Company: PLSAY
Filing Date: 2025-05-09
Form Type: 20-F
Source: 0001884082-25-000012
Chunk: 137

Company: Polestar Automotive Holding UK PLC
Filing Date: 2025-05-09
Form: 20-F
Item: Item 4
Chunk 137
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 of Volvo Cars and Geely with access to a substantial combined installed production capacity. Polestar intends to expand its contract manufacturing presence to facilities in the U. S. and South Korea.

Volvo Cars Chengdu facility

Polestar 3 is manufactured in Volvo Cars’ Chengdu plant. The facility opened in 2013. The production of Polestar 3 started in early 2024.

Taizhou facility

Polestar 2 is produced in the Taizhou facility. The facility opened in 2016. The plant is focused on the CMA platform, and also produces Volvo XC40. In October 2021, Geely and Volvo Cars agreed to transfer the Luqiao facility to Volvo Cars. The transfer was effectuated in December 2021 and did not affect production of the Polestar 2 at the facility.

Charleston facility

Polestar 3 is manufactured in Volvo Cars’ Charleston, South Carolina, USA, facility. The facility opened in 2018, and produces Volvo Cars EX90, which share the SPA2 platform with Polestar 3. Production began in summer 2024 and is dedicated to the US and part of the European market.

Busan facility

Polestar 4 is planned to be manufactured in Busan, South Korea, with production destined to the European, US and domestic South Korean market. The plant is owned by Renault Korea Co Ltd ("RK"), which is 35% owned by Geely. Production is expected to start in the second half of 2025.

Hangzhou Bay

Polestar 4 is manufactured in Geely owned Hangzhou Bay plant, with production having started at the end of 2023 for the Chinese market and during the first half of 2024 for the European market. The plant is used for several brands of the Geely group, as well as brands outside of the Geely group. The facility opened in 2022.

Chongqing facility

Polestar 5 will be produced in the Chongqing, China plant owned by Geely and currently operated by Polestar. Geely is planned to take over the operations of the plant during Q2 2025. Production for Polestar 5 is expected to start in Q2 2025.

We believe that our facilities are adequate to meet our needs for the immediate future and that suitable additional space will be procured to accommodate any expansion of our operations, as needed.

ITEM 4A. UNRESOLVED STAFF COMMENTS