Document:

EX-10.65

 Exhibit 10.65 

Agreement No.: GEE21-011 
  

 
 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. 

 
  

TECHNOLOGY LICENSE AGREEMENT 
  

 
 ZHEJIANG ZEEKR
AUTOMOBILE RESEARCH AND DEVELOPMENT CO., LTD, 
 and 

POLESTAR PERFORMANCE AB 
  

 
 Regarding a
license of Carry-Over Tophat Technology for the Polestar branded vehicle [***] 
  

 

  
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 Agreement No.: GEE21-011 

 
  
  

 TABLE OF CONTENTS 

 

							
	 	 	 	  	Page	 
	 1
	 	DEFINITIONS	  	 	3	 
	 2
	 	SCOPE OF THE LICENSE AGREEMENT	  	 	7	 
	 3
	 	THE TECHNOLOGY	  	 	7	 
	 4
	 	LICENSE	  	 	11	 
	 5
	 	INTELLECTUAL PROPERTY RIGHTS	  	 	12	 
	 6
	 	LICENSE FEE AND. PAYMENT TERMS	  	 	13	 
	 7
	 	WARRANTIES	  	 	14	 
	 8
	 	INDEMNIFICATION	  	 	15	 
	 9
	 	LIMITATION OF LIABILITY	  	 	15	 
	 10
	 	GOVERNANCE	  	 	16	 
	 11
	 	CONFIDENTIAL INFORMATION	  	 	17	 
	 12
	 	AUDIT	  	 	18	 
	 13
	 	TERM AND TERMINATION	  	 	19	 
	 14
	 	MISCELLANEOUS	  	 	19	 
	 15
	 	GOVERNING LAW	  	 	22	 
	 16
	 	DISPUTE RESOLUTION	  	 	22	 

 APPENDIXES 
  

	1.	 APPENDIX 1 SPECIFICATION 

 

	2.	 APPENDIX 2 LICENSE FEE 

 

	3.	 APPENDIX 3 DELIVERY PLAN 

 

	4.	 APPENDIX 4 CHANGE MANAGEMENT PROCESS 

  
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 Agreement No.: GEE21-011 

 
  
  

 This TECHNOLOGY LICENSE AGREEMENT (this “License Agreement”) is dated
December 30, 2021 and made between: 
  

	(1)	 ZHEJIANG ZEEKR AUTOMOBILE RESEARCH AND DEVELOPMENT CO., LTD, Reg. No. 91330206MA7BGT1K6K, a limited
liability company incorporated under the laws of the People’s Republic of China (“Licensor”); and 

  

	(2)	 POLESTAR PERFORMANCE AB, Reg. No. 556653-3096, a limited liability company incorporated under the
laws of Sweden (“Licensee”). 

 Each of Licensor and Licensee is hereinafter referred to as a
“Party” and jointly as the “Parties”. 
 BACKGROUND 

 

	A.	 Licensor is engaged in the development and commercialization of automobile technologies. 

 

	B.	 Licensee is engaged in the development, manufacturing and sale of Polestar branded high-end electric performance vehicles. 

 Licensee is now planning to develop,
manufacture and sell a Polestar branded car with the internal project name [***] (the “Polestar Vehicle”) which will contain certain Intellectual Property Rights (as defined in Section 1 below) owned by the Licensor. 

 

	D.	 Thus, the Parties have determined that Licensor shall grant licensee certain rights to use the Licensed
Intellectual Property (as defined in Section 1 below) in accordance with the terms in this License Agreement. 

  

	E.	 The base assumption has been that the Polestar Vehicle will use certain technology from the Licensor. Before
entering into this License Agreement, the Parties have therefore jointly discussed and specified the Technology (defined in Section 1 below). 

  

	F.	 The Parties acknowledge that the Technology vests with or is licensable by the Licensor However, the Parties
have agreed, that the Licensor, subject to the due payment of the License Fee (as defined below), will grant the Licensee the right to use the Licensed Intellectual Property for certain purposes as further detailed herein. 

 

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

 

	1	 DEFINITIONS 

For the purpose of this License Agreement, the following terms shall have the meanings assigned to them below. All capitalized terms in
singular in the list of definitions shall have the same meaning in plural and vice versa. Any capitalized terms used, but not specifically defined below in this Section 1, shall have the meaning ascribed to them in the License Agreement.

  
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 “Acceptance” is defined in Section 3.2.4. 

“Acknowledged Person” means any workshop appointed by Polestar and included in the Volvo Cars’ network of
authorized workshops or any other person mutually approved by the Licensee and Licensor. 
 “Agreed Delivery Date”
means the date of delivery according to the agreed delivery plan set forth in Appendix 3. 
 “Appendix” means an
appendix to this License Agreement. 
 “Affiliate” means 

 

	 	(a)	 for Licensor, any legal entity that, directly or indirectly, controls, is controlled by or is under common
control with Zhejiang Zeekr Automobile Research and Development Co., Ltd, however excluding Licensee and its Affiliates within the Polestar group; and 

  

	 	(b)	 for Licensee, any legal entity that, directly or indirectly, controls, is controlled by or is under common
control with Polestar Performance AB however excluding Licensor and its Affiliates not in the Polestar group. 

“control” for this purpose meaning 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 similar governing body of an entity, or (b) to cause the direction of the
management of an entity. 
 “Carry-Over Tophat Technology” means the DC1E Tophat Technology specified in Appendix I.

 “Change Management Process” means the process of change management in Appendix 4 for changes and development of
the Licensed Intellectual Property that occurs after Job1 + 90 days. For Updates and Upgrades, the Change Management Process will apply as of OKtB+90 days. 

“Confidential Information” means any and all non-public information regarding
the Parties and their respective businesses, whether commercial or technical, in whatever form or media, including but not limited to the existence, content and subject matter of this License Agreement, information relating toy Intellectual Property
Rights, concepts, technologies, processes, commercial figures, techniques, algorithms, formulas, methodologies, know-how, strategic plans and budgets, investments, customers and sales, designs, graphics, CAD
models, CAE data, statement of works (including engineering 

  
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statement of works and any high level specification), targets, test plans/reports, technical performance data and engineering sign-off documents and other
information of a sensitive nature, that a Party learns from or about the other Party prior to or after the execution of this License Agreement. 

“Data Room” means the information sharing platform agreed to be used between the Parties for making available the
Licensed Intellectual Property to the Licensee. 
 “Delivery Check” is defined in Section 3./3. 

“Disclosing Party” means the Party disclosing Confidential Information to the Receiving Party. 

“EOP” means the date on which the production of the Polestar Vehicle covered by this License Agreement ends according
to Appendix 1. 
 “Force Majeure Event” is defined in Section 14.1.1. 

“Have Made” means the right of the Licensee, as applicable, to have Acknowledged Person make for the Licensee and does
not include the right to grant sublicenses to another person to make for such person’s own use or use other than for Licensee. 

“Job1” means the date on which the production of the Polestar Vehicle covered by this License Agreement starts. 

“Job1+90” means the date ninety (90) days after Job 1. 

“License Fee” is defined in Section 6. 

“Indemnitees” is defined in Section 8. 

“Industry Standard” means the exercise of such professionalism, skill, diligence, prudence and foresight that would
normally be expected at any given time from a skilled and experienced actor engaged in a similar type of undertaking as under this License Agreement. 

“Intellectual Property Rights” / “IP” means Patents,
Non-patented IP and rights in Confidential Information to the extent protected under applicable laws anywhere in the world and know-how. For the avoidance of doubt,
Trademarks, source code and object code, except for the software content explicitly specified in Appendix 1, are not included by this definition. 

“License” is defined in Section 4.1.1. 

“License Agreement” means this License Agreement including all of its Appendices as amended from time to time. 

  
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 “Licensed Intellectual Property” means the Intellectual Property
Rights relating to the Technology. The Licensed Intellectual Property includes Updates and Upgrades thereto performed by the Licensor until and including the year [***]. 

“Mechanical Platform and Hardware Technology” means the mechanical platform and hardware technology specified in
Appendix 1. 
 “Modifications” shall mean all modifications, enhancements and improvements, or change of any kind to,
and derivative works of the Technology that are unique requested by the Licensee (excluding, for the avoidance of doubt, any Upgrades and Updates). 

“New Technology” means changes other than Updates and Upgrades, including 1) any new generation of the Technology which
is developed after the signing of this License Agreement (from concept to finished product) and which is not possible to achieve with current Technology; and 2) any new modules, parts, functionalities added to the Carry-Over Tophat Technology after
signing of this License Agreement which are outside of the scope of the technical specification as defined in Appendix 1. 

“OKtB” means the date when delivery of the Polestar Vehicle to external customers starts. 

“OKtB+90” means the date ninety (90) days after OKtB. 

“Polestar Vehicle” has the meaning set out in background C. 

“Non patented IP” means copyrights (including rights in computer software), database rights, semiconductor topography
rights, rights in designs, and other Intellectual Property Rights (other than Trademarks and Patents) and all rights or forms of protection having equivalent or similar effect anywhere in the world, in each case whether registered or unregistered,
and registered includes registrations, applications for registration and renewals whether made before, on or after execution of this License Agreement. 

“Patents” means utility models, industrial designs and all patents (including, without limitation, patents of
importation, patents of confirmation, patents of improvement, design patents, certificates of addition and utility patents, as well as divisions, reissues, continuations,
continuations-in-part, re-examination certificates, provisional applications, renewals and extensions of any of the foregoing,
and applications therefor). 
 “Receiving Party” means the Party receiving Confidential Information from the
Disclosing Party. 
 “Steering Committee” is defined in Section 10.3. 

