PSNY

This article first appeared on GuruFocus. Retail Sales (H1 2026): Record first half with 30,423 cars sold. Retail Sales (Q2 2026): Close to 17,300 cars, a decrease of 4% year-on-year. Revenue (H1 2026): USD1.36 billion, down 4% year-on-year. Revenue (Q2 2026): USD727 million, down 8% year-on-year. Gross Margin (H1 2026): Negative 8%, an improvement of 41 percentage points year-on-year. Adjusted Gross Margin (H1 2026): Negative 9%. Gross Margin (Q2 2026): Negative 13%, an improvement from negative 97% in the prior year quarter. Adjusted Gross Margin (Q2 2026): Negative 13%, down from negative 6% last year. Operating Loss (H1 2026): USD629 million, narrowed by 43% year-on-year. Net Loss (H1 2026): USD842 million, narrowed by 29% year-on-year. Net Loss (Q2 2026): USD459 million, an improvement of 55% compared to a net loss of USD1.027 billion a year earlier. Adjusted EBITDA Loss (H1 2026): USD521 million, increased year-on-year. Adjusted EBITDA Loss (Q2 2026): USD286 million, compared to an adjusted EBITDA loss of USD206 million in the prior year period. Selling, General and Administrative Expenses (H1 2026): USD431 million, flat year-on-year. Research and Development Expenses (H1 2026): USD15 million, down from USD31 million. Cash Position: USD888 million at the end of June 2026, down from USD1.159 billion at the end of 2025. Capital Expenditure (H1 2026): USD211 million. Carbon Credit Sales (H1 2026): USD52 million, down from USD72 million last year. Carbon Credit Sales (Q2 2026): USD36 million, versus USD42 million in Q2 2025. Retail Network: 235 sales points and 178 retail partners across 28 markets, with retail footprint expanding by 39% year-on-year. New Sales Points (H1 2026): Opened 24 new sale points and signed up 20 new retailers. US Restructuring Impact: Material adjustment of an estimated USD130 million related to the US Department of Commerce decision. Warning! GuruFocus has detected 5 Warning Signs with PSNY. Is PSNY fairly valued? Test your thesis with our free DCF calculator. Release Date: September 03, 2026 For the complete transcript of the earnings call, please refer to the full earnings call transcript. Record first-half retail sales of 30,423 cars, driven by strong demand for the Polestar 4 coupe and expansion of the retail network. Operating loss improved by 43% year-over-year, supported by cost discipline, lower headcount, and a favorable model mix shift toward higher-margin Polestar 4. Strengthened capital structure through $640 million debt-to-equity conversion by Geely Sweden and Volvo Cars, and extension of a $660 million shareholder loan to 2031. Launched the Polestar 4 SUV, which targets the mainstream SUV segment, with over 900 cars already shipped and customer deliveries starting in Q4 2026. Expanded retail footprint by 39% year-over-year, adding 24 new sales points and 20 new retail partners, primarily in Europe. Polestar 5 received exceptional feedback from journalists, positioning the brand as a halo car and enhancing brand perception. US Department of Commerce denied Polestar's application to sell vehicles from model year 2027 onward, leading to a $130 million estimated charge and a halt to new car sales in the US after 2026. Adjusted gross margin remained negative at -9% for H1 2026, impacted by pricing pressure, tariffs, and lower carbon credit sales. Revenue declined 4% year-over-year to $1.36 billion, with Q2 revenue down 8% due to lower volumes and pricing pressure. Cash position decreased to $888 million from $1.159 billion at end of 2025, with operating cash outflow of $850 million in H1 2026. Full-year volume guidance was revised down to low-to-mid single-digit growth, reflecting challenging market conditions and portfolio transition. US market share fell to 6% of retail sales from 9% a year earlier, and the company will not appeal the BIS decision, limiting future growth in that region. Q: Can you provide early indications on demand for the Polestar 4 SUV and the latest reads on the Polestar 5?A: Michael Lohscheller (CEO): The Polestar 4 SUV launch has received very positive feedback as it moves the model into the mainstream SUV segment, which is a significant improvement from the more niche coupe. It is well-received by both fleet and private customers. While it is early days, the company is optimistic. The Polestar 5 is also off to a good start, with first customer deliveries beginning. Its role is more about brand positioning, and it is generating significant attention and test drive interest. Q: Are you able to share volume expectations for 2027 or broad puts and takes?A: Michael Lohscheller (CEO): The company is cautiously optimistic for 2027 due to a different product lineup. The launches of the Polestar 4 SUV and the Polestar 2 successor will target the largest and growing market segments with bigger profit pools. This marks a strategic shift from Polestar's previous focus on niche segments. Precise volume numbers will be provided later, but the importance of these two cars in hitting the "sweet spot" of the market was emphasized. Q: How are you thinking about the unit mix for next year with the Polestar 4 SUV and Polestar 5 launches?A: Michael Lohscheller (CEO): Polestar 4 is currently the best-selling model and will continue to play a dominant role next year with both the SUV and coupe variants. The Polestar 2 successor will also take a prominent role in the second half of 2027 as it ramps up. The Polestar 5, while crucial for brand positioning, will be less significant in terms of overall volume. The Polestar 4 variants and Polestar 2 will be the primary volume drivers in 2027. Q: With a cash position of USD888 million, how are you thinking about capital needs and cash runway?A: Jean-Francois Mady (CFO): The company has significantly strengthened its balance sheet by raising USD1.2 billion in equity over the last 15 months, completing a USD640 million debt-to-equity conversion, and extending a shareholder loan to 2031. They have also renewed or increased USD1.7 billion in banking facilities. For H2 2026, the focus on the Polestar 4 coupe and SUV, which are the most profitable models, along with strong working capital management and a one-third reduction in CapEx, is expected to lead to a significant reduction in cash burn. The company is exploring all opportunities to improve capital funding. Q: Is there an opportunity to appeal the US Department of Commerce's decision to deny authorization to sell vehicles from model year '27 onwards?A: Michael Lohscheller (CEO): No, the company will not appeal and accepts the decision. Polestar will continue to sell model year '26 vehicles in the US but will not be able to sell model year '27 vehicles. The company will remain in the US to continue its service and used car business. For the complete transcript of the earnings call, please refer to the full earnings call transcript.

