Polestar Automotive Holding UK (PSNY) Company Report

Polestar announced a USD 400 million equity investment from Feathertop Funding Limited and Standard Chartered Bank (Hong Kong) Limited, with USD 200 million each.
The investment involves the purchase of Class A ADSs at a price of USD 19.34 per share, consistent with the equity financing announced in December 2025.
Concurrent with the purchase, the financial institutions have entered into a three-year put option arrangement with a wholly-owned subsidiary of Geely Sweden Holdings AB, providing an exit path with certain returns.
The proceeds from this financing will be used for repaying a portion of the company's debt and/or for general corporate purposes, including working capital.

5 days ago

6-K

Polestar secures $400M investment

PSNY

New Projects/Investments

Polestar secured a $400 million equity investment from Feathertop Funding, a vehicle consolidated by Sumitomo Mitsui Banking Corporation and Standard Chartered Bank.
The financing, announced on February 2, includes a strategic put option with Geely Sweden Holdings, providing an exit mechanism for lenders with specified returns in about three years.
This investment aims to bolster Polestar’s balance sheet amidst intensifying global EV competition.
Despite the new funding, Polestar's financials show continued strain, with moderate revenue growth but steep operating and net losses (operating margin near -95.55%, net margin around -105.95%) and weak liquidity (current ratio of 0.43, quick ratio of 0.27).

5 days ago

Morningstar

Polestar announces USD 400 million equity financing

PSNY

Polestar secured a USD 400 million equity investment from Feathertop Funding Limited and Standard Chartered Bank (Hong Kong) Limited, with USD 200 million each.
The financial institutions have a put option arrangement with a wholly-owned subsidiary of Geely Sweden Holdings AB, providing an exit path in three years with certain returns.
The Class A ADS will be purchased at USD 19.34 per share, consistent with the December 2025 equity financing price, and the transaction is expected to close by February 5, 2026.

5 days ago

Press Release

Polestar Reports Record 2025 Retail Sales and Regains Nasdaq Compliance

PSNY

Revenue Acceleration/Inflection

Guidance Update

Delisting/Listing Issues

Polestar announced record retail sales of approximately 60,119 cars for full-year 2025, representing a 34% growth compared to 2024.
Q4 2025 retail sales reached an estimated 15,608 cars, an increase of 27% over Q4 2024.
CEO Michael Lohscheller stated that 2025 was the best year ever for Polestar's retail sales volumes, attributing success to market share gains and a sales network expansion of over 50%.
Polestar will host a strategy update on February 18, 2026, to provide key product updates and its financial outlook.
The company regained compliance with Nasdaq's Listing Rule 5450(a)(1) on December 23, 2025, after its ADS closing bid price exceeded USD 1.00 for at least ten consecutive business days.

Jan 9, 2026, 12:00 PM

6-K

Polestar Reports Record Retail Sales in 2025 and Regains Nasdaq Compliance

PSNY

Revenue Acceleration/Inflection

Guidance Update

Delisting/Listing Issues

Polestar achieved record retail sales of 60,119 cars in 2025, marking a 34% growth compared to 2024.
In Q4 2025, retail sales reached 15,608 cars, an increase of 27% over Q4 2024.
The company's CEO highlighted market share gains and the expansion of its sales network (over 50% growth) as key drivers for the strong performance.
Polestar will host a strategy update on February 18, 2026, to discuss product updates and its financial outlook.
On December 23, 2025, Polestar regained compliance with Nasdaq's Listing Rule 5450(a)(1).

Jan 9, 2026, 12:00 PM

Press Release

Polestar announces USD 300 million equity financing and USD 300 million debt to equity conversion

PSNY

New Projects/Investments

Polestar announced a USD 300 million equity investment from Banco Bilbao Vizcaya Argentaria, S.A. and NATIXIS, with each contributing USD 150 million.
Concurrent with the purchase, these financial institutions entered into a put option arrangement with a wholly-owned subsidiary of Geely Sweden Holdings AB, providing an exit path in three years with certain returns.
Geely Sweden Holdings AB agreed to convert approximately USD 300 million of its outstanding debt owed by Polestar into equity, comprising USD 250 million of principal and USD 50 million of accrued interest.
The price per Class A ADS for the equity purchase will be USD 19.34.
The equity investment is expected to close by December 23, 2025.