“Strategic Board” is defined in Section 10.4. 

“Technology” means the Carry-Over Tophat Technology. 

  
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 “Term” is defined in Section 13. 

“Territory” means all countries in the world except the People’s Republic of China, but including Hong Kong
Special Administrative Region. 
 “Third Party” means a party other than any of the Parties and Affiliates of the
Parties to this License Agreement. 
 “Trademarks” 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. 
 “Update”
is defined in Section 3.3.2 
 “Upgrade” is defined in Section 3.3.3. 

”Use” means to make, Have Made, keep, install, integrate, extract, assemble, reproduce, incorporate, service or repair,
including in the case of installation, integration, assembly, service or repair, the right to have an Acknowledged Person carry out any of these activities on behalf of the Licensee. 

 

	2	 SCOPE OF THE LICENSE AGREEMENT 

 

	2.1	 General 

  

	2.1.1	 The Appendices shall be considered integral parts of this License Agreement and any reference to the License
Agreement shall include the Appendices. 

  

	2.1.2	 In the event where there are any contradictions or inconsistencies between the terms of the main body text of
this License Agreement and the Appendices hereto, the terms and conditions of the main body text shall prevail. 

  

	3	 THE TECHNOLOGY 

 

	3.1	 General 

  

	3.1.1	 The License Agreement shall govern the Licensor’s License of the Technology to the Licensee for the
Polestar Vehicle. The Licensor shall provide the Technology to the Licensee in a seamless, reliable and professional manner and in accordance with the Industry Standards. 

  
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	3.1.2	 A mutually agreed specification for the Technology setting forth the deliverables of the Licensor under this
License Agreement is set out in Appendix 1. The technical functions are defined in Appendix 1 in accordance with the Parties’ best understanding when entering into this License Agreement. A final specification of the deliverables shall, subject
to good faith and joint discussions between the Parties, be made at Job190 as a part of the Final Status Report (“ESA”). All of the aforementioned specifications shall be considered an integral part of Appendix I and
consequently also of this License Agreement. For the avoidance of doubt, New Technology shall not be included in the License. 

  

	3.2	 Making available the Technology 

 

	3.2.1	 Licensor shall make the Technology available to Licensee at the latest at the Agreed Delivery Date. The
Technology shall only be made available in a Data Room. 

  

	3.2.2	 The Technology shall be deemed made available by Licensor to Licensee if all deliverables specified in Appendix
1 have been electronically loaded into and made accessible to Licensee by Licensor in the Data Room (“Delivery”). 

  

	3.2.3	 The Licensee shall be entitled to perform a delivery check on the deliverables in the Data Room to verify
compliance with Appendix 1 (“Delivery Check”). 

  

	3.2.4	 The Licensee shall inform the Licensor of the result of the Delivery Check within thirty (30) days after
the Technology has been made available pursuant to Section 3.2.1 and Section 3.2.2, and specify any omission in a written report. Acceptance shall be deemed to have been given either if the Licensee in writing has approved the delivery of
the Technology or if notice is not given by the Licensee within the time set forth in this Section 3.2.4 (“Acceptance”). In the event of any such omission, the Licensor shall within thirty (30) days remedy such omission,
where after a new Delivery Check in accordance with the above may be conducted. For the avoidance of doubt, an Acceptance shall not limit Licensor’s obligations under this License Agreement. 

 

	3.2.5	 The Licensor will be in delay in the event the actual delivery date occurs after the Agreed Delivery Date
provided this is not due to the Licensee’s failure to comply with its obligations hereunder. 

  

	3.2.6	 If the Licensor finds that it will not be able to deliver the Technology at the Agreed Delivery Date or if
delay on its part seems likely, the Licensor shall inform the Licensee of the reasons for and consequences of not meeting the Agreed Delivery Date and shall at its own cost (unless the delay is caused by the Licensee in which case the cost shall be
borne by the Licensee) take all steps reasonably necessary, including providing additional resources, to ensure that the requirements are met as soon as possible. 

 

	3.3	 Updates and Upgrades 

 

	3.3.1	 The Licensor or its Affiliates undertakes to, at their sole discretion, continuously during the Term and
thereafter, conduct Update and Upgrade of the Technology or any part thereof. 

  
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	3.3.2	 “Update” means any change of a corrective nature to such Technology conducted by the Licensor,
relating only to the following: 

  

	 	(i)	 resolution of software bugs in the platform software; 

 

	 	(ii)	 resolution of identified engineering issues of the Carry-Over Tophat Technology 

 

	 	(iii)	 re-call driven software or hardware items. 

 

	3.3.3	 “Upgrade” means any change of an improvement nature to such Technology conducted by the
Licensor relating only to the following: 

  

	 	(i)	 cost reduction ideas (through re-design, deletion or addition of parts)
as flow through to that benefits the platform material cost (BoM), 

  

	 	(ii)	 process ideas as flow through that benefits the overall capital cost level, 

 

	 	(iii)	 product enhancement ideas increasing customer value and 

 

	 	(iv)	 redesign in order to fulfill legal or regulatory requirements. 

 

	3.3.4	 Updates and Upgrades implemented by the Licensor until and including the year [***] shall be included in the
License Fee. 

  

	3.3.5	 Updates and Upgrades implemented by the Licensor as of the year [***] (including [***]) are not covered by the
License and shall be subject to the Change Management Process and paid for separately by the Licensee. For the avoidance of doubt such Upgrades and Updates is not governed by this License Agreement but shall be subject to a separate change
management agreement between the Parties. 

  

	3.3.6	 Procedure for the provision of Updates and Upgrades 

 

	 	3.3.6.1	 In excess of what is stated in this Section 3.3A, the. Change Management Process mutually agreed between
the Parties and further described in Section 3.4 shall apply also for reviewing the need for and implementation of Updates and Upgrades conducted until and including the year [***]. 

 

	 	3.3.6.2	 The Licensor will use its best efforts to keep the Licensee continuously informed and share information as soon
as reasonably possible in advance of the planned implementation of any Update or Upgrade conducted until and including the year [***] that may materially affect or alter the Technology, leaving reasonable period of time for the Licensee to decide on
whether such Update or Upgrade, planned by the Licensor, should be used in the Polestar Vehicle. 

  
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	 	3.3.6.3	 For each Upgrade conducted until and including the year [***], the Licensor shall provide the Licensee a
specification of the Upgrade prior to executing the Upgrade. 

  

	 	3.3.6.4	 The Licensor shall make the Updates and Upgrades conducted until and including the year [***] available to the
Licensee as soon as reasonably possible after such Updates and Upgrades are completed by the Licensor, provided the Licensee decides to use such Updates and Upgrades will be used in the Polestar Vehicle pursuant to Section 3.3.6.2.

  

	 	3.3.6.5	 For the avoidance of doubt the Parties acknowledge that, with respect to Updates and Upgrades until and
including the year [***], the Licensor will be entitled to make Updates and Upgrades to the Technology as long as the specification in Appendix 1 is met. The Parties undertake to act in good faith and to agree on the consequences of any such Updates
and Upgrades conducted until and including the year [***] for the Licensee. If the Parties cannot agree on such suggested Updates and Upgrades of Technology, Licensor shall still be entitled to carry out said Updates and Upgrades and the result
thereof shall be owned by Licensor. In this event Licensee may stay with the original Technology or chose to develop a unique solution at Licensee’s cost and expense. If such unique solution is based on the Technology an approval according to
Section 4.1.1 (d) shall be required. For the avoidance of doubt, the Licensor’s rights to develop Updates and Upgrades after and including the year [***] and New Technology shall not be restricted by this Section 3.3.6.5.

  

	3.4	 Change Management 

 

	3.4.1	 The Licensor will, upon mutually agreed terms and conditions between the Parties, perform Change Management
Process according to Appendix 4. For the avoidance of doubt, the performance of Change Management Process is not governed by this License Agreement but shall be subject to a separate change management agreement between the Parties.

  

	3.4.2	 Any Modification at any time, Updates and Upgrades conducted by the Licensor after and including the year
[***], and introduction of New Technology shall be subject to the Change Management Process. 

  

	3.4.3	 Modifications of the Technology may be performed by the Licensee subject to approval by the Licensor in
accordance with Section 4.1.1(d). 

  

	3.4.4	 Licensee shall have the right to replace part of the Technology with Polestar owned technology, which is not
based on the Technology. Such replacement should be made at Licensees cost and should not result in an adjustment of the License Fee. 

  

	3.5	 Deviation in the Technology 

In the event the Technology, or any part thereof, deviates from the requirements set forth in Appendix 1, the Licensor shall, if such deviation
is discovered within three hundred and sixty-five (365) days after Job1, remedy such deviation as soon as possible at the Licensor’s own cost. 

  
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	4	 LICENSE 

  

	4.1	 General 

  

	4.1.1	 Licensor hereby grants to Licensee a non-exclusive, irrevocable,
perpetual (however at least 50 years long (however, in no event shall such time exceed the validity period of any Intellectual Property Right contained in the Technology), fully paid-up, non-sublicensable (however sublicensable to Licensee’s Affiliates pursuant to the terms and conditions in Section 4.1.3) license to, solely in relation to the Polestar Vehicle, 

 

	 	(a)	 in all countries in the world, for the purpose of manufacturing the Polestar Vehicle, Use, in whole or in part,
the Licensed Intellectual Property; and 

  

	 	(b)	 within the Territory, sell and make available the Polestar Vehicle 

 

	 	(c)	 in all countries in the world, sell and make available spare parts and/or providing after-sale services
(including repair service) based on, incorporating or using the Licensed Intellectual Property, in whole or in part, and 

  

	 	(d)	 upon separate approval by the Licensor the Licensee should also have the right to use (including in a process,
such as use in designing, engineering, testing or assembling products or in their research or development), create derivate works of, modify, adapt, improve, enhance, and develop the Licensed Intellectual Property, (“License”).