Interested in Polestar Automotive Holding UK PLC? Here are five stocks we like better. Record sales but lower outlook: Polestar sold 30,423 vehicles in the first half of 2026, supported by the Polestar 4 and expanded retail network, but cut its full-year forecast to low- to mid-single-digit volume growth amid pricing pressure and intensifying EV competition. U.S. regulatory setback: The company will not appeal the U.S. decision barring model-year 2027 vehicle sales, and expects about $130 million in restructuring-related adjustments, with potentially more costs to come. Losses narrowed while liquidity remained pressured: First-half revenue fell 4% to $1.36 billion, but operating and net losses improved year over year. Polestar ended June with $888 million in cash after $850 million of operating cash outflow, while shareholder debt conversions and reduced capital spending supported its funding position. These 2 Big Players Are Set to Compete With Elon Musk’s Starlink Polestar Automotive Holding UK (NASDAQ:PSNY) reported record first-half retail sales as it expanded its retailer-led sales model and increased contributions from its Polestar 4 model, though the electric-vehicle maker lowered its full-year volume outlook amid pricing pressure, regulatory challenges in the U.S. and broader market competition. Chief Executive Officer Michael Lohscheller said Polestar recorded retail sales of 30,423 vehicles in the first half of 2026. The company now expects low- to mid-single-digit volume growth for the full year, revising its outlook to reflect market pressure and portfolio changes. → Boarding Call: EHang Secures First-Mover Altitude ZEEKR Is the Chinese EV Stock to Put on Your Watchlist “Competition in the EV market continues to intensify,” Lohscheller said, citing significant pricing pressure, geopolitical developments and regulatory headwinds in the U.S. A major factor affecting the company was a decision by the U.S. Department of Commerce to deny Polestar’s application for authorization under the Connected Vehicle Rule to sell vehicles in the U.S. from model year 2027 onward. → Medtronic’s Stars Are Aligning for a Price Recovery Polestar Lives to Fight Another Day After Q2 Earnings Lohscheller said Polestar will not appeal the decision. The company plans to continue selling model-year 2026 vehicles in the U.S. and will maintain its service and used-car businesses in the country, but it will not be able to sell model-year 2027 vehicles there. Chief Financial Officer Jean-François Mady said the U.S. restructuring measures associated with the decision resulted in estimated material adjustments of $130 million. The effects were recognized through residual-value-guarantee costs in revenue, inventory adjustments in cost of sales, and organizational, investment and supplier costs in other operating expenses. → Dutch Bros Sell-Off Creates a Growth Opportunity Mady cautioned that additional costs and charges could arise as Polestar completes further assessments of the decision’s effects. Polestar reported first-half revenue of $1.36 billion, down 4% from a year earlier. Mady said the positive effects of volume, vehicle mix and foreign-exchange tailwinds were more than offset by pricing pressure, U.S. residual-value-guarantee costs and lower carbon-credit sales. Carbon-credit sales included in revenue totaled $52 million during the first half, compared with $72 million a year earlier. The company also recorded $4 million of carbon-credit sales in other operating income, compared with $18 million in the prior-year period. Mady attributed the lower revenue from carbon credits primarily to greater competition in Europe, while citing U.S. regulatory changes as a principal reason for the decline in other operating income. Reported gross margin was negative 8%, compared with negative 49% in the year-earlier period, which included a $724 million net impairment expense. Adjusted gross margin was negative 9%. Operating loss narrowed 43% year over year to $629 million. Net loss narrowed 29% to $842 million. Adjusted EBITDA loss was $521 million. Mady said operating results benefited from a vehicle mix shifting toward higher-margin models, led by the Polestar 4; favorable inventory valuation adjustments outside the U.S.; cost-discipline measures; lower headcount spending; and the absence of impairment expenses recorded in the first half of 2025. Those improvements were partly offset by pricing pressure, lower carbon-credit sales, foreign-exchange effects, prior-year one-time gains and U.S. restructuring-related adjustments. Second-quarter retail sales were nearly 17,300 vehicles, down 4% year over year. Quarterly revenue declined 8% to $727 million. Polestar posted a second-quarter net loss of $459 million, an improvement from a net loss of $1.03 billion a year earlier, primarily because no impairment expense was recognized in the latest period. Polestar said its active-selling transformation has expanded its footprint to 235 sales points and 178 retail partners across 28 markets, representing a 39% year-over-year increase in the retail network. During the first half, the company opened 24 sales points and added 20 retailers, with most of the expansion occurring in Europe. Europe represented 78% of retail volume, with the U.K., Germany and Southern Europe cited as particularly strong markets. South Korea led performance in Asia-Pacific. The U.S. represented 6% of first-half retail sales, down from 9% in the same period of 2025, as tariffs and regulatory changes affected the business. The Polestar 4 coupé remained the company’s best-selling model and accounted for two-thirds of volume. Lohscheller said the newly opened order books for the Polestar 4 SUV could broaden the vehicle’s appeal by placing it in a larger mainstream SUV segment. More than 900 units are already en route from the company’s Busan, South Korea, factory, with customer deliveries expected to begin in the fourth quarter. The company is also preparing for initial customer deliveries of its Polestar 5. Lohscheller described the model as a “halo car” intended to support the brand’s positioning, while indicating it will be less significant to total volume than the Polestar 4 variants and the successor to the Polestar 2. Looking toward 2027, Lohscheller said the Polestar 4 SUV and Polestar 2 successor are expected to be the company’s principal volume drivers, as both address larger market segments. The Polestar 2 successor is expected to ramp during the second half of 2027. Polestar ended June with $888 million in cash, down from $1.16 billion at the end of 2025. The company said operating cash outflow was $850 million during the first half, while capital expenditures totaled $211 million. During the period, Geely Sweden and Volvo Cars converted about $640 million of outstanding loans and accrued interest into equity. Volvo Cars also extended the maturity of its remaining $660 million shareholder loan to December 2031. Polestar said it remained in compliance with all covenants at the end of the second quarter. Mady said Polestar raised $1.2 billion of equity over the past 15 months and renewed or increased $1.7 billion in banking facilities during the first half. He added that the company reduced capital-expenditure spending by one-third and expects a significant reduction in cash burn in the second half, while continuing to explore opportunities to improve its funding position. Polestar Automotive Holding UK PLC (NASDAQ: PSNY) is an electric performance car company specializing in the design, development and manufacture of premium electric vehicles. Established as an offshoot of Volvo Car Group’s high-performance Polestar division, the company focuses on delivering a blend of Scandinavian design, advanced electric powertrains and cutting-edge connectivity features. The roots of Polestar date back to 1996 when it operated as Volvo’s in-house tuning and motorsport arm. This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to [email protected]. The article "Polestar Automotive Holding UK Q2 Earnings Call Highlights" was originally published by MarketBeat. View MarketBeat's top stocks for September 2026.

