Company: PLSAY
Filing Date: 2025-05-09
Form Type: 20-F
Source: 0001884082-25-000012
Chunk: 324

Company: Polestar Automotive Holding UK PLC
Filing Date: 2025-05-09
Form: 20-F
Item: Item 19
Chunk 324
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           768,264           973,877  

F-9

T able of Contents

Notes to the Consolidated Financial Statements

(in thousands of U. S. dollars unless otherwise stated)

Note 1 - Overview and basis of preparation

General information

Polestar Automotive Holding UK PLC (the “ Parent”), together with its subsidiaries, hereafter referred to as “ Polestar,” “ Polestar Group” and the “ Group,” is a limited company incorporated in the United Kingdom. Polestar Group operates principally in the automotive industry, engaging in research and development, branding and marketing, and the commercialization and selling of battery electric vehicles, and related technology solutions. Polestar Group's current lineup of battery electric vehicles consists of the Polestar 2 ("PS2"), a premium fast-back sedan, the Polestar 3 ("PS3"), a luxury aero sport-utility vehicle, the Polestar 4 ("PS4"), a premium sport utility vehicle, the Polestar 5 ("PS5"), a luxury sport grand-touring sedan, and the Polestar 6 ("PS6"), a luxury roadster. As of December 31, 2024, the PS2, PS3, and PS4 are in production while the remaining vehicles are under development. Operating sustainably is a critical priority of the Group; targeting climate neutrality by 2040, creating a climate neutral car (cradle-to-gate) by 2030, and halving the emission intensity per car sold by 2030. Polestar Group has a presence in 27 Assar Gabrielssons väg 9, 418 78 Göteborg, Sweden.

As of December 31, 2024, 2023, and 2022, related parties owned 81.8 88.3 89.21 18.2 11.7 10.79

Merger with Gores Guggenheim, Inc.

Gores Guggenheim, Inc. (“ GGI”) was a special purpose acquisition company (“ SPAC”) formed for the purpose of effecting a merger, capital stock exchange, asset acquisition, stock purchase, reorganization or a similar business combination. GGI was incorporated in Delaware on December 21, 2021 and completed its initial public offering (“ IPO”) on March 25, 2021.

On September 27, 2021, GGI entered into a Business Combination Agreement (“ BCA”) with Polestar Automotive Holding Limited, a Hong Kong incorporated company (“ Former