Document:

EX-10.26

  
 Exhibit 10.26 

1(6) 

 Certain identified information marked with “[***]” has been omitted from this document because it is
both (i) not material and (ii) the type that the registrant treats as private or confidential. 
 COMPONENT SUPPLY AGREEMENT

 This Component Supply Agreement (the “Agreement”) is entered into on the date indicated below and made between: 

 

	(1)	 Polestar New Energy Vehicle Co., Ltd., a limited liability company incorporated under the laws of China
(“PSJV”); and 

  

	(2)	 Zhejiang Haoqing Automobile Manufacturing Co., Ltd. Chengdu Branch, a limited liability company
incorporated under the laws of China (‘‘Haoqing”). 

 Each of PSJV and Haoqing is hereinafter referred
to as a “Party” and, jointly, as the “Parties”. 
 RECITALS 

WHEREAS, PSJV manufactures and Haoqing assembles the components for Polestar branded vehicles (“Components”), and have the necessary
experience, expertise, and property, plant, and equipment to do so. 
 WHEREAS, Haoqing may, from time to time, buy from PSJV such Components for
assembly into Polestar Branded Vehicles. 
 WHEREAS, the Parties intend to provide arm’s length compensation for the Components that they buy
and sell, as measured by the amount of compensation that uncontrolled Third Parties would have realized in similar uncontrolled transactions under the same or similar conditions. 

WHEREAS, given the fact that this is a new area of cooperation between the Parties certain matters still remain to be resolved and this Agreement
therefore may be revised after a certain initial period to be agreed upon between the Parties. 
 NOW THEREFORE, in consideration of the agreements
hereinafter set forth and other good and valuable consideration received, the Parties agree as follows: 
 ARTICLE I: 

COMPONENT ORDER AND SUPPLY 
 1.1. Orders. Haoqing
may place or cause to be placed, from time to time at its discretion, Orders with PSJV for Components in accordance with Commercial Terms set forth in Appendix A, as amended or modified from time to time upon mutual agreement between or among the
Parties. 
 1.2. Component Supply. PSJV agrees to fill the Orders by supplying the Components to Haoqing. In that connection, PSJV will maintain the
production process to meet and fulfil the Orders, and will acquire or supply all other materials, production factors, Supplies and services necessary. 

1.3. Quality. PSJV will ensure that the Components that it supplies to fulfil the Orders are of good quality and meet the agreed standards. PSJV is
responsible for properly checking the quality and quantity of the Components that it sells to Haoqing. 

  
 2(6) 

 ARTICLE II: 

FEES AND PAYMENTS 
 2.1. Compensation. Haoqing will
compensate PSJV in the aggregate for all Components that PSJV supplies during each calendar year, any compensation shall be calculated at arm’s length pricing principle. 

2.2. Payments. Haoqing and PSJV will make and receive all payments under this Agreement in accordance with the Commercial Terms set forth in Appendix
A. 
 ARTICLE III: 
 INTANGIBLES AND INTELLECTUAL
PROPERTY RIGHTS 
 3.1. Intangibles and Intellectual Property Rights. This Agreement does not create or alter any ownership, economic; or
financial interest in any Intangibles. 
 Intangibles, including but not limited to, Intellectual Property Rights created by a Party under the term of this
Agreement, if any, shall vest with the creating Party. 
 3.2. Construction. Nothing in this Agreement will be construed as altering the ownership or
licensing of any Intangibles. Accordingly, Haoqing will not pay PSJV a technology license fee (or any similar type of fee) in relation to the Components. 

ARTICLE IV: 
 TERM 

4.1. Evergreen Extension. This Agreement automatically extends on January 1st of each year subsequent to the Term set forth in Section 4.2. 

4.2. Term. This Agreement shall become effective when signed by duly authorised signatories of each Party and shall, unless terminated in accordance
with the provisions for earlier termination contained in Article V, remain in force until and including December 31, 2019 (‘Term”). For purposes of this Agreement, ‘Term” also includes any Evergreen Extension described in
Section 4.1 of this Article. 

 
 3
(6) 
  

 ARTICLE V: 

TERMINATION OF AGREEMENT 
 5.1. Termination for
Insolvency. In case of bankruptcy, insolvency, or the appointment of a receiver for all or substantially all of the assets of a Party throughout the Term, the other Parties may (at their discretion and mutual agreement) terminate this Agreement
immediately, in whole or in part (for example, by excluding the terminating Party) by giving written notice of such termination. 
 5.2. Voluntary
Termination. An individual Party may terminate this Agreement, as it pertains to that Party (the “terminating Party’), at any time during the Term without any cause whatsoever (including for example and without limitation, for cause
because of a material breach by PSJV or Haoqing), upon giving 12 Months prior written notice to each of the other Parties. 
 a.
Obligations upon Termination. Upon such termination by a terminating Party, neither the terminating Party nor the Parties that are affected by the termination (the “affected Parties”) are exempted from any obligations incurred prior
to the date of termination, including the obligations to deliver and take delivery of Components that have been ordered and accepted prior to such termination. Haoqing, however, need not take delivery of or pay for any Component that PSJV delivers
(or causes to be delivered) after this Agreement has come to an end. 
 b. Work in process. Upon receipt of notice of such termination
by a terminating Party, the other Party will (unless otherwise directed by the terminating Party in writing) promptly terminate all work under this Agreement, in relation to transactions with the terminating Party. If Haoqing is the terminating
party, Haoqing, however, may request that PSJV complete specific items of work that are partially complete, in which case Haoqing will pay a reasonable sum, at no less than arm’s length prices for completing the work. 

