Company: PLSAY
Filing Date: 2025-05-09
Form Type: 20-F
Source: 0001884082-25-000012
Chunk: 145

Company: Polestar Automotive Holding UK PLC
Filing Date: 2025-05-09
Form: 20-F
Item: Item 5
Chunk 145
---
star has higher than expected discounting or advertising and promotion costs, its future margins may suffer.

Polestar’s gross margins are also dependent upon its ability to manage costs, including costs associated with raw materials and key components of production, and to implement cost savings initiatives. Polestar’s future financial performance also requires Polestar to accurately forecast demand for its vehicles. Inaccurate demand forecasts may lead to Polestar offering deeper discounts or experiencing greater than expected sales volumes of discounted vehicles. As a result of inaccurate forecasts, Polestar could also experience higher than expected production, operating expense, advertising, sales and promotion costs or may be unable to effectively charge such costs to customers in a targeted manner. This could result in vehicles being sold with fewer options and trim levels, higher than expected sales volumes of lower-priced variants, and/or failure of Polestar to meet its gross margin and profitability expectations.

A. Results of operations

Polestar conducts its business as one operating segment with primary commercial operations in North America, Europe, Asia and various importer markets. While Europe and the North America represent Polestar’s primary geographic markets, Polestar’s presence is continuing to expand in Asia. Refer toNote 1 - Overview and basis of preparation in Polestar’s Consolidated Financial Statements for more information on the basis of presentation andNote 5 - Geographic information for more information on segment reporting. The following paragraphs describe the key components of revenue, income, and expenses as presented in our Consolidated Statement of Loss and Comprehensive Loss.

Key operational highlights

The below table summarizes the key operational highlights as of and for the years ended December 31, 2024, 2023 and 2022.

                                                               For the year ended December 31,                          
  Key metrics                                                                             2024        2023        2022  
 ────────────────────────────────────────────────────────────────────────────────────────────────────────────────────────
  Retail sales 1                                                                        44,851      52,796      50,510  
  including external vehicles with repurchase obligations                                1,651       2,859       1,344  
  including internal vehicles                                                            2,927       1,958       1,630  
                                                               For the year ended December 31,                          
                                                                                          2024        2023        2022  
  Markets 2                                                                                 27          27          27  
  Spaces 3                                                                                 193         192         158  
  Sales Points 4                                                                           175         153