PSNY Filings — Polestar Automotive Holding UK Plc - FilingSpy
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Polestar Automotive Holding UK Plc
A Swedish maker of premium electric cars, co-owned by Volvo and Geely, Polestar builds stylish battery-powered vehicles like the Polestar 2 liftback and the Polestar 3 and 4 SUVs. Its roots reach back to 1996, when racing driver Jan "Flash" Nilsson founded a Volvo racing team later renamed Polestar, which Volvo bought in 2015. The name nods to both the North Star (Polaris) that guided sailors and the racing "pole position."
Polestar reports record H1 2026 retail sales of 30,423 cars
CEO Michael Lohscheller cited strong growth in the UK, Germany, South Korea, and the Iberia region.
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Polestar's estimated retail sales for H1 2026 reached a record 30,423 cars, up 0.4% from 30,289 in H1 2025.
Q2 2026 retail sales were an estimated 17,296 cars, down 4.0% from 18,026 in Q2 2025.
Excluding U.S. business, H1 2026 retail sales were 28,562 cars, up 3.1% year-over-year.
Polestar's retail network expanded to 235 sites, a 39% increase year-over-year, with Polestar 5 deliveries starting and Polestar 4 production underway.
The company separately reports volumes excluding the U.S. following the U.S. Connected Vehicle Rule decision.
Polestar to focus on Europe after U.S. denies Connected Vehicle Rule authorization
U.S. Department of Commerce's Bureau of Industry and Security denied Polestar authorization to sell vehicles in the U.S. from model year 2027 onwards under the Connected Vehicle Rule.
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Polestar will increase strategic focus on Europe, which represents close to 80% of its retail sales volumes, and plans to localize manufacturing of future models there.
The company will continue selling existing stock of Polestar 3 and Polestar 4 in the U.S. and will support customers with service network access.
94% of Polestar's retail sales volumes in Q1 2026 came from markets outside the U.S.
Polestar plans to launch Polestar 5 deliveries in summer 2026, a new Polestar 4 variant in H2 2026, a new Polestar 2 in 2027, and Polestar 7 compact SUV in 2028.
Polestar extends Geely term facility to June 2027, margin rises to 3.2%
On June 3, 2026, Polestar and Geely Sweden Automotive Investment AB amended the Term Facility Agreement dated December 16, 2025.
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The amendment extends the facility's termination date to June 30, 2027.
The margin on the facility increases from 3.0% to 3.2% per annum, effective from the next interest period after the General Effective Date.
The amendment also changes interest payment terms, requiring accrued interest to be paid on the termination date, and sets interest periods at three months.
The amendment is subject to conditions precedent, including board resolutions and certificates from Polestar's CEO or CFO.
Polestar reports Q1 2026 record volumes but net loss widens to USD 383 million
Retail sales reached 13,126 cars in Q1 2026, up 7.0% year-on-year from 12,263 cars.
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Revenue was USD 633 million, roughly flat versus USD 632 million a year earlier.
Gross margin turned negative at (3.2)%, down from 10.3% in Q1 2025, due to pricing pressure, tariffs, and lower carbon credit sales.
Net loss widened to USD 383 million from USD 166 million in Q1 2025, and adjusted EBITDA was negative USD 235 million versus negative USD 96 million.
Cash position fell to USD 676 million as of March 31, 2026, from USD 1,159 million at end-2025, despite USD 700 million in new equity and over USD 1.4 billion in renewed facilities.