c. Investments. If the Agreement is terminated by Haoqing and PSJV has made investments in additional capacity in their own facility
and/or advance payments to a third party Supplier to invest in additional capacity in relation to a Product and such investments have not been fully depreciated and amortized as at the date of termination, following termination Haoqing shall
compensate PSJV the book value of such investment. 
 5.3. Effect of Termination. In the event of termination under paragraph 5.1 or 5.2 of this
Article, the remedies of the terminating Party and each affected Party will be determined by arbitration as set out in Article VII. Further, voluntary termination by a terminating Party will not affect any of the provisions that are intended to
continue to have effect after this Agreement has come to an end. 
 ARTICLE VI: 

GENERAL PROVISIONS 
 6.1. Appendices. The Appendices
form a part of this Agreement and are construed and have the same full force and effect as if expressly set out in the body of this Agreement. In case of a conflict between the terms in this Agreement and any Appendix, the terms of the Agreement
will prevail. 
 6.2. Excusable Delay. No Party is liable for damages for failing to perform its obligations under this Agreement when the failure is
attributable to an Excusable Delay. 
 6.3. Performance. If PSJV is unable to perform as required under this Agreement for any reason (but excluding
Haoqing’s breach of a material term hereunder) for a period of 21 Days, Haoqing may temporarily resource supplies of Components from elsewhere, without rendering itself in breach of any provision under this Agreement, and may reduce pro tanto
the quantity or amounts ordered hereunder. If the above-mentioned term exceeds 180 Days, Haoqing and PSJV will in good faith negotiate appropriate remedies and, as appropriate or necessary, will amend the terms of this Agreement. 

 
 4
(6) 
  

 6.4. Notices. Any formal notices under this Agreement, including without limitation notices of breach
or termination, required or otherwise given under this Agreement will be given in writing. The notices must, as the case requires, be addressed to the Party to be notified at the following addresses and numbers (including email addresses, where
applicable): 
  

			
	g.To PSJV:	  	Polestar New Energy Vehicle Co., Ltd.
		
		  	Attn: [***]
		
		  	Address: 27F, No 501, Dongdaming Road, Sinarmas Plaza, Hongkou District, Shanghai, China
		
		  	Email: [***]

  

			
	h. To Haoqing	  	Zhejiang Haoqing Automobile Manufacturing Co., Ltd. Chengdu Branch
		
		  	Attn: [***]
		
		  	Address: No 368, Eastchecheng 7 Road, Longquanyi District,Chengdu, Sichuan Province , China
		
		  	Email: [***]

 6.5. Amendment or Modification. No modification of or waiver regarding this Agreement is effective or binding on either
Party unless in writing and executed by a duly authorised representative of each Party. 
 6.6. Assignment. No Party may assign this Agreement or any
right hereunder or interest herein, without the prior written consent of the other affected Party. 
 6.7. Severability. If any section of this
Agreement is held by a court of competent jurisdiction to be void or unenforceable the other sections of this Agreement will continue in effect, and the Parties will endeavour to carry out the intent of the provision so held to be void or
unenforceable to the extent permitted by law. 
 6.8. Taxes and Duties. Each Party is responsible for taxes and duties in line with the financial
responsibilities defined in this Agreement. 
 6.9. Waiver. No delay or failure by any Party to exercise any of its powers, rights, or remedies under
this Agreement will operate as a waiver of any such remedies preclude any other or further exercise of them. No waiver by any Party for any breach by the other Party of any provision of this Agreement constitutes a waiver of any subsequent breach of
that or any other provision of this Agreement. 
 6.10. Priority of Agreement. This Agreement’s terms, provisions, and conditions control and
have priority over any conflicting or inconsistent terms and conditions that are contained in any agreement that the Parties may have executed on a date prior to this Agreement’s effective date. 

 
 5
(6) 
  

 6.11. Governing Language and Law. This Agreement is written in the English language. All questions
concerning the construction, validity and interpretation of this Agreement are governed by Chinese law. Any translation of this Agreement into Swedish or Chinese is for the convenience only and the English version shall take precedence. 

6.12. Confidentiality. Any policy or procedure established by the Party’s, and appended to this Agreement, regarding handling of information shall
be considered part of this agreement and fulfilled by both Parties as well as any Third Party. 
 Each Party will take reasonable measures to protect the
confidentiality of the matters described and addressed in this Agreement. For this purpose, “reasonable measures” means the same measures for the same period that the respective Party takes in relation to its own matters of a similar
nature or character. In the event that any Party wishes to discuss the matters herein with any Third Party (other than the Party’s advisors), the Party shall prior to such action obtain the other Party’s written approval hereto, and
further ensure the confidentiality of the information by signing appropriate confidentiality agreements with the Third Party. 
 6.18. Definitions.
The definitions set forth in Appendix B control for all purposes of this Agreement. 
 ARTICLE VII: 

DISPUTE RESOLUTION 
 7.1. Claims. The Parties will
use their best efforts to settle any claim for breach of this Agreement, or any claim arising out of a dispute concerning the existence or validity of the Agreement, by reaching a just and equitable settlement satisfactory to the Parties. Both
Parties shall appoint a person representing each Party respectively, said representative will consider and put in its best effort in order to resolve any such claim. If such representative cannot settle the claim, any Party may deliver to the other
Party or Parties a “Notice of Claim,” which details the notifying Party’s claim. 
 If the Parties do not settle the claim within 30 Days
after delivery of the Notice of Claim, then unless the Parties otherwise agree in writing, the Parties will submit the claim to mediation in accordance with Rules of the Mediation Institute of the Stockholm Chamber of Commerce, unless one of the
Parties objects. If one of the parties objects to Mediation or if the Mediation is terminated, the dispute shall be finally resolved by arbitration in accordance with the Arbitration Rules of the Arbitration Institute of the Stockholm Chamber of
Commerce. Such arbitration is binding and will result in the sole and exclusive remedy among the Parties in relation to the claim. The Arbitration procedures will be held in English. 