  

	4.1.2	 Notwithstanding anything to the contrary, nothing in this License Agreement shall be construed as to

 “give Licensee any rights, including but not limited to any license rights (express or implied), to the Technology
other than those expressly stated in this License Agreement. 
  

	4.1.3	 The License granted to Licensee under this Section 4 shall be fully sublicensable to Licensee’s
Affiliates within the Polestar group, and Licensee shall procure its Affiliates to, comply with all the terms and conditions of this License Agreement. But the License shall not be sublicensable by Licensee to any Third Party without prior written
approval from Licensor. The Licensor hereby agrees that the License granted to Licensee is sublicensable to Ningbo Geely Automobile Research & Development Co. Ltd., for the purpose of developing the Polestar Vehicle. 

 

	4.1.4	 The Licensee may have an option to a license in relation to the Technology on other Polestar branded vehicles
subject to a separate agreement(s) to be agreed on an at arms’ length basis between the Parties. 

  
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	4.1.5	 For the avoidance of doubt, any Update and Upgrade of the Technology conducted by the Licensor until and
including the year [***] shall automatically be included in the License granted in this Section 4. 

  

	5	 INTELLECTUAL PROPERTY RIGHTS 

 

	5.1	 Ownership 

  

	5.1.1	 Each Party remains the sole and exclusive owner of (i) any Intellectual Property Rights owned, developed
or otherwise acquired by such Party prior to the execution of this License Agreement, (ii) any Intellectual Property Rights developed or otherwise acquired independently of this License Agreement but during the Term of this License Agreement,
and (iii) any Intellectual Property Rights which are modifications, amendments or derivatives of any Intellectual Property Rights already owned, developed or otherwise acquired by such Party pursuant to the aforementioned two categories.

  

	5.1.2	 Nothing in this License Agreement shall be deemed to constitute an assignment of, or license to use, any
Trademarks of either of the Parties. 

  

	5.1.3	 Nothing in this License Agreement shall be deemed an assignment of ownership of the Technology and Licensed
Intellectual Property from Licensor or any relevant party to Licensee. 

  

	5.2	 Suspected infringement 

 

	5.2.1	 The Licensee shall promptly (upon becoming aware) notify the Licensor in writing of: 

 

	 	(a)	 any conduct of a Third Party that the Party reasonably believes to be, or reasonably believes to be likely to
be, an infringement, misappropriation or other violation of the Licensed Intellectual Property by a Third Person; or 

  

	 	(b)	 any allegations made to Licensee by a Third Party that any Intellectual Property Rights licensed hereunder are
invalid, subject to cancellation, unenforceable, or is a misappropriation of any Intellectual Property Rights of a Third Party. 

  

	5.2.2	 In the event that the Licensee has provided the Licensor with a notification in writing pursuant to
Section 5.2.1 above, and Licensor decides not to take any action against the Third Party, Licensor may approve in writing that Licensee shall be entitled to itself take action against the Third Party at the Licensee’s own cost. If Licensor
approves, it shall provide reasonable assistance to Licensee, as requested by Licensee at Licensee’s expense. 

 If
Licensor does not approve Licensee taking such action, the issue should be escalated to the Strategic Board for decision. 

  
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	5.3	 Zeekr brand name 

 

	5.3.1	 For sake of clarity, it is especially noted that this License Agreement does not include any right to use the
“Zeekr” brand name or Trademarks of the Licensor and its Affiliates, or to refer to “Zeekr” in communications or official documents of whatever kind. 

 

	5.3.2	 This means that this License Agreement does not confer upon the Licensee any rights to directly or indirectly
use the Zeekr” brand name or “Zeekr” Trademarks, on or for any products or when marketing, promoting and/or selling such products, or in any other contacts with Third Parties, e.g. in presentations, business cards and correspondence.
Any such use of “Zeekr” name and “Zeekr” Trademarks. shall be subject to the consent of relevant right owner. 

  

	5.4	 Polestar brand name 

 

	5.4.1	 Correspondingly, it is especially noted that this License Agreement does not include any right to use the
“Polestar” brand name, or Licensee and its Affiliates’ Trademarks, or refer to “Polestar” in communications or official documents of whatever kind. The Parties acknowledge that the “Polestar” Trademarks as well as
the “Polestar” name is owned by Polestar Holding AB and that the right to use the name and the “Polestar” Trademarks is subject to a license agreement, which stipulates that
the name, ‘Polestar” Trademarks and all thereto related intellectual property rights can only be used by Polestar Performance AB and its Affiliates in relation to Polestar products. 

 

	5.4.2	 This means that this License Agreement does not include any rights to directly or indirectly use the
“Polestar” brand name or “Polestar” Trademarks, on or for any products or when marketing, promoting and/or selling such products, or in any other contacts with Third Parties, e.g. in presentations, business cards and
correspondence 

  

	6	 LICENSE FEE AND. PAYMENT TERMS 

 

	6.1	 In consideration of Licensor’s performance of its obligations under this License Agreement and the License
granted from Licensor to Licensee hereunder the Licensee agrees to pay to Licensor the license fee calculated in accordance with what is set forth Appendix 2 (“License Fee”) by bank transfer. 

 

	6.2	 The License fee shall be invoiced monthly within fifteen (15) days after receiving the report of the Net
Revenue from the Licensee as stated in Appendix 2, Section 2.5. 

  

	6.3	 The License fee shall be invoiced in RMB and paid by the Licensee to the. Licensor in forty-five (45) days
upon issue date of the invoice. 

  

	6.4	 All amounts referred to in this License. Agreement are exclusive of VAT and any other taxes, for example
withholding tax and surcharges. The. Licensee’ shall bear the VAT and the Licensor shall bear the withholding tax and surcharges. Each party shall bear its own stamp duty payable in their respective jurisdiction that are applicable in
accordance with local legislation to all amounts referred to in this License Agreement. Any amount invoiced by the Licensor to the Licensee shall be without Chinese VAT. The Licensee shall promptly provide the Licensor with all material and evidence
of tax withheld. 

  
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	6.5	 Payment made later than the due date under Section 6.3 shall automatically be subject to interest for late
payments for each day it is not paid and the interest shall be based on the one-month applicable interbank rate, depending on invoice and currency, with an addition of two per cent (2.0%) per annum.

  

	6.6	 Notwithstanding anything to the contrary in this License Agreement, any portion of the License Fee shall be non-refundable. 

  

	7	 WARRANTIES 

  

	7.1	 Each Party warrants and represents to the other Party that: 

 

	 	(a)	 it is duly organized, validly existing, and in good standing under the laws of its respective jurisdiction of
incorporation or formation, as applicable; 

  

	 	(b)	 it has full corporate power and authority to execute and deliver this License Agreement and to perform its
obligations hereunder; 

  

	 	(c)	 if any of the Licensed Intellectual Property is software: (i) it does not contain any program routine,
device, code or instructions (including any code or instructions provided by Third Parties) or other undisclosed feature, including a time bomb, virus, software lock, drop-dead device, malicious logic, worm, Trojan horse, bug, error, defect or trap
door, that is capable of accessing, modifying, deleting, damaging, disabling, deactivating, interfering with, or otherwise harming such software, any hardware, data or other electronically stored information, or computer programs or systems; and
(ii) except as otherwise identified to Licensee in Appendix 1, such software does not contain any open source material (including any libraries or software licensed under the GNU General Public License, the GNU GPL family of licenses (e.g.,
Affero GPL, LGPL, etc.), the Eclipse License or any other similar “public,” “open source” or “free” software license agreement or arrangement) obligating Licensee to disclose or make
Licensee’s source or object code available to any Third Party; 

  

	 	(d)	 the execution, delivery and performance of this. License Agreement have been duly authorized and approved, with
such authorization and approval in full force and effect, and do not and will not (i) violate any laws or regulations applicable to it or (ii) violate its organization documents or any agreement to which it is a party; and

  

	 	(e)	 this License Agreement is a legal and binding obligation of it, enforceable against it in accordance with its
terms. 

  
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	7.2	 The Licensor hereby warrants to the Licensee that the Licensor, as of the date of this License Agreement, owns
or has the right to license the Licensed Intellectual Property pursuant to the terms of this License Agreement. 

  

	7.3	 The foregoing warranties in this Section 7 are in lieu of all other warranties, whether implied or
express, and in particular any warranties of suitability, merchantability, description, design and fitness for a particular purpose, completeness, systems integration and accuracy are expressly excluded to the maximum extent permissible by law.

  

	8	 INDEMNIFICATION 

Subject to Section 9, the Licensor hereby agrees that the Licensee, its Affiliates, and its officers, managers, directors, investors,
employees, and agents (together, the “Indemnitees”) shall be indemnified by such Party for any liability, loss, cost, damages or reasonably incurred expenses (including attorneys’ fees) caused by, or originating from,
any claim by any Third Party that any Licensed Intellectual Property Rights under this License Agreement, infringes the Intellectual Property Rights of the Third Party in the Territory, provided that (a) such claim is supported by a final non-appealable judgment of a competent court or a final verdict of a competent arbitration forum; or (b) in the case of a settlement between the Licensee and such Third Party, the said settlement has been
approved by the Licensor. The aforesaid indemnification shall not apply if the infringement is caused by the Licensee using the Technology in a manner not in compliance with the terms and conditions of this License Agreement. 