Our analysts just identified a stock with the potential to be the next Nvidia. Tell us how you invest and we'll show you why it's our #1 pick. Tap here. Achieved record first-half retail sales of 30,423 cars despite intense EV market competition and significant pricing pressure. Transitioned from an online-first model to a retailer-led commercial strategy, expanding the retail footprint by 39% year-on-year to 235 sales points. Attributed improved operating losses to cost discipline, lower headcount spend, and a shift toward higher-margin models like the Polestar 4. Acknowledged significant headwinds from U.S. regulatory developments, specifically the Department of Commerce's denial of connected vehicle authorization for model year 2027. Executed a leaner operational framework, focusing on sustainable value and profitability rather than attempting to be 'everything, everywhere'. Strengthened the balance sheet through a $640 million debt-to-equity conversion with Volvo Cars and Geely Sweden, alongside a $700 million equity raise. Updated full-year volume guidance to low to mid-single-digit growth, reflecting market pressure and the ongoing portfolio transition. Anticipates a significant reduction in cash burn for the second half of 2026, driven by lower CapEx and the ramp-up of higher-margin Polestar 4 variants. Expects the Polestar 4 SUV and the upcoming Polestar 2 successor to be the dominant volume and profit drivers in 2027 as they enter larger market segments. Confirmed the start of Polestar 4 SUV customer deliveries in the fourth quarter of 2026, with over 900 units already in transit from the South Korean factory. Projects carbon credit sales to remain weighted toward the second half of the year, following historical seasonal patterns. Recognized a $130 million material adjustment related to the U.S. Department of Commerce (BIS) decision, impacting residual value guarantees and inventory valuation. Confirmed the strategic decision not to appeal the BIS ruling, resulting in the cessation of new vehicle sales in the U.S. from model year 2027 onwards. Noted that while new car sales will cease in the U.S. post-2026, the company will maintain a presence for service and used car operations. Reported a 43% reduction in operating loss, largely due to the absence of the $724 million impairment charge that occurred in the prior year period. One stock. Nvidia-level potential. 30M+ investors trust Moby to find it first. Get the pick. Tap here. Management noted that the Polestar 4 SUV moves the brand from niche segments into the mainstream 'sweet spot' of the market. Early feedback from fleet and private customers is positive, with The Polestar 4 SUV and coupe variants together are expected to be dominant volume drivers in 2027, with the SUV aimed at a broader audience. The Polestar 4 and the Polestar 2 successor are identified as the primary volume drivers for 2027 due to their placement in growing segments. The Polestar 5 will serve as a 'halo car' for brand positioning rather than a primary volume contributor. CFO highlighted that CapEx spending has been cut by approximately one-third to preserve liquidity. The company is exploring further opportunities to improve capital funding but has no specific new measures to announce at this time. Management explicitly stated they will not appeal the U.S. Department of Commerce decision. The company will sell model year 2026 vehicles in the U.S. but will be unable to sell model year 2027 vehicles under current connected vehicle rules.

Record H1 2026 retail sales of 30,423 cars supported by 39% growth of retail network year-on-year Intensified competition and regulatory headwinds, especially in the U.S., impacting financial performance Operating loss reduced by 43% year-on-year, with no impairment expenses recognized in H1 2026 Continued cost discipline measures and lower headcount spend Strengthened capital structure and improved liquidity position Cash position of approx. USD 888 million as of June 30, 2026 2026 guidance: low-to-mid single-digit volume growth GOTHENBURG, Sweden, September 03, 2026--(BUSINESS WIRE)--Polestar (Nasdaq: PSNY) presents its consolidated financial results and operational metrics for the three-month and six-month periods ended June 30, 2026. Michael Lohscheller, Polestar CEO, said: "The operational improvements being implemented across the business are starting to show results. We cut our reported operating loss by 43% in the first half of 2026 versus last year, when a significant net impairment expense impacted our results. Working in a challenging environment, we continue to be disciplined in our execution and focused on improving the business. "Following the opening of orders for Polestar 4 SUV, production has ramped up in Busan, South Korea. The first cars have been shipped from the factory and are set to be delivered to customers during the fourth quarter. The first Polestar 5s are expected to reach customers in the coming weeks - setting us up for an exciting end to the year." Key financial and operational highlights for H1 2026 (year-on-year comparison) Retail sales volumes above the comparable period, supported by continued transition to an active selling model, retail expansion, attractive model line-up and a growing share of Polestar 4 Revenues down (4)% to USD 1,360 million, mainly due to pressure on pricing, residual value guarantee costs, mainly in the U.S. and related to U.S. Restructuring measures following the decision by the U.S. department of Commerce's Bureau of Industry and Security ("the BIS"), and lower carbon credit sales Gross margin of (8)% improved from (49)%, which reflected net impairment expense recognized in H1 2025 Adjusted Gross Margin of (9)% driven by decrease in revenues, the U.S. Restructuring measures and H1 2025 one-off positive impacts Selling, general and administrative expenses stable year-on-year with a decrease in general and administrative expenses Operating loss of USD (629) million and Net loss of USD (842) million improved year-on-year by 43% and 29%, respectively, mainly due to the impairment expense recognized in the prior period Adjusted EBITDA loss of USD (521) million mainly due to higher adjusted gross loss and foreign exchange impacts Cash position of approx. USD 888 million as of June 30, 2026 New equity of USD 700 million raised from external investors Debt-to-equity conversions of approx. USD 640 million of loans outstanding to Geely Sweden and Volvo Cars into Polestar's equity completed Extension of maturity of remaining USD 660 million of Volvo Cars' shareholder loan from December 2028 to December 2031 Largest model offensive in Polestar’s history: four new cars planned in three years, starting in 2026 with Polestar 5 and Polestar 4 SUV Polestar announces launch of sales in the Baltic region 2026 volume guidance updated to low-to-mid single-digit volume growth Guidance Polestar has continued to expand its retail network at pace. The upcoming launch of Polestar 4 SUV in the fourth quarter of 2026, followed by the launch of the successor to Polestar 2 in 2027, are expected to further strengthen the Company's product portfolio. Looking ahead to the second half of 2026, the market environment is expected to remain highly competitive and volatile. Polestar remains focused on delivering quality growth and is updating its 2026 volume guidance to low-to-mid single-digit volume growth from previous low double-digit volume growth. This reflects the performance in the first half of 2026 as well as the expected portfolio transition with the current Polestar 2 approaching the end of its lifecycle and the planned launch of Polestar 4 SUV in the fourth quarter of 2026. The sales mix and channel mix are expected to continue positively evolving, reflecting our stated strategy of entering fast-growing, high-value segments and growing the retail channel through the introduction of four new vehicles over a three-year period beginning in 2026. U.S. Restructuring On June 25, 2026, Polestar announced that it was informed by