 
 6
(6) 
  

 IN WITNESS WHEREOF, the Parties have executed this Agreement on the date indicated below: 

POLESTAR NEW ENERGY VEHICLE CO., LTD. 
  

	
	 /s/ Lars Danielson

	 Name: Lars Danielson

	 Capacity: Legal Representative

 ZHEJIANG HAOQING AUTOMOBILE MANUFACTURING CO., LTD. CHENGDU BRANCH 

 

	
	 /s/ Xiaolin Yuan

	 Name: Xiaolin Yuan

	 Capacity: Legal Representative

 Appendices: 
 A - Commercial
Terms 
 B - Definitions 

 VOLVO 

Appendix A 
 COMMERCIAL TERMS 

The following Commercial Terms govern this Agreement: 

1. Component Supply 
 1.1. PSJV will
supply Haoqing with Components to fulfil Orders placed by Haoqing in accordance with the Prices on an arms lengths principle. PSJV will sell all such Components Ex Works or FCA as appropriately agreed by the parties. 

2. Component Orders and Program Volumes 

2.1. Haoqing will order and PSJV will supply Components in volumes in accordance with the programming as appropriate and ordering processes that are in current
operation, and as amended in the future. 
 2.2. Haoqing will, to the extent practical and reasonable, provide volume projections to PSJV as part of
Haoqing’s annual business planning and budget processes. 
 2.3. Haoqing and PSJV will use agreed business processes regarding Orders and volumes.
Orders will be collected, segmented, scheduled, and submitted using the systems upon which Haoqing and PSJV may agree from time to time. 

3. Manufacturing Capacity 
 3.1. PSJV will
install or maintain (as the case may be) during the Term and any extension thereof, the Capacity to manufacture, assemble, and supply Components to Haoqing in the quantities under the Orders, up to the maximum volume as set out in the Capacity
Planning Volume. 
 3.2. Haoqing and PSJV will work together throughout the Term to agree PSJV’s manufacturing Capacity by matching available Capacity
to demand with the opportunity to adjust for seasonal and other volume fluctuations. 
 3.3 If Haoqing request to make any unique capacity investments, the
parties shall discuss the consequences hereof and agree upon responsibility split. 
 4. Component Delivery 

4.1. PSJV will deliver the finished Components on the dates that Haoqing specifies in the Orders, or any mutually agreed extended date. If Haoqing does not
specify a date for any specific Order, PSJV will assemble, manufacture, and deliver the finished Components within a commercially reasonable time. 
 4.2.
PSJV will deliver the finished Components to Haoqing or its delivery agent, in a deliverable condition and in accordance with the Agreement, at a delivery compound of Facility that the Parties will specify from time to time. 

5. Quality, Acceptance, and Inspection 

5.1. PSJV will ensure that the terms and conditions that it negotiates with its sub-contractors (if any) provide
adequately for Haoqing’s rights in this Section. 

 VOLVO 
  

 5.2. The quality metrics requirements for in-Plant Facilities will
apply to all finished Components. PSJV will meet the objective standards of applicable Plant Quality Standards and PSJV will maintain such standards. 

5.4. PSJV is not responsible for damage to Components that occurs after they have been delivered to the appropriate Haoqing’s transportation agent. 

5.5. The Parties may amend, by formal written agreement, the inspection processes or other provisions set forth in this Section. 

6. Right to Reject 
 6.1. PSJV will repair
any rejected Component within a commercially reasonable time, provided however that Haoqing always has the right to reject a Component that fails to conform to this Agreement. If a particular Component cannot be repaired, PSJV will replace any
nonrepairable item. Haoqing may return any rejected Component to PSJV carriage paid and at PSJV’s risk and cost. 
 7. Defects

 7.1. PSJV will physically correct any defects found either prior to acceptance of Components by Haoqing or its designee. Haoqing is not obliged to accept
Components if PSJV has not properly corrected the defect. PSJV is entirely responsible for defect correction costs incurred in respect to defects in assembly or manufacture of the Components and will not seek to pass on such costs to Haoqing. 

7.2. If in delivering Components under this Agreement, PSJV delivers a Misbuild to Haoqing, Haoqing and PSJV will handle any rejected Misbuilds in accordance
with Section 6.1, and PSJV alone will bear all correction costs. 
 8. Material Planning and Logistics 

8.1. Shipments are FCA as agreed between the parties and PSJV will work with Haoqing to arrange the outbound logistics and transportation of Components from
its Facility to market destinations specified by Haoqing (and Haoqing Affiliates) on Haoqings behalf. The responsibility for these arrangements may be changed by the formal written agreement of Haoqing and PSJV. 

8.2 Prices are FCA as agreed between the parties. Additional logistics costs for standard freight, insurance, export packaging, duty, and taxes, will be
agreed among Haoqing, Seller, and the relevant freight providers, and will be paid by the Haoqing. 
 9. Prices, Invoices, and
Payments 
 9.1. The Price per Component will be determined on “arms length terms”. 

9.2. PSJV will invoice Haoqing in the form of invoice as agreed by Haoqing and PSJV on a monthly basis. Invoices may be generated electronically; provided
however that Haoqing may request hard-copy summary invoices that total batches of individual invoices over a specified period, in order to satisfy VAT and Customs reporting requirements. 

 VOLVO 
  

 9.3. Payment terms are 75 days net after date of invoiced has been issued. Haoqing will pay PSJV for the
invoice in accordance with that. 
 9.4 Payment of all invoiced amounts will be in CNY/CNH, or such other currency as Haoqing and PSJV may agree, and
against an invoice issued to Haoqing by PSJV or vice versa, by electronic means, if possible. 
 9.5. V A T is chargeable on all invoiced amounts only where
required by local law and shall be borne by Haoqing. Haoqing may appoint an affiliate or Third Party to handle the requisite V A T registration and recovery. 

