Some history for context:

In 1999 Swedish Volvo spins out and sells Volvo Cars to Ford (Volvo Sweden continues making trucks and heavy equipment) for 6.45 B USD.

In 2010 Ford sells Volvo Cars to Geely for 1.8 B USD.

iN 2017 Geely spins out Polestar from Volvo Cars. In 2021 Geely IPOes Polestar at NYSE for 20 B USD.

Leonardo DiCaprio-Backed Electric Automaker Polestar Valued At $20 Billion In SPAC Deal

https://deadline.com/2021/09/leonardo-dicaprio-backed-electr...

Polestar, the electric vehicle company backed by Volvo of Sweden and Leonardo DiCaprio was valued at $20 billion in a SPAC deal that will take it public.