Company: PLSAY
Filing Date: 2025-05-09
Form Type: 20-F
Source: 0001884082-25-000012
Chunk: 103

Company: Polestar Automotive Holding UK PLC
Filing Date: 2025-05-09
Form: 20-F
Item: Item 4
Chunk 103
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 an ongoing project to build a retail location where Polestar cars are already being sold. Polestar believes this combination of digital and physical retail presence delivers a seamless experience for its customers. Polestar’s customer experience is further enhanced by its comprehensive service network that leverages the existing Volvo Cars service center network. As of December 31, 2024, there were 193 Polestar Spaces and 175 Sales Points in 27 markets where Polestar operates. In addition, Polestar leverages the Volvo Cars service center network to provide access to 1,170 customer service points worldwide (as of December 31, 2024) in support of its international operations.

Polestar’s research and development expertise is a core competence and Polestar believes it represents a significant competitive advantage for Polestar. With personnel located in Coventry, United Kingdom and Gothenburg, Sweden, the European research and development team focuses on areas such as bonded aluminum architectures, high-performance electric motor and bi-directional compatible battery packs, in-car software development and advanced engineering and research. The Polestar research and development team also benefits, through a variety of agreements, from having access to the substantial engineering and design experience of teams at Volvo Cars and Geely. The strong expertise and ambition to develop and produce sustainable technology solutions and materials are also a key asset of Polestar’s research and development function. All in all, Polestar’s ability to create cars with a strong Polestar product design is also widely recognized as a key differentiator.

Polestar has drawn extensively on the industrial heritage, knowledge and market infrastructure of Volvo Cars. This combination of deep automotive expertise, paired with cutting-edge technologies and an agile, entrepreneurial culture, underpins Polestar’s differentiation, potential for growth and success.

Recent Developments

On January 9, 2025, Polestar reported its global retail volumes for the fourth quarter and full year 2024; retail sales totaled 12,256 cars in Q4 2024, up 5.3% versus Q4 2023, taking total retail sales for the full year to 44,851 in 2024, down 15% versus 2023.

On January 16, 2025, Polestar published select results for Q3 2024.

On January 16, 2025, Polestar, under its new senior management, published its updated strategy and medium-term targets, indicating an acceleration of its shift to an active selling model, with new retail partners and more retail spaces, and with