10. Title Passage, Risk of loss, Warranty and Insurance 

10.1. Title to each Component passes FCA to Haoqing unless otherwise agreed with PSJV in accordance with the provisions of Sections 4 and 5 of this Appendix,
without prejudice to Haoqing’s right to reject Components under Section 6 hereof. 
 10.2. The risk of loss for each Component will pass to
Haoqing when PSJV has delivered the Component to Haoqing in accordance with Sections 4 and 5 of this Appendix, upon entry into the delivery compound or Facility, provided that the risk in any Component that Haoqing rejects under Section 6 above
reverts to PSJV immediately upon Haoqing giving notice to PSJV of the rejection. 
 10.3 Any Warranty Claim and Product Liability Claim shall be handled as
stated in and in accordance to the policies agreed between the parties. 

 VOLVO 
  

 Appendix B 

DEFINITIONS 
 The following terms have the following
meanings in this Agreement: 
 “Affiliate” means 
  

	 	a)	 for PSJV, any other legal entity that, directly or indirectly, is controlled (individually or jointly) by:

  

	 	i.	 Polestar Automotive (Shanghai) Co., Ltd; 

 

	 	ii.	 Polestar New Energy Vehicle Co., Ltd.; 

 

	 	ill.	 Polestar Holding AB; or 

 

	 	iv.	 Polestar Performance AB; and 

 

	 	b)	 for Haoqing, Zhejiang Geely Holding Group Co., Ltd. and any other legal entity that, directly or indirectly, is
controlled by Zhejiang Geely Holding Group Co., Ltd. however excluding PSJV and its Affiliates; 

 “control” for this purpose
meaning ownership or control of at least fifty per cent (50%) of the voting stock, partnership interest or other ownership interest of such legal entity. The Parties, however, agree to renegotiate this definition of “Affiliate” in good
faith if it in the future does not reflect the Parties’ intention at the time of signing this Agreement due to a restructuring or reorganisation in relation to either of the Parties. 

“Agreement” means this Agreement as originally executed and as amended from time to time, together with its Appendices. 

“Arm’s length principle”. The Price for any Component that PSJV manufactures or assembles for and supplies to Haoqing meets the arm’s
length principle if the results of the transaction are consistent with the results that would have been realized if uncontrolled taxpayers had engaged in comparable transactions under comparable circumstances. 

“Capacity Planning Volumes” means the annual Component Capacity planning volume mutually agreed between Haoqing and PSJV for which suppliers and the
Parties should have installed Facilities and tooling. 
 “Component” means any part that is required to manufacture, assemble, or repair a
Polestar Branded Vehicle. 
 “FCA” means such terms as are defined in Incoterms 2010. 

“Excusable Delay” means any delay in making or accepting deliveries or performance (without fault or negligence on the part of the Party involved)
which is due to a force majeure, meaning causes beyond its reasonable control including but without limitation, acts of God or of a public enemy; any preference, 

 VOLVO 
  

 
priority, or allocation order issued by government or any other act of government; any act of the other Party hereto; fires, floods, epidemics, quarantine restrictions, riots, strikes, labour
disputes, freight embargoes, unusually severe weather, changes in law or government, or delays of a supplier due to such causes; or court order or acts (other than a court order brought about by the fault of the Party invoking the force majeure).
“Excusable Delay” does not, however, mean or include financial difficulties of a Party that are not attributable directly to a force majeure. 

“Facility” means a building, Plant, premise, machine, equipment, fixture, or fitting required to build and store the Components. 

“ Intangibles” includes (but is not limited to) patents, designs, specifications, or other similar knowhow related to or associated with Vehicles or
Components, including without limitation the Information defined herein. 
 “ Plant Quality Standards)” means those quality standards that are in
place (and as amended in the future) in relation to VOLVO Plant Facilities. 
 “Information” means information, data knowledge, discovery, trade
secret, invention, patented or patentable, process, method, plan, know-how and, in general, any news having a technical, economical, commercial or administrative nature, and including any drawing, document,
magnetic equipment, software program, photo material, sample of material or any other material belonging to one of the Parties. 
 “Misbuild”
means any Component whose specifications, features and options, as built by PSJV, do not match or comply with those on Haoqing’s Order for that Component, or any Component that is damaged, or has missing components, and for which such Misbuild
reasonably is considered under commercial practices to be PSJV’s responsibility. 
 “Order” means a production order by Haoqing for the
supply by PSJV of a finished (completely built) Component, containing (as the transaction, context, circumstance, or case may be) the detailed specifications and commercial data, transmitted electronically by Haoqing to PSJV or other Polestar
Affiliate. 
 “Product Liability Claim” means any claim or lawsuit, by a Third Party, based upon personal injury or property damage allegedly
resulting from a defect in a Vehicle or Component thereof. 
 “Plant” or “Plant Facility” means a specific Facility in which the
manufacture or assembly of a Component or Components takes place. 
 “Price” is the individual unit price from time to time of each Component.

 “Raw Materials” means the tangible components, materials, parts, or other items that are required to assemble or manufacture the Components.

 “Supplies” means tangible shop supplies that are required or maintained in order to facilitate assembling or manufacturing the Components. 

“Third Party” means any person not a Party or an Affiliate of a Party. “Unit” means an individual Component. 

“Vehicle” means a Polestar Branded passenger car. 

