Company: PLSAY
Filing Date: 2025-05-09
Form Type: 20-F
Source: 0001884082-25-000012
Chunk: 413

Company: Polestar Automotive Holding UK PLC
Filing Date: 2025-05-09
Form: 20-F
Item: Item 19
Chunk 413
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,737 5.2 25,565

On March 1, 2024, Polestar extended the production lifecycle of the PS3 from six years seven years six years seven years 2,478 124,878 131,737

Sale of goods, services and other

F-65

T able of Contents

Related party revenue transactions relate to product development and sales and distribution agreements discussed above. These transactions are comprised of sales of products and related goods and services, sales of software technology and performance engineered kits, sales of carbon credits and sales of prototype engines. The total revenue recognized from each related party is shown in the table below:

                                 For the year ended December 31,                          
                                                            2024      2023        2022    
 ──────────────────────────────────────────────────────────────────────────────────────────
  Ziklo Bank AB 1                                        107,553      46,319      68,391  
  Volvo Cars                                             101,299      86,460      64,558  
  Polestar Times Technology                               67,451      —           —       
  Other related parties                                       10      5,895       —       
  Total                                                        $      $           $       

1 - In March 2024, Volvofinans Bank AB changed its name to Ziklo Bank AB.

For the year ended December 31, 2024, revenue from related parties amounted to $ 276,313 13.58 138,674 5.86 132,949 5.45

Purchases of goods, services and other

Purchases from related parties include agreements related to product development, procurement, manufacturing, IT, and other support (specifically, inbound and outbound logistics) agreements discussed above. These agreements include work in progress and finished goods, including Polestar 2 vehicles purchased from Volvo Cars' factory in Taizhou, China and Polestar 4 vehicles purchased from Geely's Hangzhou Bay factory in Ningbo, China. Purchases of PS2 vehicles were from Geely until the change in plant ownership in November 2021; purchases and their related payables were from Volvo Cars subsequent to this event. Inventory cost of the Group is comprised of all costs of purchase, production charges and other expenditures incurred in bringing the inventory to its present location and condition.

Additionally, purchases from related parties include administrative costs associated with service agreements with Volvo Cars that relate to corporate or back-office functions. IT service and software related agreements