the U.S. Department of Commerce's Bureau of Industry and Security of its decision to not grant Polestar an authorization under the current Connected Vehicle Rule to sell vehicles in the U.S. from model year 2027 onwards. The Company expects to continue selling previous model years in the U.S. from its inventory after which it will cease the sale of new vehicles, with its remaining activities in the U.S. then expected to focus on supporting customers in the U.S., including providing access to its service network and honoring warranty and other product commitments. As a result of the Bureau of Industry and Security's decision, Polestar has implemented a number of measures affecting its U.S. new vehicles sales operations, including actions relating to employees, dealers and other commercial arrangements (the "U.S. Restructuring"). While Polestar will continue to perform certain activities in the U.S. to support its existing customers, the aforementioned actions, together with the resulting effects on vehicles and related assets, led to material adjustments that are included in the Company’s interim financial statements for the six-month period ended June 30, 2026. Noting the significant judgement and subjectivity involved in arriving at these calculations, in aggregate the Company estimates that the U.S. operations increased its consolidated operating loss by approximately USD 211 million during the six-month period ended June 30, 2026, compared to an increase of approximately USD 110 million in the six-month period ended June 30, 2025, and that the U.S. operations increased its consolidated net loss by approximately USD 211 million during the six-month period ended June 30, 2026, compared to an increase of approximately USD 104 million in the six-month period ended June 30, 2025. For the three-month period ended June 30, 2026, in aggregate the Company estimates that the U.S. operations increased its consolidated operating loss by approximately USD 170 million, compared to an increase of approximately USD 84 million in the three-month period ended June 30, 2025, and that the U.S. operations increased its consolidated net loss by approximately USD 165 million during the three-month period ended June 30, 2026, compared to an increase of approximately USD 78 million in the three-month period ended June 30, 2025. Based on current estimates, approximately USD 130 million of negative adjustments related to the U.S. operations arose as a result of the decision from the U.S. Department of Commerce's Bureau of Industry and Security and are included in the Company's consolidated operating loss and net loss for the three-month and six-month periods ended June 30, 2026. These adjustments primarily related to residual value guarantees costs, net realizable value of inventory, and restructuring provisions related to employees and suppliers/partners costs incurred in the U.S in the reporting period. While these adjustments reflect the Company's assessment of the U.S. Restructuring based on current information, further negative adjustments should be expected in future periods to reflect additional costs related to personnel and inventory as the U.S. Restructuring proceeds through its phases. Key financial highlights The table below summarizes key financial results for the six months ended June 30, 2026: Retail sales totaled 30,423 cars, representing an increase of 0.4% year-on-year (YoY) from 30,289 cars in the comparable period, driven by continued transition to an active selling model, retail expansion and attractive model line-up and a growing share of Polestar 4. Revenue of USD 1,360 million, down by (4.4)% from USD 1,423 million a year earlier, was driven by volumes and product mix, as well as positive foreign exchange impact, which were more than offset mainly by pressure on pricing, residual value guarantee costs mainly in the U.S. and related to the restructuring measures as a result of the BIS's decision, and lower carbon credit sales. Carbon credits sales totaled USD 57 million in the period from USD 90 million a year earlier mainly due to the increased competition in the EU, including USD 4 million worth of carbon credits sales booked in other operating income (H1 2025: USD 18 million) mainly due to regulatory changes in the U.S. Cost of sales decreased to USD (1,475) million, an improvement of 30.6% from USD (2,126) million in H1 2025 primarily driven by net impairment expense of USD (724) million recognized in the first half of 2025. Other cost of sales grew (5.3)% due to higher production costs associated with the carline mix, higher duties on imported cars, parts and components for the EU and the U.S., and smaller product costs reduction due to higher raw materials costs, mainly in batteries. There were as well negative impacts from the U.S. Restructuring measures leading to adjustment of the U.S. inventory to net realizable value and H1 2025 one-off positive impacts, which did not repeat in H1 2026, partially offset by positive adjustment of inventory, outside of the U.S., to net realizable value. Gross margin was a negative (8.4)%, an improvement from (49.4)% in the comparable period, with the H1 2025 gross margin primarily impacted by net impairment expense of USD (724) million. Adjusted Gross Margin at (8.5)%, from 1.4% a year earlier, due to Adjusted Gross Loss of USD (116) million in the period due to lower revenues and higher other cost of sales as detailed above, partially offset by positive margin development due to the carline mix, especially from a growing share of Polestar 4 in the sales mix. Selling, General and Administrative (SG&A) expenses of USD (431) million were a combination of an increase in selling expenses related to sales agent remuneration due to volume and carline mix and higher advertising, selling and promotion activities in the period following launch in France in June 2025 and launch of Polestar 5 in different markets fully compensated by strict cost discipline and positive impact of continued headcount reduction in General and Administrative expenses. Research and development (R&D) expenses decreased to USD (15) million from USD (31) million in the comparable period, driven by reduced headcount and higher capitalization rate on vehicle development programs. Operating loss was USD (629) million, an improvement of 42.6% compared to USD (1,096) million in H1 2025, primarily due to factors described above. Other operating income decreased due to the termination in 2025 of commercial operations of Polestar's investment in Polestar Times Technology, and the related rendering of transition services, as well as lower carbon credits income. Other operating expense was higher due to the U.S. Restructuring measures, mainly related to the U.S. Polestar organizational changes, investments and suppliers. Net foreign exchange losses in H1 2026 versus gains in H1 2025 on operating activities were due to foreign exchange movements: depreciation and appreciation of Swedish krona against Chinese yuan in the first half of 2026 and 2025, respectively. Net loss of USD (842) million improved by 29.4% compared to net loss of USD (1,193) million in H1 2025, driven by factors described above; finance expense was higher on higher levels of outstanding external financing; net foreign exchange losses in H1 2026 versus gains in H1 2025 on financial activities arose from negative FX movements of Chinese yuan and U.S. dollar. Adjusted EBITDA of USD (521) million, increased by USD (219) million from USD (302) million in the comparable period, reflecting the Adjusted Gross Loss in the period impacted by the U.S. Restructuring measures, H1 2025 positive one-off impacts, adverse foreign exchange movements and negative other operating income impacts. Further details are provided in the reconciliation tables for non-GAAP measures in Appendix B. Select results for Q2 2026 The table below summarizes key operational and financial results and provides the year-on-year (YoY) comparison for Q2 2026 results: For the three months ended June 