 VOLVO 
  

 “Warranty Claims” means those claims validly made by end user customers under the terms of the
Parties’ customer warranties. 
 “Working Days” means a Day during which production, sales, or business activities are scheduled in the
normal operation and ordinary course of Polestar business.EX-10.27

 Exhibit 10.27 

Certain identified information marked with “[***]” has been omitted from this document because it is both (i) not material and (ii) the
type that the registrant treats as private or confidential. 
 GENERAL DISTRIBUTOR AGREEMENT 

Zhejiang Haoqing Automobile Manufacturing Co., Ltd. Chengdu Branch 

and 
 Polestar
Automotive China Distribution Co., Ltd. 
 Regarding Manufacturing and Distribution of Polestar Produc 

 This General Distributor AGREEMENT (this “Agreement”) is entered into on the date
indicated below and made between: 
  

	(1)	 Zhejiang Haoqing Automobile Manufacturing Co., Ltd. Chengdu Branch., a company incorporated under the laws of
China with registration number (91510112592068825R ) and with its registered address at 1367 Wenbai Avenue, 366, 368 Checheng East 7 road, economic development zone (Lognquanyi District, Chengdu, People’s Republic of China)
(“Haoqing”); and 

  

	(2)	 Polestar Automotive China Distribution Co., Ltd., a company incorporated under the laws of People’s
Republic of China with registration number 91510112MA6D05KT88, and with its registered address at 18 Xingguang Mid. Road, Longquanyi district, Chengdu, People’s Republic of China (t “General Distributor”).

 Purchaser and Service Provider are hereinafter individually referred to as a “Party” and jointly as the
“Parties”. 
 RECITALS 
  

	A.	 WHEREAS Polestar Performance AB (“PPAB”) has licensed General Distributor to use licensed
technology and the Polestar trademark for purpose of manufacture and/or distribution of the Contract Products as defined in this Agreement. Subsequently, General Distributor subcontracts Haoqing, to manufacture the Contract Products in Chengdu.
Therefore, Haoqing agrees to authorize General Distributor to distribute the Contract Goods. 

  

	B.	 WHEREAS, Haoqing holds the manufacturing license to manufacture and sell the Contract Products and it is
the entity purchasing the components for the Contract Products manufactured by Polestar New Energy Vehicle Co., Ltd (“PSCD”). 

  

	C.	 WHEREAS, The Parties intend to provide arm’s length compensation for the Contract Products that
they buy and sell, as measured by the amount of compensation that uncontrolled third parties would have realized in similar uncontrolled transactions under the same or similar conditions. 

 

	D.	 WHEREAS, Given the fact that this is a new area of cooperation between the Parties certain matters still
remain to be resolved and this Agreement therefore may be revised after a certain initial period to be agreed upon between the Parties. 

  

	E.	 In light of the foregoing, the Parties have agreed to execute this Agreement. 

1. DEFINITIONS 
 For the purposes of this Agreement, the
following terms shall have the meanings assigned to them below: 
 “Affiliates” shall mean “Affiliate” means any
other legal entity that, directly or indirectly, is controlled by or is under common control with Haoqing or General Distributor.; and control means the possession, directly or indirectly, by agreement or otherwise, of (i) at least 50% of the
voting stock, partnership interest or other ownership interest, or (ii) the power (a) to appoint or remove a majority of the board of directors or other governing body of an entity, or (b) to cause the direction of the management of
an entity. 

 this General Distributor Agreement including all Appendices and as amended from time to
time. 
 “Agreement” shall mean this General Distributor Agreement including all Appendices and as amended from time to time. 

“Authorized Dealers” means all persons appointed by General Distributor in accordance with this Agreement to maintain sales and/or
service facilities in any regions for any Contract Goods. 
 “Confidential Information” shall mean any information or materials
disclosed by one Party to the other, pursuant to this Agreement, which is in written, graphic, machine readable, verbal or other tangible form (whether or not such information is expressly stated to be confidential). 

“Contract Products” shall mean: 
  

	 	a.	 Polestar Vehicles manufactured by Haoqing in the versions intended for production in Haoqing; and

  

	 	b.	 appertaining new genuine parts, accessories for installation on or attachment to Polestar Vehicles, components,
aggregates, assemblies, as well as exchange or replacement parts, components, aggregates and assemblies (“Parts”). 

  

	 	c.	 Successor and supplementary models within existing model series shall become Contract Goods upon their official
launch. 

 “Effective Date” shall mean the date from which this General Distributor Agreement shall be deemed
effective in accordance with Section 3.1 in this Agreement. 
 “Trademark” means trademarks (including part numbers that are
trademarks), service marks, logos, trade names, business names, assumed names, trade dress and get-up, and domain names, in each case whether registered or unregistered, including all applications,
registrations, renewals and the like, in each case to the extent they constitute rights that are enforceable against Third Parties. 

“Polestar Vehicles” means completely built-up new Polestar branded motor vehicles as
identified in Appendix 1 
 “PPAB” means Polestar Performance AB 

“Territory” shall mean People of Republic China. 
  

	2.	 APPOINTMENT OF GENERAL DISTRIBUTOR 

 

	2.1	 Rights of Distribution: Haoqing hereby appoints General Distributor and General Distributor hereby
accepts, subject to the terms and conditions of this Agreement, to be the exclusive General Distributor for the sale and service of Contract Goods in the Territory. 

	2.2	 Limitation of Appointment: General Distributor shall have the right to sell Contract Goods to end users
of Contract Goods 

  

	2.3	 Further, nothing in this Agreement shall prevent the General Distributor or its Affiliates from independently
developing, having developed on its behalf or cooperating with a Third Party to offer products similar to or competing with the Contract Products. 

  

	3.	 EFFECTIVE DATE AND VALIDITY 

 

	3.1	 This General Distributor Agreement shall be effective as of 1 January 2020, (the “Effective
date”) and thus codifies the terms and conditions under which the Parties have acted from that date and shall, unless terminated in accordance with Section 17 below, remain in force until the Services are completed. 

