Company: PLSAY
Filing Date: 2025-05-09
Form Type: 20-F
Source: 0001884082-25-000012
Chunk: 384

Company: Polestar Automotive Holding UK PLC
Filing Date: 2025-05-09
Form: 20-F
Item: Item 19
Chunk 384
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 of vehicles for $ 69,478 31,298 38,180 416 15,981

Brand licensing

On November 15, 2023, Polestar licensed the use of the Polestar branding to Polestar Times Technology for use in its commercial operations in China in exchange for an annual royalty equal to 2% of Polestar Times Technology's net revenue each year. For the years ended December 31, 2024 and 2023, no royalty revenue was recognized from Polestar Times Technology.

Sale of operating assets

On November 28, 2023, Polestar agreed to assign certain lease agreements and sell other related assets to Polestar Times Technology for their fair value of $ 8,159

The following table summarizes the activity related to Polestar's investment in Polestar Times Technology:

  Balance as of January 1, 2023                                        —  
 ──────────────────────────────────────────────────────────────────────────
  Investment in Polestar Times Technology                         29,400  
  Elimination of effects of downstream sales                      13,904  
  Recognized share of losses in Polestar Times Technology      ( 43,304)  
  Balance as of December 31, 2023                                      $  
  Investment in Polestar Times Technology                         14,508  
  Elimination of effects of downstream sales                    ( 9,538)  
  Recognized share of losses in Polestar Times Technology       ( 4,970)  
  Balance as of December 31, 2024                                      $  

The following table summarizes the activity related to Polestar's unrecognized losses in Polestar Times Technology:

  Unrecognized balance as of January 1, 2023                     —                                       
 ─────────────────────────────────────────────────────────────────────────────────────────────────────────
  Unrecognized share of losses in Polestar Times Technology      ( 1,407)                                
  Unrecognized balance as of December 31, 2023                   $              ( 1,407)                 
  Unrecognized share of losses in Polestar Times Technology      ( 64,581)                               
  Unrecognized balance as of December 31, 2024                   $                            ( 65,988)  

The following table provides summarized financial information from Polestar Times Technology's financial statements and a reconciliation to the carrying amount of Polestar's investment for year ended in December 31, 2024 and 2023:

F-39

T able of Contents

                                                                              For the year ended December