Company: PLSAY
Filing Date: 2025-05-09
Form Type: 20-F
Source: 0001884082-25-000012
Chunk: 385

Company: Polestar Automotive Holding UK PLC
Filing Date: 2025-05-09
Form: 20-F
Item: Item 19
Chunk 385
---
                
  Other finance income                                                                                      2,786                        49                   894                  
  Net foreign exchange rate gains on financial activities                                                       —                    37,236                   —                    
  Total                                                                                                         $       23,879            $       69,565      $             8,552  
                                                                                  For the year ended December 31,                                                                  
  Finance expense                                                                                            2024                      2023                   2022                 
  Interest expense on credit facilities and financing obligations                                         187,151                   116,190                   33,331               
  Interest expense on related party trade payables and financing liabilities                              140,838                    84,480                   37,945               
  Net foreign exchange rate losses on financial activities                                                 52,603                         —                   30,920               
  Interest expense related to lease liabilities                                                             7,423                     5,008                   6,201                
  Other finance expenses                                                                                    3,009                        11                   5                    
  Loss on debt modification                                                                                 2,761                     7,553                   —                    
  Total                                                                                                         $      393,785            $      213,242      $           108,402  

For the years ended December 31, 2024, 2023, and 2022, interest expense to related parties was comprised of interest on overdue trade payables balances and interest on related party borrowings. For the years ended December 31, 2024 and 2023, loss on debt modification relates to loss incurred on Polestar's modification of its related party convertible instrument with Volvo Cars. Refer toNote 27 - Related party transactions for further discussion.

Note 12 - Leases

Polestar Group as Lessee

F-40

T able of Contents

As a lessee, Polestar Group primarily leases buildings and manufacturing production equipment. The Group also has short-term and low value leases related to the leasing of temporary spaces and small IT equipment, respectively. The lease term for land and buildings is generally 2 15 50 2 6

The following table depicts the changes in the Group’s right-of-use assets, which are included within Property, plant, and equipment:

                                                            Buildings and land                     Machinery and equipment                         Total                 
 ─────────────────────────────────────────────────────────────────────────────────────────────────────────────────────────────────────────────────────────────────────────
  Acquisition cost                                                                                                                                                       
  Balance as of January 1, 2023                             78,188                                                  47,