 

	4.	 CONTRACT GOODS 

 

	4.1	 Haoqing agree to supply to the General Distributor and the General Distributor agrees to purchase the Contract
Products in accordance with the terms and conditions in this Agreement. 

  

	4.2	 Haoqing shall sell all Contract Products to General Distributor at completion. 

 

	4.3	 The Parties may, through written agreement, decide to add or remove products to/from Appendix 1, Any such
additional products shall thereafter be covered by this Agreement and considered as Contract Products. 

  

	5.	 SALES AND SERVICE ACTIVITIES 

 

	5.1	 General Distributor shall directly and/or through Authorised Dealer develop and maintain a sales and service
network that in terms of quality and capacity ensures the balanced and thorough distribution of Contract Goods, the supply of the market demand for Contract Goods and expert service that enhances the high-quality image, reputation and acceptability
of Contract Goods. 

  

	5.2	 General Distributor shall: 

 

	 	a.	 provide its Authorised Dealer with appropriate supervision and training; 

 

	 	b.	 actively monitor the performance by each Authorised Dealer of its agreements with General Distributor and
enforce each Selected Partner’s obligations under such agreements; 

  

	 	c.	 keep its own personnel and its Authorised Dealer advised of all information received from Haoqing.

	5.3	 The activities listed in section 5.2. above may be delegated by General Distributor to its affiliate for
management or services. 

  

	6.	 SERVICE AND WARRANTY 

 

	6.1	 Service of Contract Goods 

 

	6.1.1	 General Distributor and its Authorised Dealer shall provide service (servicing, maintenance and repair work)
for all Contract Products. 

  

	6.1.2	 General Distributor and its Authorised Dealer shall acquire and maintain systems, equipment and tools required
for properly servicing the Contract Products. 

  

	6.2	 Warranty 

  

	6.2.1	 General Distributor and its Authorised Dealer shall at their respective facility locations perform warranty
work for Contract Products. 

  

	6.2.2	 Warranty obligations shall follow the warranty terms provided by Haoqing for Contract Products, which shall be
in line with global warranty terms published by PPAB. If General Distributor is obliged by applicable law to provide more extensive warranty, they shall notify Haoqing. 

 

	6.2.3	 General Distributor shall ensure that all warranty claims with respect to the goods are settled properly and
without delay. Depending on the technical requirements, warranty work shall consist either of replacement or repair, without any charge to the customer for labor, parts, freight and customs duty. 

 

	6.2.4	 General Distributor and its Authorised Dealer shall use only genuine parts for warranty work.

  

	6.3	 The terms of paragraph 6.2.1-6.2.4 apply with equal force to service
measures such as free servicing, goodwill repairs etc. and vehicle recall activities paid for by Haoqing in whole or in part. 

  

	6.4	 If General Distributor or its Authorised Dealer gain knowledge of any defect that may impair the safety of
Contract Goods or that may otherwise be required to be notified by laws applicable to General Distributor or Haoqing, they shall immediately inform Haoqing, irrespective of whether the defect occurred during or after expiration of the warranty
period. 

  

	7.	 PARTS 

  

	7.1	 General Distributor and its Authorised Dealer shall only sell or use genuine parts in repairing and maintaining
the Contract Products. 

  

	8.	 PROMOTION, ADVERTISING 

 

	8.1	 General Distributor and its Authorised Dealer shall actively market Contract Products (as well as used cars and
other services) through advertising, promotion, and other activities in order to fulfill the potential of the market and to ensure the continued growth, awareness and positive regard for Contract Products. 

 

	8.2	 General Distributor and its Authorised Dealer shall neither use, nor allow any person or entity it controls to
use, any advertising or promotional materials that may injure Contract Products’ reputation or mislead the public. 

	9.	 OTHER OBLIGATIONS OF GENERAL DISTRIBUTOR 

 

	9.1	 To the extent of necessary for the purpose of fulfillment of regulatory requirements, the General Distributor
shall provide such information, cooperation and assistance as may be from time to time requested by Haoqing in connection with the business-of distribution of Contract Products and any vehicle homologation and
related issues. 

  

	10.	 ORDERS, PRICING AND PAYMENT 

 

	10.1	 Orders 

  

	10.1.1	 General Distributor shall place orders for Contract Products through any system and in accordance with any
procedures that Haoqing may require or implement from time to time. All orders will be subject to terms and conditions valid at the time of the order. In the event of any conflict, the provisions of this Agreement prevail over the terms and
conditions. 

  

	10.2	 Pricing and payment 

 

	10.2.1	 Haoqing and General Distributor shall agree on the setting of the Transfer Prices for the Contract Goods.
General Distributor shall fully compensate the full cost-of the contract products, inclusive but not limited: manufacturing cost, administration expense, indirect expense, consumption tax and all other
expenses that maybe applicable. 

  

	10.2.2	 All invoices under this Agreement should be paid in CNY unless otherwise agreed between the Parties in writing.
 

  

	10.2.3	 All amounts referred to in this Service Agreement are exclusive of VAT and surtaxes but inclusive of
withholding tax applicable in accordance with local legislation 

  

	10.2.4	 Any amount invoiced under this Agreement shall be paid within 30 days after the invoice date.

  

	10.2.5	 Payment made later than the due date will automatically be subject to interest for late payments for each day
it is not paid and the interest shall be based the equivalent to one- year lending rate published by PBOC in China. 

  

	11.	 RELATIONSHIP BETWEEN THE PARTIES 

 

	11.1	 The Parties are acting as independent Service Providers when performing each Party’s respective
obligations under this General Distributor Agreement. Neither Party nor its Affiliates are agents for the other Party or its Affiliates and have no authority to represent them in relation to any matters. Nothing in this General Distributor Agreement
shall be construed as to constitute a partnership or joint venture between the Parties. 

