Company: PLSAY
Filing Date: 2025-05-09
Form Type: 20-F
Source: 0001884082-25-000012
Chunk: 416

Company: Polestar Automotive Holding UK PLC
Filing Date: 2025-05-09
Form: 20-F
Item: Item 19
Chunk 416
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56,001 1,392 85,542

On August 1, 2023, the Group completed the sale of the asset group to Geely. Upon disposal of the asset group, cumulative foreign exchange losses of $ 6,636 16,334Note 27 - Related party transactions for additional details.

Note 29 - Commitments and contingencies

Commitments

As of December 31, 2024, commitments to acquire PPE and intangible assets were $ 0 26,124 42,288 31,338 0 68,600Note 10 - Investment in associates for more details on the investment in Polestar Times Technology.

Polestar has contractual obligations with certain suppliers including non-cancelable manufacturing commitments or minimum sales volume commitments. In the event of a shortfall in sales or Polestar´s decision to terminate such contracts, these suppliers are entitled to compensation from Polestar. The amounts in the table below represent Polestar's future commitments as of December 31, 2024:

                                                Total                     Less than 1 year                  Between 1-5 years                   After 5 years  
  Non-cancelable manufacturing commitments      268,811                   38,879                            171,797                             58,135         
  PS4 license volume commitments                83,073                    22,086                            60,987                              —              
  Total                                         $            351,884      $                     60,965      $                      232,784      $              

Contingencies

In the normal course of business, the Group is subject to contingencies related to legal proceedings, claims, and other assessments that cover a wide range of matters. Liabilities for such contingencies are not recorded until it is probable that a present obligation exists and the amount of the obligation can be estimated reliably. However, contingencies are disclosed when the potential financial effect could be material. As of December 31, 2024 and 2023, the Group did not have any material contingencies

Note 30 - Subsequent events

Management has evaluated events subsequent to December 31, 2024 and through May 9, 2025, the date these Consolidated Financial Statements were authorized for issuance by the Board of Directors. The following events which occurred subsequent to December 31, 2024 merited disclosure in these Consolidated Financial Statements. Management determined that no adjustments were required to the figures presented as a result of these events.

On January 21, 2025,