Company: PLSAY
Filing Date: 2025-05-09
Form Type: 20-F
Source: 0001884082-25-000012
Chunk: 108

Company: Polestar Automotive Holding UK PLC
Filing Date: 2025-05-09
Form: 20-F
Item: Item 4
Chunk 108
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 implemented are the now established manufacturing in the USA and the planned introduction of manufacturing in South Korea. Polestar 3 production in Chengdu China, is complemented with production in South Carolina, USA, which began during summer 2024. Polestar 4 production in Hangzhou Bay, China, will be complemented by production in Busan, South Korea, through Geely’s joint venture Renault Korea Co Ltd ("RK"), which is expected to commence during the second half of 2025.

Bespoke regional market strategy.

Polestar is transitioning its sales and distribution model from a model focused exclusively on a direct-to-customer experience, which initially reduced multiple traditional inefficiencies coupled with a differentiated distribution, to an active selling partner set-up, known as a 'non-genuine agency model', while in time adding wholesale capabilities to eventually implement a dual model approach. This approach enables rapid retail network expansion and customer reach in a capital-efficient manner, it allows Polestar to target customers in an efficient way with small and medium-size enterprises being the focus partners, and it provides the flexibility to adapt to diverse market conditions. Using the Polestar mobile application (the “Polestar App”) or other digital connections, clients can discover Polestar’s products, configure and personalize them, choose a financing option and purchase online, creating a seamless experience. Complementing this digital experience, customers can see, feel and test drive Polestar's vehicles, at one of the Polestar Spaces prior to making an online purchase. Polestar believes this combination of digital and physical retail presence serves to deliver a seamless experience for its customers. Polestar’s customers benefit from a comprehensive service network which leverages the existing Volvo Cars service center network. In Europe, Polestar follows a direct-to-consumer model and, in select markets, an importer model, for sales and distribution. European customers have access to 90 Polestar spaces and approximately 650,000 charging points through Plugsurfing. Polestar is shifting select European markets to an importer model to focus resources on the most profitable markets, and applying a non-genuine agency operating model in key markets. In North America, Polestar is transitioning to a wholesale model, with high control of customer experience through retailer vetting. North American customers have access to over 30 Polestar Spaces, managed by independent authorized retailers, and service points as well as CCS Charging with approximately 8,000 charging points in USA and Canada. In China, prior to April 2025, Polestar operated through its JV with X