Company: PLSAY
Filing Date: 2025-05-09
Form Type: 20-F
Source: 0001884082-25-000012
Chunk: 414

Company: Polestar Automotive Holding UK PLC
Filing Date: 2025-05-09
Form: 20-F
Item: Item 19
Chunk 414
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 are also included in administrative costs.

The total purchases of goods, services and other for each related party is shown in the table below:

                             For the year ended December 31,                                
                                                        2024           2023           2022  
 ────────────────────────────────────────────────────────────────────────────────────────────
  Volvo Cars                                       1,330,998      2,341,970      2,215,643  
  Geely                                              877,908        252,888        248,553  
  Other related parties                               13,204          7,693          1,566  
  Total                                                    $              $              $  

Cost of R& D and intellectual property

Polestar has entered into agreements with Volvo Cars and Geely regarding the development of technology leveraged in the development of the PS1, PS2, PS3, and PS4. The Group is in control of the developed product either through a license or through ownership of the IP and the recognized asset reflects the relevant proportion of Polestar Group’s interest. The recognized asset associated with these agreements as of December 31, 2024 was $ 865,055 116,301 1,066,766 241,048

Amounts due to related parties

Amounts due to related parties include transactions from agreements associated with purchases of intangible assets, sales and distribution, procurement, manufacturing and other support from Volvo Cars and Geely.

                                                                                                            As of December 31,               
  Trade payables – related parties, accrued expenses, and other current liabilities to related parties                    2024         2023  
 ─────────────────────────────────────────────────────────────────────────────────────────────────────────────────────────────────────────────
  Volvo Cars                                                                                                           562,676      494,170  
  Geely                                                                                                                528,711      195,255  
  Polestar Times Technology                                                                                             10,016       30,668  
  Other related parties                                                                                                  8,473        2,875  
  Total                                                                                                                      $            $  

  As of December 31,  
 ──────────────────────

F-66

T able of Contents

  Interest-bearing current liabilities - related parties        2024                     2023              
 ───────────────────────────────────────────────────────────────────────────────────────────────────────────
  Volvo Car Financial Services UK                             54,975                   44,878              
  Geely                                                       28,688