Company: PLSAY
Filing Date: 2025-05-09
Form Type: 20-F
Source: 0001884082-25-000012
Chunk: 150

Company: Polestar Automotive Holding UK PLC
Filing Date: 2025-05-09
Form: 20-F
Item: Item 5
Chunk 150
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3           2022                 $         %                 $         %  
 ────────────────────────────────────────────────────────────────────────────────────────────────────────────────────────────────────────────────────────────────────────────────
                                                         For the year ended December 31,                                    2024 vs 2023                2023 vs 2022            
  Revenues                                                                                                                                                                      
  Sales of vehicles                                                            1,975,864      2,313,124      2,386,685         (337,260)      (15)          (73,561)       (3)  
  Sales of software and performance engineered kits                               15,344         18,994         21,308           (3,650)      (19)           (2,314)      (11)  
  Sales of carbon credits                                                         10,918          1,452         10,984             9,466       652           (9,532)      (87)  
  Vehicle leasing revenue                                                         17,175         17,421         16,719             (246)       (1)               702         4  
  Other revenue                                                                   14,960         17,094          5,122           (2,134)      (12)            11,972       234  
  Total                                                                        2,034,261      2,368,085      2,440,818         (333,824)      (14)          (72,733)       (3)  

Sales of vehicles for the year ended December 31, 2024 were $1,975.9 million, a decrease of $337.3 million, or 15% compared to $2,313.1 million for the year ended December 31, 2023. The decrease was primarily driven by:

• A decrease in volumes resulting in a decrease of $371.5 million, primarily due to lower global vehicle sales of PS2 and delays in sales ramp up of new car lines; and

• An increase in average selling prices, net of discounts, resulting in an increase of $34.3 million, primarily due to the change in sales mix as Polestar transitioned from selling only the PS2 for almost all of 2023 to selling the PS2, PS3 and PS4 by the end of 2024.

Sales of vehicles for the year ended December 31, 2023 were $2,313.1 million, a