30, 2026: Retail sales totaled 17,296 cars, down (4.0)% YoY from 18,026 cars a year earlier. Revenue of USD 727 million, down by (8.1)% from USD 791 million in the comparable period, driven predominantly by lower retail sales volumes, pressure on pricing, residual value guarantee costs mainly in the U.S. and related to the U.S. Restructuring measures as a result of the BIS's decision, as well as lower carbon credits sales. Carbon credits sales totaled USD 36 million in the period from USD 61 million a year earlier, there were no carbon credits sales booked in other operating income in the period (Q2 2025: USD 19 million) mainly due to regulatory changes in the U.S. Gross margin at (13.1)%, an improvement of 84.0 ppts from (97.1)% a year earlier, mainly due to net impairment expense of USD (724) million recognized in Q2 2025. Adjusted Gross Margin at (13.1)%, from (5.6)% in the comparable period, mainly due to lower revenue, negative impact from the U.S. Restructuring measures resulting in adjustment of the U.S. inventory to net realizable value and Q2 2025 positive one-off impacts, offset by positive margin development due to the carline mix, especially from a growing share of Polestar 4 in the sales mix, and positive adjustment of inventory to net realizable value, excluding in the U.S. market. Net loss of USD (459) million, an improvement of 55.3% compared to net loss of USD (1,027) million for Q2 2025, is mainly due to net impairment expense of USD (724) million recognized in Q2 2025. Adjusted EBITDA Loss of USD (286) million, compared to USD (206) million in Q2 2025, due to Adjusted Gross Loss of USD (95) million impacted by the U.S. Restructuring measures, adverse foreign exchange movements and negative other operating income impacts offset by lower SG&A expenses driven by cost discipline and reduced headcount despite higher sales agent remuneration driven by the carline mix and higher capitalization rate on spend on vehicle development programs. Key operational highlights The table below summarizes key operational results as of and for the three and six months ended June 30, 2026: Retail sales totaled 30,423 cars in H1 2026, representing an increase of 0.4%, compared with 30,289 new cars sold in H1 2025, driven by the transition to an active selling model, retail expansion and Polestar's attractive model line-up and a growing share of Polestar 4. Sales points, excluding China, grew by 39.1%. In H1 2026, Polestar opened 24 new retail sales points with a total of 235 sales points at the end of H1 2026. During H1 2026, Polestar signed up 20 new retailer partners with a total of 178 retail partners, representing an increase of 13%, from the end of 2025. The increase in external sales with a repurchase obligation is primarily related to Polestar 4 cars in Germany, France and the United Kingdom. Polestar increased sales of internal cars to support its retail network expansion. Key cash flow highlights The table below summarizes cash flow for the six months ended June 30, 2026: Operating cash outflow of USD (850) million, mainly driven by the operating loss net of non-cash adjustments, financial interest expenses and a net negative movement in working capital mainly due to negative changes in trade payables partially offset by positive changes in inventory and trade receivables. Investing cash outflow of USD (211) million included additions to property, plant, and equipment as well as intangible assets; investments were predominantly driven by investments in intellectual property and tangible assets related mainly to model year Polestar 3 and Polestar 4 updates, Polestar 5, the new Polestar 4 variant and future car lines. Financing cash inflow of USD 769 million, driven by the new equity raises of a total of USD 700 million in February and March 2026 and net increase in proceeds from borrowings partially offset by repayment of debt financing. Cash position of USD 888 million, compared to the H1 2025 cash position of USD 719 million. Key loan facilities and funding highlights During H1 2026, approx. USD 1.7 billion worth of facilities were either renewed (approx. USD 1.7 billion) or newly secured (approx. USD 60 million). From January to March 2026, Polestar secured USD 0.7 billion of new equity. Since the start of 2026, Geely Sweden and Volvo Cars converted approx. USD 300 and 340 million of loans outstanding to Polestar into Polestar's equity. Volvo Cars extended the maturity of the remaining shareholder loan of USD 660 million to December 2031. On 3 June 2026, Polestar Geely Sweden Holdings AB agreed to extend the term of the outstanding amount of the subordinated term loan facility, which was initially provided to Polestar in December 2025, to 30 June 2027. The Company was in compliance with its covenants as of June 30, 2026. The Company continues to have a constructive dialogue with lenders of the Company’s USD 950 million Club Loan regarding its future club loan obligations. On March 31, 2026, the Club Loan lenders agreed to amend the debt-to-asset ratio range for all test periods for 2026 as well as the minimum revenue covenant for 2026. Polestar complied with Club Loan covenants as of June 30, 2026. With the support from Geely Holding Group, we have implemented significant steps to strengthen balance sheet and improve our debt and liquidity positions, and we continue to consider new equity and debt funding. Key recent developments and business highlights Polestar 4 SUV started sales on September 2 Polestar expands retail presence in Europe through new markets in the Baltics Google Gemini launches in select models and regions Polestar 3 gets 800V upgrade for new model year Polestar 5 receives Autobest award Polestar 5 LCA published Polestar Charge expands offer and grid rewards Polestar 3 named safest Executive Car of 2025 Conference call Management will host a conference call at 14:00 Central European Time (08:00 US Eastern Time) today, accessible via the Polestar Investor Relations website. To join the call, please use this link https://edge.media-server.com/mmc/p/czg84qrx/ or follow the instructions available under Events on the Polestar Investor Relations website. Calendar Polestar expects to report its retail sales volumes for Q3 2026 on October 8, 2026. Polestar expects to publish Q3 2026 select financial results on November 5, 2026 and host an audio call; further details will be available on Polestar's Investor Relations website in due course. Notes All financial figures are in millions of U.S. dollars (USD). Unless otherwise stated, the performance shown in this press release covers the three-month period ended June 30, 2026 (Q2 2026) and is compared to performance during and as of three-month period ended to June 30, 2025 (Q2 2025) and the six-month period ended June 30, 2026 (H1 2026) and is compared to performance during and as of six-month period ended to June 30, 2025 (H1 2025). About Polestar Polestar (Nasdaq: PSNY) is the Swedish electric performance car brand with a focus on uncompromised design and innovation, and the ambition to accelerate the change towards a sustainable future. Headquartered in Gothenburg, Sweden, its cars are available in 31 markets globally across North America, Europe and Asia Pacific. Polestar has five models in its line-up: Polestar 2, Polestar 3, Polestar 4 coupé, Polestar 4 SUV, and Polestar 5. Planned models include the Polestar 2 successor (to be launched in 2027), Polestar 7 compact SUV (to be introduced in 2028) and the Polestar 6 roadster. With its vehicles currently manufactured on two continents, North America and Asia, Polestar plans to diversify its manufacturing footprint further, with production of Polestar 7 planned in Europe. Polestar has an unwavering commitment to sustainability and has set an ambitious roadmap to reach its climate targets: halve greenhouse gas emissions by 2030 per-vehicle-sold and become climate-neutral across its value chain by 2040. Polestar’s comprehensive sustainability strategy covers the four areas of Climate, Transparency, Circularity, and