 

	9	 LIMITATION OF LIABILITY 

 

	9.1	 The Parties shall only be liable for direct damages and losses under this License Agreement and neither Party
shall be responsible for any indirect, incidental or consequential damages or any losses of production or profit caused by it under this License Agreement. 

  

	9.2	 Each Party’s aggregate liability for any direct damage arising out of or in connection with this License
Agreement shall be limited to forty per cent (40%) of the total amount of License Fee (including the Volume Deficit Compensation) payable by the Licensee to Licensor under this License Agreement and the license fee under the license agreement
between Licensor and Polestar Automotive China Distribution Co., Ltd. (the “PACD License Agreement”) numbered GEE21-015 (“Total License Fees”). Notwithstanding the preceding
sentence, in no event shall the aggregate liability of a Party under the foregoing two license agreements exceed forty per cent (40%) of the Total License Fees. Under all circumstances, the Parties acknowledge and agree that although the Licensor
has entered into two separate license agreements with Licensee and Polestar Automotive China Distribution Co., Ltd. respectively, this License Agreement and the PACD License Agreement shall be perceived as a whole in the regard of this
Section 9.2, meaning that no party shall be overcompensated or undercompensated due to the agreement structure, especially but not limited to (i) in case Polestar Automotive China Distribution Co., Ltd. has received compensation for
damages from Licensor, the Licensee shall not be entitled 

  
 15 

 Agreement No.: GEE21-011 

 
  
  

	 	
to claim damages from Licensor that includes the damages Polestar Automotive China Distribution Co., Ltd has already received compensation, for, provided that the claims of the foregoing two
damages are based on the same facts, and (ii) in case Licensor has received compensation for damages from Polestar Automotive China Distribution Co., Ltd., the Licensor shall not be entitled to claim damages from Licensee that includes the
damages Licensor has already received compensation for, provided that the claims of the foregoing two damages are based on the same facts 

  

	9.3	 The limitations of liability set forth in this Section 9 shall not apply in respect of damages

  

	 	(a)	 arising out of claims related to death or bodily injury, 

 

	 	(b)	 caused by willful misconduct or gross negligence; 

 

	 	(c)	 caused by a Party’s breach of the confidentiality undertakings in Section 11 below; or

  

	 	(d)	 arising out of an infringement, or alleged infringement, of the other Party’s Intellectual Property
Rights. 

  

	9.4	 Licensor shall have no obligation under Section 8, if the alleged infringement arises from:

 (1) Modifications as defined in Section 1 of the Technology subject to approval by the Licensor in accordance with
Section 4.1.1 (d); or 
 (2) the application, integration, connection or combination of the Licensed Intellectual Property (or any part
therein) with any objects, software, parts, components, systems, or top hats, by the Licensee or any sublicensee or subcontractor of the Licensee, provided such alleged infringement would not have occurred without the foregoing application,
integration, connection or combination by the Licensee or any sublicensee or subcontractor of the Licensee. 
  

	10	 GOVERNANCE 

  

	10.1	 The Parties shall act in good faith in all matters and shall at all times
co-operate in respect of changes to this. License Agreement as well as issues and/or disputes arising under this License Agreement. 

 

	10.2	 The governance and co-operation between the Parties in respect of this
License Agreement shall primarily be administered on an operational level. In the event the Parties on an operational level cannot agree upon the aspects relating to the co-operation between the Parties, each
Party shall be entitled to escalate such issue to the relevant governance formats described below. 

  
 16 

 Agreement No.: GEE21-011 

 
  
  

	10.3	 The first level of governance forum for handling the co-operation
between the Parties in various matters, tinder this License Agreement shall be the “Steering Committee”, which regarding cooperation between Licensor and Licensee is the so called Geely/Polestar Steering Committee in which Licensor
is a participant. The Steering Committee shall be the first level of governance forum established by the Parties for handling the cooperation between them in respect of various matters. 

 

	10.4	 The higher level of governance forum, to which an issue shall be escalated if the Steering Committee fails to
agree upon a solution shall be the “Strategic Board”, which regarding cooperation between Licensor and Licensee is the so called Executive Meeting between the CEO of Zhejiang Geely Holding. Group Co., Ltd and the CEO of the Polestar
group (currently the CEO of Polestar Automotive Holding Limited). The Strategic Board shall be the highest level of governance forum established by the Parties for handling the cooperation between them in respect of various matters.

  

	10.5	 In the event that the Parties cannot agree on a joint solution for handling disagreements or disputes, a
deadlock situation shall be deemed to have occurred and the procedure set forth in Section 16.2 Arbitration shall apply. 

  

	11	 CONFIDENTIAL INFORMATION 

 

	11.1	 The Parties shall take any and all necessary measures to comply with the security and confidentiality
procedures of the other Party. 

  

	11.2	 All Confidential Information shall only be used for the purposes comprised by the fulfilment of this License
Agreement Each Party will keep in confidence any Confidential Information obtained in relation to this. License Agreement and will not divulge the same to any Third Party, unless the exceptions specifically set forth below in this Section 11.2
below apply, in order to obtain patent protection or when approved by the other Party in writing, and with the exception of their own officers, employees, consultants or subcontractors with a need to know as to enable such personnel to perform their
duties for the purpose of fulfilment of this License Agreement. This provision will not apply to Confidential Information which the Receiving. Party can demonstrate: 

 

	 	(a)	 was in the public domain other than by breach of this undertaking, or by another confidentiality undertaking;

  

	 	(b)	 was already in the possession of the Receiving Party before s receipt from the. Disclosing Party;

  

	 	(c)	 is obtained from a Third Party who is free to divulge the same; 

 

	 	(d)	 is required to be disclosed by mandatory law, court order, lawful government action or applicable stock
exchange regulations; or 

  

	 	(e)	 is developed or created by one Party independently of the other, without any part thereof having been developed
or created with assistance or information received from the other Party. 

  
 17 

 Agreement No.: GEE21-011 

 
  
  

	11.3	 The Receiving Party shall protect the disclosed Confidential Information by using the same degree of care, but
no less than a reasonable degree of care to prevent the dissemination to Third Parties or publication of the Confidential Information as the Receiving Party uses to protect its own Confidential Information of similar nature. Further, each Party
shall ensure that its employees and consultants are bound by a similar duty of confidentiality and that any subcontractors taking part in the fulfilment of that Party’s obligations hereunder, enters into a confidentiality undertaking containing
in essence similar provisions as those set forth in this Section 11. 

  

	11.4	 Any tangible materials that disclose or embody Confidential Information should be marked by the Disclosing
Party as “Confidential,” “Proprietary- or the substantial equivalent thereof Confidential Information that is disclosed orally or visually shall be identified by the Disclosing
Party as confidential at the time of disclosure, with subsequent confirmation in writing within thirty (30) days after disclosure. However, the lack of marking or subsequent confirmation that the disclosed information shall be regarded as
“Confidential”, “Proprietary” or the substantial equivalent thereof does not disqualify the disclosed information from being classified as Confidential Information. 

 

	11.5	 If any Party violates any of its obligations described in this Section 11, the violating Party shall, upon
notification from the other Party, (i) immediately cease to proceed such harmful violation and take all actions needed to rectify said behavior and (ii) financially compensate for the harm suffered as determined by an arbitral tribunal
pursuant to Section 16 below. All legal remedies (compensatory but not punitive in nature) according to law shall apply. 

  

	11.6	 For the avoidance of doubt, this Section 11 does not permit disclosure of source code to software, and/or
any substantial parts of design documents to software, included in the Licensed Intellectual Property, to any Third Party, notwithstanding what it set forth above in this Section 11. Any such disclosure to any Third Party is permitted only if
approved in writing by the Licensor. 

  

	11.7	 This confidentiality provision shall survive the expiration or termination of this License Agreement without
limitation in time. 

  

	12	 AUDIT 

  

	12.1	 During the Term of the License Agreement, the Licensor shall have the right to, upon reasonable notice in
writing to the Licensee, inspect Licensee’s books and records, including annual accounts, to confirm a correct adherence to the License Fee model, in order to verify the License Fee paid under this License Agreement. 

 

	12.2	 Audits shall be made during regular business hours and be conducted by the Licensor, or by an independent
auditor appointed by the Licensor. Should the Licensor during any inspection find that the Licensee does not fulfil its obligations set forth in Appendix 2 with respect to the payment of License Fee, the Licensor is entitled to comment on the
identified deviations. The Licensee shall, upon notice from the. Licensor, take reasonable efforts to take the actions required in order to fulfil the requirements. In the event the Parties cannot agree upon measures to be taken in respect of the
audit, each Party shall be entitled to escalate such issue to the Steering Committee. 

  
 18 

 Agreement No.: GEE21-011 

 
  
  

	13	 TERM AND TERMINATION 

 

	13.1	 This License Agreement shall enter into force when it is signed by duly authorized signatories of each Party
and it shall remain in force and effect during the validity of the Licensed Intellectual Property included in the License granted to the Licensee hereunder (“Term”) unless terminated in accordance with this Section 13.

  

	13.2	 Either Party shall be entitled to terminate this License Agreement with immediate effect in the event:

  

	 	(a)	 the other Party commits a material breach of the terms of this License Agreement, which has not been remedied
within thirty (30) days from written notice from the other Party to remedy such breach (if capable of being remedied); or 

  

	 	(b)	 if the other Party should become insolvent or enter into negotiations on composition with its creditors or a
petition in bankruptcy should be filed by it or it should make an assignment for the benefit of its creditors. 