Dec 19, 2025, 9:17 PM

6-K

Polestar Announces Equity Financing and Debt-to-Equity Conversion

PSNY

New Projects/Investments

Polestar announced a USD 300 million equity investment from Banco Bilbao Vizcaria Argentaria, S.A. and NATIXIS, with USD 150 million each.
Geely Sweden Holdings AB has agreed to convert approximately USD 300 million of its outstanding principal and interest owed by Polestar into equity.
These transactions are expected to significantly enhance Polestar's liquidity position and strengthen its balance sheet.
The price per Class A ADS for the equity investment will be USD 19.34, and the transactions are expected to close by December 23, 2025.

Dec 19, 2025, 9:15 PM

Press Release

Polestar Reports Q3 2025 Financial Results with Revenue Growth and Continued Profitability Challenges

PSNY

Earnings

Layoffs

Demand Weakening

Polestar reported Q3 2025 revenue of $748 million, a 36% increase year-on-year, with retail sales growing 13% to over 14,000 cars. For the first nine months of 2025, revenue increased 49% to approximately $2.2 billion, and retail sales volume grew 36% to over 44,000 cars.
Profitability was significantly impacted by external headwinds, including tariff and pricing pressure, resulting in a Q3 gross margin of -6% and a net loss of $365 million. The adjusted EBITDA loss for Q3 was $259 million, an increase year-on-year.
The company is implementing strategic cost reductions, including a 20% headcount reduction from 2,500 to an expected 2,000 employees by year-end, and optimizing R&D by utilizing group technology platforms.
Polestar secured $200 million in new equity from PSD Investment Limited and renewed/secured approximately $3.2 billion in debt facilities, ending Q3 2025 with a cash position of $995 million. The monthly cash burn in H1 2025 was around $136 million, expected to increase in H2.

Nov 12, 2025, 1:00 PM

Transcript

Polestar Reports Q3 2025 Results with Revenue Growth Amid Profitability Challenges

PSNY

Earnings

Layoffs

Demand Weakening

Polestar reported Q3 2025 revenue of $748 million, a 36% increase year-over-year, and $2.2 billion for the first nine months of 2025, up 49%. Retail sales volume grew 13% in Q3 to over 14,000 cars and 36% for the first nine months to over 44,000 cars.
Profitability was significantly impacted by external headwinds, including tariff and pricing pressure, resulting in a negative 6% gross margin in Q3 2025 and an Adjusted EBITDA loss of $259 million. The U.S. market remains challenging due to tariffs and policy changes.
The company is undergoing strategic restructuring, including a 20% reduction in headcount (from 2,500 to 2,000 employees by year-end) and a shift to utilize group technology platforms for future models. The retail footprint expanded by 54% to 192 sales points (excluding China).
Polestar secured $200 million in new equity from PSD Investment Limited and approximately $1 billion in new debt facilities, with a cash position of $995 million at the end of September 2025. The company was compliant with its loan covenants.

Nov 12, 2025, 1:00 PM

Transcript

Polestar Reports Q3 2025 Revenue Growth Amid Profitability Challenges and Cost Reductions

PSNY

Earnings

Layoffs

Debt Issuance

Polestar reported Q3 2025 revenue of $748 million, a 36% increase year-over-year, and $2.2 billion for the first nine months, up 49%. Despite this top-line growth, the company recorded a negative 6% gross margin in Q3 2025, resulting in a net loss of $365 million and an increased adjusted EBITDA loss of $259 million, primarily due to pricing pressure, tariffs, and adverse product mix.
In response to profitability challenges, Polestar is implementing significant cost-cutting measures, including a planned 20% reduction in headcount by year-end 2025, aiming for 2,000 employees from 2,500 at the start of the year.
The company strengthened its financial position by securing $200 million in new equity from PSD Investment Limited and approximately $1 billion in new debt facilities, while renewing $2.2 billion in existing facilities. Polestar ended Q3 2025 with a cash position of $995 million and was compliant with its loan covenants.
Polestar 4 sales have commenced in North America, with vehicles manufactured in South Korea to benefit from lower duties, as the U.S. market remains challenging and represented 8% of retail sales in the first nine months of 2025, down from 16% in 2024.