Company: PLSAY
Filing Date: 2025-05-09
Form Type: 20-F
Source: 0001884082-25-000012
Chunk: 104

Company: Polestar Automotive Holding UK PLC
Filing Date: 2025-05-09
Form: 20-F
Item: Item 4
Chunk 104
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 significant changes being made to improve operational, commercial and financial performance.

On January 20, 2025, Polestar confirmed its official entry into France planned for the summer of 2025 and appointed Stéphane Le Guevel Managing Director of Polestar France, effective February 2025.

On February 20, 2025, Polestar announced that Polestar 4 had been named Executive Car in UK Car of the Year Awards.

On February 26, 2025, Polestar announced that Polestar 4 had won the Car of the Year and Design Car of the Year in South Korea.

On February 28, 2025, Polestar announced that the company had secured a 12-month term facility of up to USD 450 million and had renewed the EUR 480 million Green Trade Finance Facility.

On April 10, 2025, Polestar announced that Polestar had signed an agreement to terminate the business of the Joint Venture and transfer the PRC distribution rights and certain assets from the JV to Polestar. Also, on April 10, 2025, Polestar reported that its global retail volumes for Q1 2025 amounted to an estimated 12,304 cars, up 76% versus Q1 2024.

Polestar’s Strategy

The global car industry is undergoing a fundamental transformation transitioning from cars run on an internal combustion engine to electrical vehicles. Polestar believes it is optimally positioned to be at the forefront of this change, with a strong and established market presence and a rapidly expanding model portfolio, including two SUVs, which target one of the fastest growing sectors in the global car market. Industry growth is driven by growing consumer awareness of environmental impact, technological improvement and shifting consumer preference. Increasingly rigorous environmental regulation and expanded charging infrastructure will also drive adoption of electric vehicles.

At the beginning of 2025, Polestar updated its business strategy and medium-term targets. The Company is entering the next chapter on its journey to accelerate the change towards a sustainable electric future by making the performance cars of tomorrow. In 2024, the Company transitioned from selling one model, Polestar 2, to now selling three models, Polestar 2, 3, and 4, and Polestar 5 is expected to be available in the second half of 2025. The Company is present in 27 markets (a 28th market is expected to be launched in the second half of 2025, in France) and is accelerating its shift to an