  

	13.3	 Notwithstanding a termination in accordance with Section 13.2 by the Licensor, the Licensee shall, on
market terms to be agreed in good faith between the Parties, have a right to manufacture, market, sell and make available spare parts incorporating or using the Licensed Intellectual Property, in whole or in part, in relation to already manufactured
Polestar Vehicles. 

  

	14	 MISCELLANEOUS 

 

	14.1	 Force majeure 

 

	14.1.1	 Neither Party shall be liable for any failure or delay in performing its obligations under the License
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, aimed
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 Licensors or subcontractors if such default or delay has been caused by one of the foregoing events. 

  
 19 

 Agreement No.: GEE21-011 

 
  
  

	14.1.2	 A non-performing Party, which claims there is a Force Majeure Event,
and cannot perform its obligations under the License 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. 

  

	14.2	 Notices 

  

	14.2.1	 All notices, demands, requests and other communications to any Party as set forth in, or in any way relating to
the subject matter of, this License Agreement must be in legible writing in the English language delivered by personal delivery, email transmission or prepaid overnight courier using an internationally recognized courier service and shall be
effective upon receipt, which shall be deemed to have occurred: 

  

	 	(a)	 in case of personal delivery, at the time and on the date of personal delivery; 

 

	 	(b)	 if sent by email transmission, at the time and date indicated on a response confirming such successful email
transmission; 

  

	 	(c)	 if delivered by courier, at the time and on the date of delivery as confirmed in the records of such courier
service; or 

  

	 	(d)	 at such time and date as delivery by personal delivery or courier is refused by the addressee upon
presentation; 

 in each case provided that if such receipt occurred on a
non-business day, then notice shall be deemed to have been received on the next following business day; and provided further that where any notice, demand, request or other communication is provided by any
party by email, such party shall also provide a copy of such notice, demand, request or other communication by using one of the other methods. 
  

	14.2.2	 All such notices, demands, requests and other communications shall be addressed to the addresses

  

			
	 To Licensor:
	  	Zhejiang Zeekr Automobile Research and Development Co., Ltd.
		  	Attention: [***]
		  	No.818, Binhai 2nd Road, Hangzhou Bay New District
		  	Hangzhou, Zhejiang Province, P.R. China
		  	China 310051
		  	Email: [***]

  
 20 

 Agreement No.: GEE21-011 

 
  
  

			
	 With a copy to:
	  	Zhejiang Geely Automobile Group Company Limited
		  	Attention: [***]
		  	1760 Jiangling Lu
		  	Binjiang District, Hangzhou City
		  	China 310051
		  	Email: [***]
		
	 To Licensee
	  	Polestar Performance AB
		  	Attention: [***]
		  	Assar Gabrielssons väg 9
		  	405 31 Göteborg
		  	Sweden
		  	Email: [***]
		
	 With a copy to:
	  	Polestar Performance AB
		  	Attention: General Counsel
		  	Assar Gabrielssons väg 9
		  	405 31 Göteborg
		  	Sweden
		  	Email: legal@polestar.com

  

	14.3	 Assignment 

  

	14.3.1	 Neither Party may, wholly or partly, assign, pledge or otherwise dispose of its rights and/or obligations under
this License Agreement without the other Party’s prior written consent. 

  

	14.3.2	 Notwithstanding the above, each Party may assign this License Agreement to an Affiliate without the prior
written consent of the other Party. 

  

	14.4	 Waiver 

Neither Party shall be deprived of any right under this License Agreement because of its failure to exercise any right under this License
Agreement or failure to notify the infringing party of a breach in connection with the License Agreement. Notwithstanding the foregoing, rules on complaints and limitation periods shall apply. 

 

	14.5	 Severability 

In the event any provision of this License Agreement is wholly or partly invalid, the validity of the License Agreement as a whole shall not be
affected and the remaining provisions of the License Agreement shall remain valid. To the extent that such invalidity materially affects a Party’s benefit from, or performance under, the License Agreement, it shall be reasonably amended. 

  
 21 

 Agreement No.: GEE21-011 

 
  
  

	14.6	 Entire agreement 

All arrangements, commitments and undertakings in connection with the subject matter of this License Agreement (whether written or oral) made
before the date of this License Agreement are superseded by this License Agreement and its Appendices. 
  

	14.7	 Amendments 

Any amendment or addition to this License Agreement must be made in writing and signed by the Parties to be valid. 

 

	14.8	 Survival 

If this License Agreement is terminated or expires pursuant to Section 13 above, Section 5.1 and
5.3-5.4 (Intellectual Property Rights), Section 11 (Confidential Information), Section 13 (Term and termination), Section 15 (Governing Law),
Section 16 (Dispute Resolution) as well as this Section 14.8, shall survive any termination or expiration and remain in force as between the Parties after such termination or expiration. 

Notwithstanding the foregoing, Section 8 (Indemnification) shall apply to Polestar Vehicles and spare parts thereof
manufactured during the term of this License Agreement, after the termination of the License Agreement. 
  

	15	 GOVERNING LAW 

This License Agreement and all non-contractual obligations in connection with this License Agreement
shall be governed by laws of PRC (excluding laws of Hong Kong, Macau and Taiwan) without giving regard to its conflict of laws principles that may result in application of law of another jurisdiction. 

 

	16	 DISPUTE RESOLUTION 

 

	16.1	 Escalation principles 

 

	16.1.1	 In case the Parties cannot agree. on a joint solution for handling disagreements or disputes, a deadlock
situation shall be deemed to have occurred and each Party shall notify the other Party hereof by the means of a deadlock notice and simultaneously send a copy of the notice to the Steering Committee. Upon the receipt of such a deadlock notice, the
receiving Party shall within ten days of receipt, prepare and circulate to the other Party a statement setting out its position on the matter in dispute and reasons for adopting such position, and simultaneously send a copy of its statement to the
Steering Committee. Each such statement shall be considered by the next regular meeting held by the. Steering Committee or in a forum meeting specifically called upon by either Party for the settlement of the issue. 

  
 22 

 Agreement No.: GEE21-011 

 
  
  

	16.1.2	 The members of the Steering Committee shall use reasonable endeavors to resolve a deadlock situation in good
faith. As part thereof the Steering Committee may request the Parties to in good faith develop and agree on a plan to resolve or address the breach, to be presented for the Steering Committee without undue delay. If the Steering Committee agrees
upon a resolution or disposition of the matter, the Parties shall agree in writing on terms of such resolution or disposition and the Parties shall procure that such resolution or disposition is fully and promptly carried into effect.

  

	16.1.3	 If the Steering Committee cannot settle the deadlock within 30 days from the deadlock notice pursuant to the
Section above, despite using reasonable endeavors to do so, such deadlock will be referred to the Strategic Board. If no Steering Committee has been established between the Parties, the relevant issue shall be referred to the Strategic Board.
Should the matter not have been resolved by the Strategic Board within 30 days counting from when the matter was referred to them, despite using reasonable endeavors to do so, the matter shall be resolved in accordance with Section 16.2 below.

  

	16.1.4	 All notices and communications exchanged in the course of a deadlock resolution proceeding shall be considered
Confidential Information of each Party and be subject to the confidentiality undertaking in Section 11 above. 

  

	16.1.5	 Notwithstanding the above, the Parties agree that either Party may disregard the time frames set forth in this
Section 16.1 and apply shorter time frames and/or escalate an issue directly to the Strategic Board in the event the escalated issue is of an urgent character and where the applicable time frames set out above are not appropriate.

  

	16.2	 Arbitration 

  

	16.2.1	 Any dispute, controversy or claim arising out of or in connection with this License Agreement or the breach,
termination or invalidity thereof, shall be finally settled by arbitration in accordance with the Arbitration Rules of the China International Economic and Trade Arbitration Commission (CIETAC), whereas the seat of arbitration shall be Shanghai,
PRC. The language to be used in the arbitral proceedings shall be English. and the arbitral tribunal shall be composed of three arbitrators. 

  

	16.2.2	 Irrespective of any discussions or disputes between the Parties, each Party shall always continue to fulfil its
undertakings under this License Agreement unless an arbitral tribunal or court (as the case may be) decides otherwise. 

  

	16.2.3	 In any arbitration proceeding, any legal proceeding to enforce any arbitration award, or any other legal
proceedings between the Parties relating to this License Agreement, each Party expressly waives the defense of sovereign immunity and any other defense based on the fact or allegation that it is an agency or instrumentality of a sovereign state.
Such waiver includes a waiver of any defense of sovereign immunity in respect of enforcement of arbitral awards and/or sovereign immunity from execution over any of its assets. 

  
 23 

 Agreement No.: GEE21-011 

 
  
  

	16.2.4	 All arbitral proceedings as well as any and all information, documentation and materials in any form disclosed
in the proceedings shall be strictly confidential. 

 [Signature Pages Follow] 

  
 24 

 Agreement No.: GEE21-011 

 
  
  

 This License Agreement has been signed in six (6) originals, of which the Licensor has
received five (5) originals and the Licensee received one (1) original. 
  

			
	[Place:] Ningbo, China	  	[Place:] Gothenburg, Sweden
		
	[Date:] 30/12/2021	  	[Date:] 10.12.2021
		
	ZHEJIANG ZEEKR AUTOMOBILE	  	POLESTAR PERFORMANCE AB
		
	RESEARCH AND DEVELOPMENT CO., LTD.	  	
		