Inclusion. Statement regarding unaudited financial and operational results The unaudited financial and operational information published in this press release is subject to potential adjustments. Potential adjustments to operational and consolidated financial information may be identified from work performed during Polestar’s year-end audit. This could result in differences from the unaudited operational and financial information published herein. For the avoidance of doubt, the unaudited operational and financial information published in this press release should not be considered a substitute for the financial information filed with the SEC in Polestar’s Annual Reports on Form 20-F. Forward-looking statements Certain statements in this press release ("Press Release") may be considered "forward-looking statements" as defined in the Private Securities Litigation Reform Act of 1995. Forward-looking statements generally relate to future events or the future financial or operating performance of Polestar including the number of vehicle deliveries and gross margin. For example, projections of revenue, volumes, margins, cash flow break-even and other financial or operating metrics and statements regarding expectations of future needs for funding and plans related thereto are forward-looking statements. In some cases, you can identify forward-looking statements by terminology such as "may", "should", "expect", "intend", "will", "estimate", "anticipate", "believe", "predict", "potential", "forecast", "plan", "seek", "future", "propose" or "continue", or the negatives of these terms or variations of them or similar terminology. Such forward-looking statements are subject to risks, uncertainties, and other factors which could cause actual results to differ materially from those expressed or implied by such forward looking statements. These forward-looking statements are based upon estimates and assumptions that, while considered reasonable by Polestar and its management, as the case may be, are inherently uncertain. Factors that may cause actual results to differ materially from current expectations include, but are not limited to: (1) Polestar's ability to enter into or maintain agreements or partnerships with its strategic partners, including Volvo Cars and Geely, original equipment manufacturers, vendors and technology providers; (2) Polestar's ability to maintain relationships with its existing suppliers, source new suppliers for its critical components and enter into longer term supply contracts and complete building out its supply chain; (3) Polestar's ability to raise additional funding; (4) Polestar's ability to successfully execute cost-cutting activities and strategic efficiency initiatives; (5) Polestar's estimates of expenses, profitability, gross margin, cash flow, and cash reserves; (6) Polestar's ability to continue to meet stock exchange listing standards; (7) changes in domestic and foreign business, market, financial, political and legal conditions; (8) demand for Polestar's vehicles or car sale volumes, revenue and margin development based on pricing, variant and market mix, cost reduction efficiencies, logistics and growing aftersales; (9) delays in the expected timelines for the development, design, manufacture, launch and financing of Polestar's vehicles and Polestar's reliance on a limited number of vehicle models to generate revenues; (10) increases in costs, disruption of supply or shortage of materials, in particular for lithium-ion cells or semiconductors; (11) risks related to product recalls, regulatory fines and/or an unexpectedly high volume of warranty claims; (12) Polestar's reliance on its partners to manufacture vehicles at a high volume, some of which have limited experience in producing electric vehicles, and on the allocation of sufficient production capacity to Polestar by its partners in order for Polestar to be able to increase its vehicle production volumes; (13) the ability of Polestar to grow and manage growth profitably, maintain relationships with customers and suppliers and retain its management and key employees; (14) risks related to future market adoption of Polestar's offerings; (15) risks related to Polestar's current distribution model and the evolution of its distribution model in the future; (16) the effects of competition and the high barriers to entry in the automotive industry and the pace and depth of electric vehicle adoption generally on Polestar's future business; (17) changes in regulatory requirements (including environmental laws and regulations and regulations related to connected vehicles and Polestar's response to the U.S. government's denial of a specific authorization for the U.S.), governmental incentives, tariffs and fuel and energy prices; (18) Polestar's reliance on the development of vehicle charging networks to provide charging solutions for its vehicles and its strategic partners for servicing its vehicles and their integrated software; (19) Polestar's ability to establish its brand and capture additional market share, and the risks associated with negative press or reputational harm, including from electric vehicle fires; (20) the outcome of any potential litigation, government and regulatory proceedings, tax audits, investigations and inquiries; (21) Polestar's ability to continuously and rapidly innovate, develop and market new products; (22) the impact of the ongoing conflict between Ukraine and Russia and the conflict with Iran and the conflict in the Red Sea; and (23) other risks and uncertainties set forth in the sections entitled "Risk Factors" and "Cautionary Note Regarding Forward-Looking Statements" in Polestar's Form 20-F, and other documents filed, or to be filed, with the SEC by Polestar. Nothing in this Press Release should be regarded as a representation by any person that the forward-looking statements set forth herein will be achieved or that any of the contemplated results of such forward-looking statements will be achieved. You should not place undue reliance on forward-looking statements, which speak only as of the date they are made. Polestar assumes no obligation to update these forward-looking statements, even if new information becomes available in the future, except as may be required by law. Appendix A Appendix B Polestar Automotive Holding UK PLC Non-GAAP Financial Measures Polestar uses both generally accepted accounting principles ("GAAP", i.e., IFRS) and non-GAAP (i.e., non-IFRS) financial measures to evaluate operating performance and for other strategic and financial decision-making purposes. Polestar believes non-GAAP financial measures are helpful to investors as they provide useful perspective on underlying business trends and assist in period-on-period comparisons. These measures also improve the ability of management and investors to assess and compare the financial performance and position of Polestar with those of other companies. These non-GAAP measures are presented for supplemental information purposes only and should not be considered a substitute for financial information presented in accordance with GAAP. The measures are not presented under a comprehensive set of accounting rules and, therefore, should only be read in conjunction with financial information reported under GAAP when assessing Polestar's operating performance. The measures may not be the same as similarly titled measures used by other companies due to possible differences in calculation methods and items or events being adjusted. A reconciliation between non-GAAP financial measures and the most comparable GAAP performance measures is provided below. Non-GAAP financial measures used by management are Adjusted EBITDA, Free Cash Flow, Adjusted Gross Profit / (Loss) and Adjusted Gross Margin. Adjusted EBITDA is calculated as net loss, adjusted to exclude: Fair value change - Earn-out rights and Class C Shares. Finance expense. Finance income. Foreign exchange gains (losses) on financial activities, net. Income tax benefit (expense). Depreciation