  

	12.	 OWNERSHIP INTELLECTUAL PROPERTY/INTANGIBLES 

 

	12.1	 The Parties agree that this Agreement does not grant or convey to the other Party any ownership or economic
interest in any IP belonging to the other Party and each Party remains the sole and exclusive owner of its IP. 

  

	12.2	 Except as otherwise agreed by the parties, nothing in this Agreement shall be deemed to constitute an
assignment of, or license to use, any Trademarks of the other Party. 

	13.	 LIMITATION OF LIABILITY 

 

	13.1	 Except as otherwise provided in this Agreement, either Party’s liability is limited to typical damage
foreseeable at the time of breach of this Agreement. 

  

	13.2	 Nothing in this Agreement, expressed or implied, is intended to give to any person other than the Parties any
right, remedy or claim under or by reason of this Agreement. All covenants, stipulations, promises or agreements in this Agreement shall be for the sole and exclusive benefit of the Parties. 

 

	14.	 PRODUCT LIABILITY 

 

	14.1	 Product liability relating to Contract Products shall be allocated between the Parties in accordance with
applicable laws. In principle, product liability arising from manufacturing defects due to Haoqing will be borne by Haoqing, whereas product liability arising from design defects due to General Distributor or any other party shall be borne by
responsible party. 

  

	15.	 FORCE MAJEURE 

 

	15.1	 Neither Party shall be liable for any failure or delay in performing its obligations under this Agreement to
the extent that such failure or delay is caused by a Force Majeure Event. A “Force Majeure Event” means any event beyond a Party’s reasonable control, which by its nature could not have been foreseen, or, if it could have been
foreseen, was unavoidable, including strikes, lock-outs or other industrial disputes (whether involving its own workforce or a Third Party’s), failure of energy sources or transport network, restrictions concerning motive force, acts of war,
terrorism, insurgencies and riots, civil commotion, mobilization or extensive call ups, interference by civil or military authorities, national or international calamity, currency restrictions, requisitions, confiscation, armed conflict, malicious
damage, breakdown of plant or machinery, nuclear, chemical or biological contamination, sonic boom, explosions, collapse of building structures, fires, floods, storms, stroke of lightning, earthquakes, loss at sea, epidemics or similar events,
natural disasters or extreme adverse weather conditions, or default or delays of suppliers or sub-Service Providers. 

  

	15.2	 A non-performing Party, which claims there is a Force Majeure Event,
and cannot perform its obligations under the Agreement as a consequence thereof, shall use all commercially reasonable efforts to continue to perform or to mitigate the impact of its nonperformance notwithstanding the Force Majeure Event and shall
continue the performance of its obligations as soon as the Force Majeure Event ceases to exist. 

  

	16.	 REPRESENTATION AND WARRANT 

 

	16.1	 General Distributor represents and warrants that: 

 

	 	d.	 it is duly organized, validly existing and in good standing under applicable laws, and has and will always have
full authority and all permits, authorizations and licenses necessary or advisable to enter into or perform its obligations under this Agreement; and 

  

	 	e.	 the individuals or entities listed in Appendix 2, under the heading “Ownership Interests”, own all of
General Distributor’s voting securities or other ownership interests in the percentages shown in Appendix 2. 

	17.	 TERM AND TERMINATION 

 

	17.1	 This Agreement will become effective on the date stated in paragraph 3.1 of this Agreement and shall remain in
force until terminated in accordance with this section 17. 

  

	17.2	 This Agreement may be terminated only in two years’ intervals by giving two months notice with effect as
per December 31 of any subsequent second year. If no termination notice is given, this Agreement shall continue to be valid for another two years. 

  

	17.3	 Either Party may terminate this Agreement by notice to the other Party with immediate effect for good cause.
Good cause exists in the events expressly set forth in this Agreement or if: 

  

	 	a.	 a Party is in breach of an obligation under this Agreement despite having been given due warning by the other
Party and despite having had sufficient opportunity and time to remedy that breach. 

  

	 	b.	 a Party is in breach of any representations or warranties expressly set forth in this Agreement;

  

	 	c.	 voluntary or involuntary proceedings are filed by or against a Party under bankruptcy or insolvency laws or
under laws for arrangement, composition, judicial management, liquidation, dissolution, receivership or similar procedures, or either Party seeks or consents to similar relief or remedies without proceedings and, in the case of involuntary
proceedings, they are not dismissed within forty-five days; 

  

	 	d.	 a Force Majeure Event prevents a Party from performing its obligations under this Agreement for more than one
hundred and eighty days and such failure to perform is continuing when notice of termination is given; 

  

	17.4	 Either Party shall notify the other Party immediately, if any event entitling the other Party to terminate this
Agreement occurs. 

  

	18.	 RIGHTS AND OBLIGATIONS ON TERMINATION 

 

	18.1	 Upon this Agreement’s termination: 

 

	 	a.	 General Distributor shall immediately stop presenting itself as an authorized general distributor of Haoqing.

  

	 	b.	 General Distributor’s unfilled orders are automatically canceled, unless payment has been made before
effectiveness of termination or unless Haoqing specifies otherwise. 

  

	 	c.	 All amounts owed by either Party to the other will be immediately due and payable without need for notice,
other formality or court order. 

  

	 	d.	 Haoqing shall repurchase from General Distributor, if so requested by General Distributor in writing within a
reasonable period, however not later than six months after termination of this Agreement, all Parts delivered by Haoqing to General Distributor. 

