Company: PLSAY
Filing Date: 2025-07-01
Form Type: 6-K/A
Source: 0001884082-25-000014
Chunk: 13

Company: Polestar Automotive Holding UK PLC
Filing Date: 2025-07-01
Form: 6-K/A
Chunk 13
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.8 million for the six months ended June 30, 2023. The decrease was driven primarily by lower volumes of Polestar 2 sales across certain geographic markets such as the United Kingdom, United States, Germany, and Sweden. Additionally, a $106.7 million increase in discounts to fleet customers contributed to the decrease in revenue from Sales of vehicles.

Sales of software and performance engineered kits for the six months ended June 30, 2024 were $7.9 million, a decrease of $3.5 million, or 31% compared to $11.4 million for the six months ended June 30, 2023. The decrease is a result of Polestar's continued emphasis on its own vehicles, coupled with a continued decline in Volvo Car's sales of Polestar's performance engineered kits.

Vehicle leasing revenue for the six months ended June 30, 2024 was $11.6 million, an increase of $4.1 million, or 54% compared to $7.5 million for the six months ended June 30, 2023. This activity is primarily driven by greater recognition of deferred revenue for repurchase vehicles sold to external parties as compared to the six months ended June 30, 2023.

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Other revenue for the six months ended June 30, 2024 was $1.1 million, a decrease of $7.0 million, or 86% compared to $8.1 million for the six months ended June 30, 2023. The decrease is driven primarily by less sales-based royalties received from Volvo Cars on sales of parts and accessories for the Polestar as compared to the six months ended June 30, 2023.

#### Cost of sales and gross profit/(loss)
Cost of sales for the six months ended June 30, 2024 was $932.5 million, a decrease of $282.3 million, or 23% compared to $1,214.8 million for the six months ended June 30, 2023. This decrease was mainly due to a $199.5 million reduction in material costs related to lower sales volumes of Polestar 2, an $88.7 million reversal of previous inventory impairments for vehicles sold, and decreased warranty costs of $17.6 million. These decreases were partially offset by an increase in write-downs of inventories to net realizable value of $19.9 million.

Gross profit/(loss) for