and amortization1. Impairment of property, plant and equipment, vehicles under operating leases, and intangible assets, net of reversals. Gains (losses) on disposals of investments2. Restructuring costs3; and Unusual other operating income and expenses that are considered rare or discrete events and are infrequent in nature. Management reviews this measure and believes it provides meaningful insight into the core business's underlying operating performance and trends, before the effect of any adjusting items. Free Cash Flow Free Cash Flow is calculated as cash used for operating activities plus cash used to acquire property, plant and equipment and intangible assets. This measure is reviewed by management and management considers it to be a relevant measure for assessing cash generated by operating activities that are available to repay debts and spend on other strategic initiatives. Adjusted Gross Profit / (Loss) and Adjusted Gross Margin Adjusted Gross Profit / (Loss) is calculated as gross loss, adjusted to exclude: (i) expenses arising from the impairment of property, plant and equipment, vehicles under operating leases, and intangible assets; and (ii) unusual other items of income or expense that are considered rare or discrete events and are infrequent in nature. Adjusted Gross Margin is calculated as Adjusted Gross Profit / (Loss) divided by revenue. These measures are reviewed by management and management considers them to be useful measures for assessing Polestar's historical operating performance as they facilitate comparison between periods by excluding the non-cash impairment expense, the measurement of which includes significant assumptions related to future periods. Unaudited reconciliation of Non-GAAP measures View source version on businesswire.com: https://www.businesswire.com/news/home/20260903500553/en/ Contacts Anna GavrilovaHead of Investor [email protected] Ellen BrooméHead of [email protected]

GOTHENBURG, Sweden, September 01, 2026--(BUSINESS WIRE)--Polestar (Nasdaq: PSNY) expects to publish the second quarter select and half-year 2026 unaudited financial results on 3 September 2026, before market open. Management will host a conference call at 14:00 Central European Time (08:00 US Eastern Time) the same day, accessible via the Polestar Investor Relations website. To register and join the call, please use this link https://edge.media-server.com/mmc/p/czg84qrx/ or follow the instructions available under Events on the Polestar Investor Relations website. About Polestar Polestar (Nasdaq: PSNY) is the Swedish electric performance car brand with a focus on uncompromised design and innovation, and the ambition to accelerate the change towards a sustainable future. Headquartered in Gothenburg, Sweden, its cars are available in 31 markets globally across North America, Europe and Asia Pacific. Polestar has four models in its line-up: Polestar 2, Polestar 3, Polestar 4, and Polestar 5. Planned models include Polestar 4 new variant (to be introduced in the last quarter of 2026), Polestar 2 successor (to be launched early in 2027), Polestar 7 compact SUV (to be introduced in 2028) and the Polestar 6 roadster. With its vehicles currently manufactured on two continents, North America and Asia, Polestar is diversifying its manufacturing footprint further, with production of Polestar 7 planned in Europe. Polestar has an unwavering commitment to sustainability and has set an ambitious roadmap to reach its climate targets: halve greenhouse gas emissions by 2030 per-vehicle-sold and become climate-neutral across its value chain by 2040. Polestar’s comprehensive sustainability strategy covers the four areas of Climate, Transparency, Circularity, and Inclusion. Forward-looking statements This press release contains statements that are not historical facts, but rather forward-looking statements within the meaning of Private Securities Litigation Reform Act of 1995. Such forward-looking statements include those that address activities, events or developments that Polestar or its management believes or anticipates may occur in the future. All forward-looking statements are based upon, as applicable, our current expectations, various assumptions and data available from third parties. Our expectations and assumptions are expressed in good faith and we believe there is a reasonable basis for them. However, there can be no assurance that such forward-looking statements will materialize or prove to be correct as forward-looking statements are inherently subject to known and unknown risks, uncertainties and other factors which may cause actual future results, performance or achievements to differ materially from the future results, performance or achievements expressed in or implied by such forward-looking statements. Numerous risks, uncertainties and other factors may cause actual results to differ materially from those set out in the forward-looking statements, including those risks and uncertainties set forth in the sections entitled "Risk Factors" and "Cautionary Note Regarding Forward-Looking Statements" in Polestar’s Form 20-F, and other documents filed, or to be filed, with the U.S. Securities and Exchange Commission by Polestar. For any forward-looking statements contained in this or any other document, we claim the protection of the safe harbor for forward-looking statements contained in the Private Securities Litigation Reform Act of 1995, and we assume no obligation to update publicly or revise any such statements in light of new information or future events, except as required by law. View source version on businesswire.com: https://www.businesswire.com/news/home/20260827953428/en/ Contacts Anna Gavrilova, Head of Investor [email protected] Ellen Broomé, Head of [email protected]

Interested in Polestar Automotive Holding UK PLC? Here are five stocks we like better. Polestar’s first-quarter vehicle deliveries rose 7% year over year to more than 13,100 cars, a record Q1 for the company, with Europe driving most of the growth. Management said the Polestar 4 launch is gaining traction in North America and other markets. Profitability worsened despite stable revenue, as revenue held at $633 million but gross margin fell to negative 3.2% and net loss widened to $383 million. The company blamed pricing pressure, tariffs, lower carbon credit sales and unfavorable vehicle mix. Polestar is pushing a major restructuring and regional manufacturing strategy to offset tariff pressure and improve efficiency. It also plans to expand to about 250 sales points by end-2026 and is awaiting debt-to-equity conversions from Geely Sweden and Volvo Cars to support liquidity. These 2 Big Players Are Set to Compete With Elon Musk’s Starlink Polestar Automotive Holding UK (NASDAQ:PSNY) reported higher first-quarter 2026 vehicle volumes but a wider loss, as management said pricing pressure, tariffs and seasonality offset cost-cutting efforts in a more difficult electric vehicle market. Chief Executive Michael Lohscheller said Polestar delivered more than 13,100 cars in the quarter, up 7% year over year and a record first-quarter figure for the company. Europe accounted for 78% of total sales, with regional volumes up 11%. Lohscheller cited growth of 20% in the U.K., 35% in Germany and 17% in Sweden, while also pointing to strong performance in South Korea and Australia, where he said the Polestar 4 has been successful. → Insider Sales: Top AST SpaceMobile Insider Cuts Postion Over 30% ZEEKR Is the Chinese EV Stock to Put on Your Watchlist In the U.S., Lohscheller said the broader EV market has been affected by the removal of incentives, though he added that the Polestar 4 launch across North America has “started well” with strong media reviews and growing customer interest in Canada and the United States. Chief Financial Officer Jean-François Mady said first-quarter revenue was $633 million, broadly stable from a year earlier. He said higher volumes, led by the Polestar 4, and favorable foreign exchange from the appreciation of the pound sterling