Company: PLSAY
Filing Date: 2025-04-23
Form Type: 20-F/A
Source: 0001884082-25-000005
Chunk: 183

Company: Polestar Automotive Holding UK PLC
Filing Date: 2025-04-23
Form: 20-F/A
Chunk 183
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 | 213,242 |     |    $ | 108,402 |     |    $ | 45,218 |

For the years ended December 31, 2023, 2022 and 2021, interest expense to related parties was comprised of interest on overdue Trade payables balances and interest on related party borrowings. For the year ended December 31, 2023, Loss on debt modification relates to loss incurred on Polestar's modification of its related party convertible instrument with Volvo Cars. Refer to Note 27 - Related party transactions for further discussion.

Note 12 - Leases

Polestar Group as Lessee

As a lessee, Polestar Group primarily leases buildings and manufacturing production equipment. The Group also has short-term and low value leases related to the leasing of temporary spaces and small IT equipment, respectively. The lease term for land and buildings is generally 2- 15years, with the exception of one long term land lease with a term of 50years. The lease term for machinery and equipment is generally 2- 6years.

The following table depicts the changes in the Group’s right-of-use assets, which are included within Property, plant, and equipment:

|                                                            |     | Buildings and land |         |     | Machinery and equipment |        |     | Total |         |
| Acquisition cost                                           |     |                    |         |     |                         |        |     |       |         |
| Balance as of January 1, 2022                              |     |                    |  45,113 |     |                         | 51,144 |     |       |  96,257 |
| Additions                                                  |     |                    |  42,449 |     |                         |  1,065 |     |       |  43,514 |
| Cancellations  - (Restated)                                |     |                    |       — |     |                         |   -309 |     |       |    -309 |
| Reclassification to Assets held for sale                   |     |                    |  -4,975 |     |                         |      — |     |       |  -4,975 |
| Effect of foreign currency exchange rate differences       |     |                    |  -4,399 |     |                         | -4,817 |     |       |  -9,216 |
| Balance as of December 31, 2022 - (Restated)               |     | $                  |  78,188