Polestar Automotive Holding UK PLC Class C-1 ADS (ADW)

Polestar Automotive Holding UK PLC is a pure-play premium electric performance car brand that designs, develops, markets, and sells battery electric vehicles globally. The company operates across 29 markets in Europe, North America, and Asia Pacific through a network of 235 sales points and leverages manufacturing partnerships with Volvo Cars and Geely, with production facilities in China, the United States, and South Korea. Its current portfolio includes the Polestar 2 sedan, Polestar 3 SUV (with manufacturing being consolidated to Charleston, South Carolina), Polestar 4 coupé SUV, and the forthcoming Polestar 5 grand tourer, with Polestar 6 and Polestar 7 in development. The company generates revenue primarily from vehicle sales, supplemented by carbon credit sales, licensing and royalties, and software/performance kits. Polestar relies heavily on related-party relationships with Volvo Cars and Geely for manufacturing capacity, supply chain access, and financial support including credit enhancements on its borrowings. The company has been denied authorization to sell new vehicles in the U.S. from model year 2027 onwards due to the Connected Vehicle Rule, and is restructuring its U.S. operations accordingly. Polestar has disclosed material uncertainty regarding its ability to continue as a going concern, with significant negative equity, substantial debt obligations, and dependence on ongoing financing from capital markets and related parties. Updated Sep 3, 2026