	By: /s/ Xu
Yun                                        
	  	By: /s/ Thomas Ingenlath                    
		
	Printed Name: Xu Yun                          	  	Printed Name: Thomas Ingenlath        
		
	Title: VP, Z Product Line Development	  	Title: CEO Polestar                             
		
	Date:
30/12/2021                                    	  	Date: 10.12.2021                                 
		
	By:                                     
                     	  	By: /s/ Dennis Nobelius                      
		
	Printed
Name:                                        
	  	Printed Name: Dennis Nobelius
		
	Title:                                     
                 	  	Title: COO Polestar                            
		
	Date:                                     
                 	  	Date: 10.12.2021                                

  
 25 

 Agreement No.: GEE21-011 

 

 LICENSE AGREEMENT 

APPENDIX 1 

SPECIFICATION 
  

 
  

	1.	 GENERAL 

This Appendix 1 is part of the License Agreement executed between the Licensee and the Licensor and provides a description of the Technology
licensed to the Licensee under this License Agreement. 
  

	2.	 DEFINITIONS 

Any capitalised terms used but not specifically defined herein shall have the meanings set out for such terms in the License Agreement. In
addition, the capitalised terms set out below in this Appendix I shall for the purposes of tins Appendix have the meanings described herein. All capitalised terms in singular shall have the same meaning in plural and vice versa. 

“Carry-Over Tophat Technology” is defined in Section 4.1. 

 

	3.	 TECHNOLOGY CATEGORIES AND PRINCIPLES 

 

	3.1	 This Appendix 1 sets forth a description of the Technology and the deliverables needed for the Licensee to make
use of the licensed technology. 

  

	3.2	 The technical specification included herein is divided per product stream as set out in Appendix 1A.

  

	3.3	 A list of the (Software) content according to NPDS is attached in Appendix 1B. 

 

	3.4	 A list of the EDE Specification Package is attached in Appendix 1C. 

 

	4.	 SPECIFICATION OF LICENSE CONTENT – CARRY-OVER TOPHAT TECHNOLOGY 

 

	4.1	 The Licensed Intellectual Property to be provided from the Licensor to the Licensee under this License
Agreement include carry-over tophat technology as detailed in this Section 4 (“Carry-Over Tophat Technology”). The components with respect to the Carry-Over Tophat Technology are outlined in Appendix 1A. 

  
 1 

 Agreement No.: GEE21-011 

 

 LICENSE AGREEMENT 

APPENDIX 1 

SPECIFICATION 
  

 
  

	4.2	 The deliverables relating to the Carry-Over Tophat Technology will be delivered according to Geely template and
include but not limited to: 

  

	 	(a)	 Technical descriptions, i.e., Technical Regulations (TR); 

 

	 	(b)	 2D drawings; 

  

	 	(c)	 Production 3D data ([***]) according to TR; 

 

	 	(d)	 BOM List (Only for c/o parts from Zeekr); 

 

	 	(e)	 Weight book; 

  

	 	(f)	 ESOW to suppliers; 

  

	 	(g)	 12V1R ADAS function content (testing report); 

 

	 	(h)	 Complete vehicle level BOM cost when applicable. 

  
 2 

 APPENDIX 1A - CARRY - OVER TOPHAT TECHNOLOGY 

[***] 

  
 3 

 APPENDIX 1B - SOFTWARE LIST 

[***] 

 APPENDIX C - HMI SPECIFICATION PACKAGE 

[***] 

  
 5 

 Agreement No.: GEE21-011 

 

 LICENSE AGREEMENT 

APPENDIX 2 
 LICENSE FEE

  
  

[***] 

  
 6EX-10.67

 Exhibit 10.67 

 

	
	Agreement No.: GEE21-013

 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 
 TOOLING AND EQUIPMENT AGREEMENT

 Dated 12-10-2021 

by and among 
 Polestar Automotive China
Distribution Co., Ltd., Reg. No. 91510112MA6D05KT88, a corporation organized and existing under the laws of China (the “Polestar”); and 
 Ningbo
Hangzhou Bay Geely Automotive Parts Co., Ltd., Reg. No.91330201MA2CHD0427, a limited liability company incorporated under the laws of People ́s Republic of China (“Geely”). 

Polestar, Geely are hereinafter jointly referred to as the “Parties” and individually as a “Party”. 

1. BACKGROUND 
 1.1 Geely or its affiliates agree to
provide manufacturing OEM services for Polestar vehicle (“[***] Project”). The production of Polestar vehicle (“[***] Project”) requires certain unique equipment and inhouse tooling and launch cost. 

1.2 The purpose of this Tooling and Equipment Agreement (the “Agreement”) is to (i) serve as a binding commitment for Polestar to the scope set
out in this Agreement and (ii) confirm both Parties’ intention to enter into a more detailed agreement for production of Polestar vehicle (“[***] Project”) not later than one year before start of production. 

1.3 The Parties have agreed that the ownership of the Investment Types as defined in section 3.1.1.1 and 3.1.1.3 shall, once the ownership of the Investment
Types has passed from the supplier to Geely, be transferred to Polestar, subject to Polestar paying Geely the acquisition price described in this Agreement. 

2. DEFINITIONS 
 For the purpose of these General Terms,
the following terms shall have the meanings assigned to them below. All capitalized terms in singular in the list of definitions shall have the same meaning in plural and vice versa. Any capitalized terms used, but not specifically defined below in
this Section 2, shall have the meaning ascribed to them in this Agreement. 
 “Steering Committee” is defined in Section 9.1.3

  
 1 

	
	Agreement No.: GEE21-013

  

 “Strategic Board” is defined in Section 9.1.4 

“FDJ” means Final Data Judgment gate 

“VP” means Verification Prototype gate 

“TT” means Tooling Trial 
 “Job1”
means Job1 milestone 
 “SOP” means Start of Production 

“FSR” means Final Status Report milestone 

3. AGREED INVESTMENTS 
 3.1 Definition of Investment
Types 
 3.1.1 Unique equipment and inhouse tooling 

Unique equipment and inhouse tooling means tools, facilities, fixtures and/or production lines, that are related to the Polestar vehicle (“[***]
Project”) process usage as further defined in section 3.1.1.1, 3.1.1.2 and 3.1.1.3 
 3.1.1.1 Unique equipment means newly added equipment owned by
Polestar (subject to the fulfillment of section 3.3.3) that cannot be, or is not expected to be, re-used without modifications for another product. Some typical examples of unique equipment are a Polestar
vehicle (“[***] Project”) designed gripper, a shaped fixture, a gauging tool or any duplicated or unique manufacturing process aimed to only produce Polestar branded vehicles. 

3.1.1.2 Unique equipment also includes modification of already existing equipment owned by Geely at the manufacturing site that will be modified for
manufacturing of Polestar [***] after the modification. That includes also re-arrangement of existing facilities for the sole purpose to produce the Polestar vehicle (“[***] Project”). For avoidance
of doubt, such modification of the Unique equipment shall not change the ownership hereof, which shall be owned by Geely. 
 3.1.1.3 Unique inhouse tooling
to be owned by Polestar (subject to the fulfillment of section 3.3.3), specifically for steel die and plastic mold, means unique inhouse tooling, that are related to the Polestar vehicle (“[***] Project”) usage only. Unique tooling cannot
be, or is not expected to be, re-used without modifications for another product. 
 3.2 Launch cost
means costs incurred up until FSR (Final Status Report) of the Polestar vehicle to support all phases of the launch process of the Polestar vehicle (“[***] Project”) usage only, including
pre-production vehicles, plant manpower to support the launch, launch team facilities and all activities to ensure a quality launch. 

  
 2 

	
	Agreement No.: GEE21-013

  

 3.3 Agreed Investment 

3.3.1 Subject to the terms of this Agreement, both Parties commit to certain investments necessary to manufacture Polestar vehicle (“[***] Project”)
by Geely prior to the Parties entering into the definitive Manufacturing Agreement. 
 3.3.2 Geely acknowledges that the Investment Types shall remain at its
current location after the sales of the Investment Types from Geely to the Polestar is completed, unless otherwise agreed between the Parties. In the light of the foregoing, the Parties agree that the Investment Types shall be deemed delivered once
Polestar has paid the full price for the Investment Types in accordance with what is set out in Section 4 and Section 3 below upon the Effective Date of this Agreement and Geely shall thus be responsible for any loss and damage of the
tooling from the date hereof. 
 3.3.3 The Parties further agree that the ownership of the Investment Types shall be transferred from Geely to Polestar with
the exception stipulated in 3.1.1.2, (i) after ownership of the relevant Investment Types has passed from the supplier of the relevant Investment Types to Geely and (ii) once Polestar has paid the full price for the Investment Types in
accordance with what is set out in Section 4 and section 3.5.2 below. 
 3.4 Agreed investment levels 

3.4.1 The total price for the purchase of the Unique Inhouse tooling and equipment (Investment types defined in Section 3.1.1.1, 3.1.1.2 and 3.1.1.3)
amounts to [***] 
 3.4.2 The total price for launch costs (as defined in Section 3.2) amounts to [***] 

3.5 Pricing 
 3.5.1 Both Parties agree that Geely shall
start to purchase unique equipment, unique inhouse tooling and start to spend the launch cost in accordance with Appendix 1. 

  
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	Agreement No.: GEE21-013

  

 3.5.2. Price for the unique inhouse tooling, unique equipment, and launch cost related to the Polestar
vehicle (“[***] Project”) will be based on arm’s length pricing.3.5.3 The price for Inhouse tooling and equipment shall be invoiced to Purchaser upon Purchaser’s approval of the Milestone (the below dates not being considered
payment dates but the dates when the Milestones shall be ready for approval) described as follows. 

  
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	Agreement No.: GEE21-013

  

 [***] 
 The
price for launch cost shall be invoiced to Purchaser upon Purchaser’s approval of the Milestone (the below dates not being considered payment dates but the dates when the Milestones shall be ready for approval) described as follows. 