	19.	 PRIOR AGREEMENTS, ASSIGNMENT 

 

	19.1	 This Agreement constitutes the Parties’ entire agreement for selling and servicing Contract Goods in the
Contract Territory. It supersedes all prior negotiations, understandings and agreements, written or oral, relating to its subject matter. Any modification or supplement to or extension of this Agreement must be in writing and signed by authorized
officers or representatives of both Parties. 

  

	19.2	 Neither Party may assign this Agreement or any of their rights or obligations without or in violation of the
terms of the other’s prior consent, and unless the consent states otherwise the assigning Party will remain legally obligated, jointly and severally, with its assignee for the performance of this Agreement. In the event of any breach of this
Clause by either Party, the other Party may terminate this Agreement in accordance with Article 14.2. 

  

	20.	 CONFIDENTIAL INFORMATION 

 

	20.1	 General Distributor and its Authorized Dealers, and their respective officers, employees and agents, shall keep
confidential all non-public business or technical information relating to Haoqing, any Haoqing Group Company or any of their respective suppliers or customers of which it becomes aware in connection with this
Agreement. 

  

	20.2	 Haoqing will treat as confidential all non-public information
concerning General Distributor which is obtained under this Agreement and will not disclose such information to third parties, other than Haoqing’s professional advisors and Haoqing Group Companies. This confidentiality obligation, however,
will not apply to: 

  

	 	a.	 information that is known to Haoqing at the time of disclosure; 

 

	 	b.	 information that is or becomes available in the public domain through no fault of Haoqing;

  

	 	c.	 information that is or becomes available to Haoqing from any third party who was not in breach of any
confidentiality obligation to General Distributor or of whose breach of any confidentiality obligation to Genera] Distributor Haoqing was not aware; or 

  

	 	d.	 information that Haoqing is required to disclose by law or court or governmental order or request from
regulatory authorities. 

  

	21.	 PHOTOCOPIES 

  

	21.1	 This Agreement was negotiated and concluded in the English and Chinese language, and the Chinese text of this
Agreement will be controlling in all events. 

  

	21.2	 In the event of any discrepancy or conflict between the terms of this Agreement and the terms of any Appendix
hereto or any document referred to in any Appendix hereto, the terms of this Agreement shall prevail. 

  

	22.	 SEVERABILITY 

  

	22.1	 If a court, arbitral tribunal or government authority having jurisdiction declares invalid or unenforceable any
provision of this Agreement, this Agreement will be considered divisible as to that provision, and that provision will be deemed deleted from this Agreement or to be inapplicable, and the remainder of this Agreement will be valid and binding as if
that provision were not included herein or as if it were included herein only with respect to those parts of the Contract Territory, if any, where that provision is not invalid or unenforceable. 

	23.	 NOTICES 

  

	23.1	 All notices, consents and approvals (hereinafter referred to as a “Notice”) permitted or required to
be given hereunder shall only be deemed to be sufficiently and duly given if written and delivered personally or sent by courier or transmitted by electronic mail transmission (e-mail) or other form of
recorded communication tested prior to transmission, addressed as follows: 

 To Haoqing: 

Zhejiang Haoqing Automobile Manufacturing Co., Ltd. Chengdu Branch 

Att: Managing Director 
 1367
Wenbai Avenue, 366, 
 368 Checheng East 7 road 

Economic development zone (Lognquanyi) District 

Chengdu 
 People’s Republic
of China 
 To the General Distributor: 

Polestar Automotive China Distribution Co. Ltd 

Attention: [***] 
 18 Xingguang
Mid. Rd. 
 Economic-Technology Development (Longquanyi) Dist. 

Chengdu, Sichuan 
 China 

Email: [***] 
 With a copy not
constituting notice to: 
 Polestar Automotive China Distribution Co. Ltd 

Attention: Legal Department 

Email: legal@polestar.com 
  

	23.2	 Any notices so given shall be deemed to have been received on the date of delivery if sent by courier, e-mail or other form of recorded communication, as the case may be. Either Party may from time to time by Notice change its address for the purposes of this General Distributor Agreement. 

 

	24.	 GOVERNING LAW AND DISPUTE RESOLUTION 

 

	24.1	 This Agreement is made in and will be construed and governed in all respects in accordance with the laws of
P.R. China. 

  

	24.2	 All disputes, controversies or claims arising from the interpretation, performance or nonperformance of this
Agreement or any and all transactions related to this Agreement (including, but not limited to, the validity, scope and enforceability of this provision, or disputes under rights granted pursuant to law) shall be finally and completely settled by
arbitration under and in accordance with China International Economic and Trade Arbitration Commission (“CIETAC”) Rules by three arbitrators. The place of arbitration shall be Shanghai. The language of the arbitration proceedings shall be
English and Chinese. The written arbitration award shall be final and binding and shall contain reasons and award costs. 

	25.	 CONCLUDING PROVISIONS 

 

	25.1	 This Agreement has been prepared in two copies with the same wording, one copy for each Party.

 IN WITNESS WHEREOF, this General Distributor Agreement has been signed in two (2) originals, of which the Parties have
received one (1) each. 
 SIGNED for and on behalf of 

HAOQING 
  

									
					
	/s/ (seal)	 		  	 	  		  	 
	Signature	 		  	Printed Name (Title)	  		  	Date
					
	 	 		  	 	  		  	 
	Signature	 		  	Printed Name (Title)	  		  	Date

 SIGNED for and on behalf of General Distributor 

 

									
					
	/s/ (seal)	 		  	 	  		  	 
	Signature	 		  	Printed Name (Title)	  		  	Date
					
	 	 		  	 	  		  	 
	Signature	 		  	Printed Name (Title)	  		  	Date

 APPENDIX 1 

Contract Products 
  

	 	•	 	 Polestar 1 [***] 

 APPENDIX 2 

Ownership Interests 
 Polestar Automotive Shanghai Co.,
Ltd.

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