first two electric buses in the Central Ohio Transit Authority (COTA) fleet will hit the streets this coming Monday.

Why it matters: The electric bus rollout is part of a long-term goal of COTA and the city of Columbus to cut back on carbon emissions by transitioning to greener energy sources.

  • The new electric buses can hold up to a six-hour charge and cost just shy of $1 million apiece.
  • COTA estimates each bus will save as much as $500,000 in maintenance and fuel costs over a 12-year lifespan.
Tina Reed, author of Vitals
4 hours ago - Health

FDA panel endorses shot of J&J booster for adults

Photo: Wolfgang Kumm/picture alliance via Getty Images)

Members of the Food and Drug Administration's vaccine expert panel on Friday unanimously endorsed a booster shot for adult recipients of Johnson & Johnson's COVID-19 vaccine at least two months after the initial dose.

Why it matters: The advisory committee raised concerns about a dearth of data to support their decision but ultimately decided to support an additional shot for those over 18.

Capitol Police officer indicted for obstructing Jan. 6 investigation

Trump supporters clash with police and security forces as people try to storm the Capitol on Jan. 6. Photo: Brent Stirton/Getty Images

A U.S. Capitol Police officer has been indicted on obstruction of justice charges for allegedly helping hide evidence of a participant's involvement in the Jan. 6 riot.

Driving the news: Officer Michael A. Riley, 50, is accused of telling the unidentified participant, referred to as "Person 1," in the Jan. 6 riot to delete posts from Facebook, which showed them in the Capitol during the attack.