[***] 
 4. INVOICING AND PAYMENT TERMS

 4.1 All amounts and payments referred to in this Agreement shall be paid in RMB, in a timely manner and in accordance with the payment terms set forth
in this Section 3 by bank transfer. 
 4.2 All amounts referred to in this Agreement are exclusive of VAT, and any other taxes, including but not
limited to withholding tax and surcharges. For avoidance of doubt, Polestar shall bear the VAT and surcharges. 
 4.3 The costs for the Agreed Investments
shall be invoiced according to the payment schedule set forth in 3.5.3. 
 4.4 In order for Polestar to fulfill insurance and accounting requirements, Geely
will provide a detailed tooling and equipment list (“Final Tooling & Equipment List”) with price per unit to Polestar after Job1 China. 

4.5 Any amount invoiced by Geely to Polestar shall be paid by Polestar within forty-five (45) days after receipt. 

4.6 With respect to any payment made later than the due date, such will automatically be subject to interest for late payments for each day it is not paid. The
interest rate to be applied under this Agreement shall be based on the one-month applicable interbank rate, with an addition of two per cent (2%) per annum. 

4.7 Each of the Parties shall be responsible for its own respective costs and expenses involved in its efforts to negotiate, conclude and fulfil this Agreement
and its Supplementary Agreement (if any). None of the Parties will have any right to any reimbursement, payment or compensation of any kind from the other, except for proven damages following a breach of this Agreement. 

  
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	Agreement No.: GEE21-013

  

 5. RIGHT TO CLAIM AGAINST SUPPLIER 

5.1 The supplier of the Investment types defined in 3.1.1.1 and 3.1.1.3 shall assume the liabilities and obligations in relation to the warranty of the Unique
equipment and inhouse tooling. Geely hereby assigns to Polestar, and Polestar hereby acknowledge and accept, the right to claim against any supplier for defect, non-conformity, negligence or fault in
connection with the design or manufacture of any Unique equipment and inhouse tooling, environmental damage, spill, discharge or emission of hazardous wastes or substances caused by a defect or contractual nonconformity of any Unique equipment and
inhouse tooling and infringement of any Intellectual Property Right relating to the Unique equipment and inhouse tooling further agrees not to submit any such claims against Geely; instead, any and all such claims shall be raised to the relevant
supplier directly. 
 5.2 The Parties may agree that Geely can act on behalf of Polestar in handling claims towards the suppliers in accordance with section
5.1. 
 6. WARRANTIES 
 6.1 Each Party warrants and
represents to the other Party that: it is duly organized, validly existing, and in good standing under the laws of its respective jurisdiction of incorporation or formation, as applicable; 

 

	 	a)	 it has full corporate power and authority to execute and deliver this Agreement and to perform its obligations
hereunder; 

  

	 	b)	 the execution, delivery and performance of this Agreement have been duly authorized and approved, with such
authorization and approval in full force and effect, and do not and will not (i) violate any laws or regulations applicable to it or (ii) violate its organization documents or any agreement to which it is a party; and

  

	 	c)	 this Agreement is a legal and binding obligation of it, enforceable against it in accordance with its terms.

 6.2 The Parties acknowledge that the Investment Types are provided and sold on an “as is” basis without any warranties or
representations of any kind, whether implied or express. Geely takes no responsibility and expressly disclaims any and all liability and claims of any kind in case of errors or defects in the Investment Types as well as any damage caused as a result
of or in relation to the use of the Investment Types. 
 7. LIMITATION OF LIABILITY 

7.1 If a Party is in breach of any of its obligations under this Agreement, the breaching Party shall indemnify and hold the other Party harmless against any
and all actual and direct damages, losses, costs, expenses, liabilities or claims suffered or incurred by the non-breaching Party as a result of the breach. 

7.2 Neither Party shall be responsible for any indirect, incidental or consequential damage or any losses of production or profit caused by it under this
Agreement. 

  
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 7.3 Each Party’s aggregate liability for any damage arising out of or in connection with this Agreement
shall be limited to 30% of the total amount set out in section 3.4. 
 7.4. The limitations of liability shall not apply in respect of damage; 

 

	 	a)	 caused by willful misconduct or gross negligence; or 

 

	 	b)	 caused by a Party’s breach the confidentiality undertakings in section 10 below. 

8. TERMINATION 
 8.1 This Agreement shall become effective
when signed by duly authorized signatories of each Party and shall, unless terminated in accordance with this Section 8 below, remain in full force until the agreed fees are paid. 

8.2 Either Party shall be entitled to terminate this Agreement with immediate effect in the event: 

 

	(a)	 the other Party commits a material breach of the terms of this Agreement, which has not been remedied within 30
calendar days from written notice from the other Party to remedy such breach (if capable of being remedied); 

  

	(b)	 if the other Party should become insolvent or enter into negotiations on composition with its creditors or a
petition in bankruptcy should be filed by it or it should make an assignment for the benefit of its creditors. 

 8.3 If either the License
agreement or Service agreement is terminated, or otherwise mutually agreed by both parties, Polestar shall be entitled to terminate the Agreement for convenience upon 30 days written notice to Geely. In such event, Geely shall, upon request from
Polestar, promptly make available any and all parts of the Investment Types which have been finalised on the effective date of the cancellation. 
 8.4 In
the event Polestar cancels the order on Investment Types or terminates the Agreement according to section 8, provided that Geely does not commit a material breach of the terms of this Agreement, the invoiced amount from Geely shall correspond to all
related costs for the Investment Types which cannot be mitigated by Geely, incurred up, including but not limited to the cost of investment and operation, labor cost and material input, supplier’s cost and claim, etc. until and including the
effective date of the cancellation or termination and any other reasonable proven costs the order of Investment Types has incurred. 
 8.5 After EOP (End of
Production), Polestar shall properly dispose all unique inhouse tooling and equipment which are owned by Polestar. If the above mentioned unique inhouse tooling and equipment remain in the site of Geely, Polestar shall bear all the storage cost and
related fees which will be further agreed by both parties in Manufacturing Agreement. 

  
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 9. GOVERNANCE AND CHANGE 

9.1 Governance 
 9.1.1 The Parties shall act in good faith
in all matters and shall at all times co-operate in respect of changes to this Agreement as well as issues and/or disputes arising under this Agreement. 

9.1.2 The governance and co-operation between the Parties in respect of this Agreement shall primarily be administered
on an operational level. In the event the Parties on an operational level cannot agree upon the aspects relating to the co-operation between the Parties, each Party shall be entitled to escalate such issue in
accordance with what it set forth in Section 12. 
 9.1.3 The first level of governance forum for handling the
co-operation between the Parties in various matters, under this Tooling and Equipment Agreement (“Agreement” ) shall be the Geely/Polestar “Steering Committee”. The Steering Committee shall
be the first level of governance forum established by the Parties for handling the cooperation between them in respect of various matters. 
 9.1.4 The
higher level of governance forum, to which an issue shall be escalated if the Steering Committee fails to agree upon a solution shall be the “Strategic Board”, which is the so called Executive Meeting between the CEO of Ningbo Hangzhou Bay
Geely Automotive Parts Co., Ltd. and the CEO of the Polestar group (currently the CEO of Polestar Automotive Holding Limited). The Strategic Board shall be the highest level of governance forum established by the Parties for handling the cooperation
between them in respect of various matters. 
 9.1.5 In the event that the Parties cannot agree on a joint solution for handling disagreements or disputes, a
deadlock situation shall be deemed to have occurred and the procedure set forth in Section12 shall apply. 

  
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 9.2 Changes 

During the term of this Agreement, the Parties can request changes to the Agreement, which shall be handled in accordance with the governance procedure above.
Both Parties agree to act in good faith to address and respond to any change request within a reasonable period of time. 
 10. CONFIDENTIALITY 

10.1 The Parties shall take any and all necessary measures to comply with the security and confidentiality procedures of the other Party. 

10.2 All Confidential Information shall only be used for the purposes set forth in this Agreement. Each Party will keep in confidence any Confidential
Information obtained in relation to this Agreement and will not divulge the same to any Third Party, unless the exceptions specifically set forth below in this Section 10.2 below apply, in order to obtain patent protection or when approved by
the other Party in writing, and with the exception of their own officers, employees, consultants or sub-contractors with a need to know as to enable such personnel to perform their duties hereunder. This
provision will not apply to Confidential Information which the Receiving Party can demonstrate:(a) was in the public domain other than by breach of this undertaking, or by another confidentiality undertaking; 

(b) was already in the possession of the Receiving Party before its receipt from the Disclosing Party; 

(c) is obtained from a Third Party who is free to divulge the same;(d) is required to be disclosed by mandatory law, court order, lawful
government action or applicable stock exchange regulations; 
 (e) is reasonably necessary for either Party to utilize its rights and use of
its Intellectual Property Rights; or 
 (f) is developed or created by one Party independently of the other, without any part thereof having
been developed or created with assistance or information received from the other Party. 
 10.3 The Receiving Party shall protect the disclosed Confidential
Information by using the same degree of care, but no less than a reasonable degree of care, to prevent the dissemination to third parties or publication of the Confidential Information, as the Receiving Party uses to protect its own Confidential
Information of similar nature. Further, each Party shall ensure that its employees and consultants are bound by a similar duty of confidentiality and that any subcontractors taking part in the fulfilment of that Party’s obligations hereunder,
enters into a confidentiality undertaking containing in essence similar provisions as those set forth in this Section 10. 

  
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	Agreement No.: GEE21-013

  

 10.4 Any tangible materials that disclose or embody Confidential Information should be marked by the
Disclosing Party as “Confidential,” “Proprietary” or the substantial equivalent thereof. Confidential Information that is disclosed orally or visually shall be identified by the Disclosing Party as confidential at the time of
disclosure, with subsequent confirmation in writing within thirty (30) days after disclosure. However, the lack of marking or subsequent confirmation that the disclosed information shall be regarded as “Confidential” does not
disqualify the disclosed information from being classified as Confidential Information. 
 10.5 If any Party violates any of its obligations described in
this Section10, the violating Party shall, upon notification from the other Party, (i) immediately cease to proceed such harmful violation and take all actions needed to rectify said behaviour and (ii) financially compensate for the harm
suffered as determined by an arbitral tribunal pursuant to Section 12.2 below. All legal remedies (compensatory but not punitive in nature) according to law shall apply. 

10.6 This Section10 shall survive the expiration or termination of this Agreement without limitation in time. 

11. GOVERNING LAW 
 This Agreement and all non-contractual obligations in connection with this Agreement shall be governed by the substantive laws of the People’s Republic of China, without giving regard to its conflict of laws principles. 

12. DISPUTE RESOLUTION 
 12.1 Escalation 

12.1.1 In case the Parties cannot agree on a joint solution for handling disagreements or disputes, a deadlock situation shall be deemed to have occurred and
each Party shall notify the other Party hereof by the means of a deadlock notice and simultaneously send a copy of the notice to the Steering Committee. Upon the receipt of such a deadlock notice, the receiving Party shall within ten days of
receipt, prepare and circulate to the other Party a statement setting out its position on the matter in dispute and reasons for adopting such position, and simultaneously send a copy of its statement to the Steering Committee. Each such statement
shall be considered by the next regular meeting held by the Steering Committee or in a forum meeting specifically called upon by either Party for the settlement of the issue. 

  
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 12.1.2 The members of the Steering Committee shall use reasonable endeavors to resolve a deadlock situation
in good faith. As part thereof, the Steering Committee may request the Parties to in good faith develop and agree on a plan to resolve or address the breach, to be presented for the Steering Committee without undue delay. If the Steering Committee
agrees upon a resolution or disposition of the matter, the Parties shall agree in writing on terms of such resolution or disposition and the Parties shall procure that such resolution or disposition is fully and promptly carried into effect. 

12.1.3 If the Steering Committee cannot settle the deadlock within 30 days from the deadlock notice pursuant to the section above, despite using reasonable
endeavors to do so, such deadlock will be referred to the Strategic Board. If no Steering Committee has been established between the Parties, the relevant issue shall be referred to the Strategic Board. Should the matter not have been resolved by
the Strategic Board within 30 days counting from when the matter was referred to them, despite using reasonable endeavors to do so, the matter shall be resolved in accordance with Section 12.2 below. 

12.1.4 All notices and communications exchanged in the course of a deadlock resolution proceeding shall be considered Confidential Information of each Party
and be subject to the confidentiality undertaking in Section 10 above. 
 12.1.5 Notwithstanding the above, the Parties agree that either Party may
disregard the time frames set forth in this Section 12.1 and apply shorter time frames and/or escalate an issue directly to the Strategic Board in the event the escalated issue is of an urgent character and where the applicable time frames set
out above are not appropriate. 
 12.2 Arbitration 

12.2.1 Any dispute, controversy or claim arising out of or in connection with this Agreement, or the breach, termination or invalidity thereof shall be
submitted to China International Economic and Trade Arbitration Committee (“CIETAC”) for arbitration, which shall be held in Shanghai and conducted in accordance with the CIETAC’s arbitration rules in effect at the time of applying
for arbitration, whereas the language to be used in the arbitral proceedings shall be English and Chinese. 
 12.2.2 Irrespective of any discussions or
disputes between the Parties, each Party shall always continue to fulfil its undertakings under the Agreement unless an arbitral tribunal or court (as the case may be) decides otherwise. 

12.2.3 In any arbitration proceeding, any legal proceeding to enforce any arbitration award, or any other legal proceedings between the Parties relating to
this Agreement, each Party expressly waives the defense of sovereign immunity and any other defense based on the fact or allegation that it is an agency or instrumentality of a sovereign state. Such waiver includes a waiver of any defense of
sovereign immunity in respect of enforcement of arbitral awards and/or sovereign immunity from execution over any of its assets. 

  
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 12.2.4 All arbitral proceedings as well as any and all information, documentation and materials in any form
disclosed in the proceedings shall be strictly confidential. 
 13. MISCELLANEOUS 

13.1 Force majeure 
 13.1.1 Neither Party shall be liable
for any failure or delay in performing its obligations under the 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 God, 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 subcontractors if such default or delay has been caused by one of the foregoing
events. 
 13.1.2 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 non-performance notwithstanding the Force Majeure
Event and shall continue the performance of its obligations as soon as the Force Majeure Event ceases to exist. 
 13.2 Notices 

13.2.1 All notices, demands, requests and other communications to any Party as set forth in, or in any way relating to the subject matter of, this Agreement
must be in legible writing in the English language delivered by personal delivery, facsimile, email transmission or prepaid overnight courier using an internationally recognized courier service and shall be effective upon receipt, which shall be
deemed to have occurred: 
 (a) in case of personal delivery, at the time and on the date of personal delivery; 

(b) if sent by email transmission, at the time and on the date indicated on a response confirming successful email; 

(c) if delivered by courier, at the time and on the date of delivery as confirmed in the records of such courier service; or 

  
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	Agreement No.: GEE21-013

  

 (d) at such time and date as delivery by personal delivery or courier is refused by the
addressee upon presentation; 
 in each case provided that if such receipt occurred on a non-business day, then
notice shall be deemed to have been received on the next following business day; and provided further that where any notice, demand, request or other communication is provided by any party by email, such party shall also provide a copy of such
notice, demand, request or other communication by using one of the other methods. 
 13.2.2 All such notices, demands, requests and other communications
shall be sent to following addresses: 
 To Geely: 
 Ningbo
Hangzhou Bay Geely Automotive Parts Company Limited 
 No.688, Binhai 6th Road, Hangzhou Bay New Zone, Ningbo 

Attention: [***] 
 Email: [***] 

With a copy not constituting notice to: 
 Zhejiang Geely Holding
Group Company Limited 
 1760 Jiangling Road 
 Binjiang
District, Hangzhou 
 Attention: [***] 
 [***] 

To Polestar: 
 Polestar Automotive China Distribution Co., Ltd

 Email: legal@polestar.com 
 With a copy not constituting
notice to: 
 Polestar Performance AB 
 Attention: [***] 

Email: [***] 

  
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	Agreement No.: GEE21-013

  

 13.3 Assignment 

Neither Party may, wholly or partly, assign, pledge or otherwise dispose of its rights and/or obligations under this Agreement without the other Party’s
prior written consent. 
 13.4 Waiver 
 Neither Party
shall be deprived of any right under this Agreement because of its failure to exercise any right under this Agreement or failure to notify the infringing party of a breach in connection with the Agreement. Notwithstanding the foregoing, rules on
complaints and limitation periods shall apply. 
 13.5 Severability 

In the event that any provision of this Agreement conflicts with applicable law or if any such provision is held invalid by an arbitrator or a competent court,
such provision shall be deemed to be restated to reflect as nearly as possible the original intentions of the Parties in accordance with applicable law. The remainder of the Agreement shall at all times remain in full force and effect. 

13.6 Entire Agreement 
 All arrangements, commitments and
undertakings in connection with the subject matter of this Agreement (whether written or oral) made before the date of this Agreement are superseded by this Agreement. 

13.7 Amendments 
 Any amendment or addition to this
Agreement must be made in writing and signed by the Parties to be valid. 
 13.8 Survival 

If this Agreement is terminated Section 10 (Confidentiality), Section 11 (Governing Law), Section 12 (Dispute resolution) as well as this
Section 13.8, shall survive any termination or expiration and remain in force as between the Parties after such termination or expiration. 
 14.
APPENDIX 
 Appendix 1: List of inhouse unique tooling and equipment 

Appendix 2: Description of industrialization activities 
 (The
following is the signing page of the unique tooling and equipment agreement) 

  
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	Agreement No.: GEE21-013

  

 This Tooling and Equipment Agreement has been signed in [6] originals, of which Geely received five
(5) originals and Polestar received one (1) original 
  

									
	POLESTAR AUTOMOTIVE CHINA DISTRIBUTION CO., LTD.	 		 	NINGBO HANGZHOU BAY GEELY AUTOMOTIVE PARTS CO., LTD.
					
	By:	 	/s/ Lars
Danielson                                        
                   	 		 	By:	 	/s/ Chunlin
Zhao                                         
                    
	Printed name: Lars Danielson	 		 	Printed name: Chunlin Zhao
	Title:	 	                                      
                                         
         	 		 	Title:	 	                                      
                                         
         
			
	Date: Dec 10 2021	 		 	Date: Jan 17. 2022
					
	By:	 	                                      
                                         
         	 		 	By:	 	                                      
                                         
         
	Printed name:
                                         
                                    	 		 	Printed
name:                                        
                                     
	Title:	 	                                      
                                         
         	 		 	Title:	 	                                      
                                         
         
					
	Date:	 	                                      
                                         
         	 		 	Date:	 	                                      
                                         
         

  
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	Agreement No.: GEE21-013

  

 Appendix 1 - List of Inhouse Unique Tooling and Equipment 

[***] 

  
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	Agreement No.: GEE21-013

  

 Appendix 2 - Unique Tooling - Description of Industrialization Activities 

[***] 

  
 17

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