and euro against the U.S. dollar helped support revenue. → Light Speed Returns: Corning Cashes In on NVIDIA Growth Polestar Lives to Fight Another Day After Q2 Earnings Those benefits were offset by pricing pressure, vehicle mix, lower carbon credit sales and tariff impacts, Mady said. Polestar 3 represented 9% of first-quarter volume, compared with 20% a year earlier, while Polestar 4 increased to 67% of volume from 49% a year earlier. Carbon credit sales totaled $21 million, down from $29 million in the prior-year quarter. Mady said carbon credit sales are expected to follow a pattern similar to last year, with revenue weighted toward the second half of the year. He reiterated that Polestar expects 2026 carbon credit sales to be in line with 2025 for the full year. → Years in the Making, AMD’s Upside Movement Has Just Begun Gross margin was negative 3.2%, and adjusted gross margin was negative 3.3%. Mady attributed the lower margin mainly to pricing pressure, EU and U.S. tariffs, lower carbon credit sales in the quarter and positive one-time impacts that had benefited the first quarter of 2025. Polestar reported a net loss of $383 million, compared with a net loss of $166 million a year earlier. Mady said the wider loss was driven by factors affecting gross margin and foreign exchange impacts related to Chinese yuan movements on operating and financing liabilities. Adjusted EBITDA loss was $235 million, compared with an adjusted EBITDA loss of $96 million in the prior-year period. Lohscheller said Polestar has accelerated a business model transformation that includes expanding retailer locations, moving toward a single group architecture, consolidating manufacturing into the regions where it operates and creating a leaner organization. The company expects to end 2026 with about 250 sales points globally, up from 150 just over a year ago. In Germany, Polestar has changed its dealer setup and plans to grow from 12 sales points to 30 by 2027. Lohscheller said the company is shifting from smaller, city-center spaces toward full dealerships where customers can take test drives, buy new cars, access service and consider pre-owned vehicles. Polestar has also reduced staffing by about 25% to approximately 1,700 employees, Lohscheller said. He said the company will continue seeking activity-based savings and working with partners on efficiencies in sourcing and manufacturing. First-quarter retail sales exceeded 13,100 cars, up 7% year over year. Revenue was $633 million, broadly stable from the prior-year period. Gross margin was negative 3.2%, while adjusted gross margin was negative 3.3%. Net loss widened to $383 million from $166 million a year earlier. Cash at the end of March 2026 was approximately $676 million. Lohscheller described regional manufacturing as “probably the most significant shift happening in the industry right now” and a key part of Polestar’s future strategy. He said the planned consolidation of Polestar 3 production in South Carolina from two factories to one will support efficiency efforts from the latter part of 2026. For Polestar 4, Lohscheller said adding a new variant to be produced at the Busan, South Korea, factory should support further efficiency gains as volumes grow. He also highlighted the company’s decision to produce the Polestar 7 compact SUV in Europe. Asked about tariffs during the question-and-answer session, Lohscheller said Polestar’s principal mitigation strategy is to manufacture regionally “where our customers are.” He cited the Volvo plant in South Carolina as an example for the U.S. market, along with regional strategies for Asia and the planned European production of Polestar 7. Mady said the year-over-year gross margin comparison was affected by the fact that Polestar began 2025 with a high level of inventory that had already cleared customs, meaning newer tariff impacts were not reflected in first-quarter 2025 sales in the same way. Mady said Polestar was in compliance with all covenants at the end of the first quarter. The company ended March with about $676 million in cash. The change in cash position was driven by higher adjusted EBITDA loss, negative working capital movement and net repayment of financing facilities, partly offset by equity proceeds in the quarter. Mady said inventory levels declined, but the positive impact was more than offset by cash outflows from settling payables. He also said Polestar expects to update the market on a planned debt-to-equity conversion by Geely Sweden of approximately $300 million later this quarter, followed by a second debt-to-equity conversion by Volvo Cars of approximately $65 million. In response to an analyst question about capital runway and the path to free cash flow positivity, Mady said Polestar’s average cash burn in 2025 was $120 million and showed progress from 2024. He said the company is structurally improving through profitability gains, reduced EBITDA losses, working capital improvements and lower expected legacy capital expenditure cash outflows in 2026. Asked about retail expansion and whether it could create upside to the company’s previously referenced low double-digit volume growth outlook for 2026, Lohscheller said the sales-point expansion and product lineup improvements were already embedded in the volume guidance given in February. Lohscheller also highlighted Polestar’s product activity, saying global media test drives had begun for Polestar 5 and that journalist feedback confirmed the car’s positioning around design, performance and sustainability. He said the company’s “product offensive is in full swing,” with additional launches planned after the summer and early next year. Polestar Automotive Holding UK PLC (NASDAQ: PSNY) is an electric performance car company specializing in the design, development and manufacture of premium electric vehicles. Established as an offshoot of Volvo Car Group’s high-performance Polestar division, the company focuses on delivering a blend of Scandinavian design, advanced electric powertrains and cutting-edge connectivity features. The roots of Polestar date back to 1996 when it operated as Volvo’s in-house tuning and motorsport arm. The article "Polestar Automotive Holding UK Q1 Earnings Call Highlights" was originally published by MarketBeat. View MarketBeat's top stocks for May 2026.

Polestar recorded a wider first quarter loss in 2026, with tariffs, pricing pressure and currency movements dragging margins into negative territory despite the electric vehicle maker achieving record retail volumes. The EV manufacturer posted a net loss of $383m for the three months to 31 March 2026, a 130.7% deterioration year-on-year (YoY). The adjusted earnings before interest, taxes, depreciation, and amortisation (EBITDA) loss widened significantly to $235m from $96m. Revenue was little changed at $633m, compared with $632m a year earlier. While higher vehicle volumes and favourable sterling and euro movements against the dollar provided some support, these were offset by weaker pricing, a shift towards lower-margin products and reduced carbon credit revenues. Carbon credit sales fell to $21m from $29m in the prior-year quarter. Retail sales rose 7% YoY to 13,126 vehicles, up from 12,263 units, driven partly by stronger demand for the Polestar 4. The company's sales network grew to 230 points across 28 markets, from 159 a year earlier. It plans to introduce four new vehicle models over the next three years. On the financial side, Polestar renewed more than $1.4bn in financing facilities during the quarter, comprising a €400m ($470.8m) Green Trade Finance Facility and around $950m in working capital arrangements. It also secured $700m in new equity from Sumitomo Mitsui Banking Corporation, Standard Chartered Bank (Hong Kong), Crédit Agricole CIB and Vida France S.A. Separately, shareholders Geely Sweden Holdings and Volvo Cars agreed to convert approximately $639m in shareholder loans into equity, while Volvo Cars extended a remaining $726m shareholder loan to December 2031. Polestar said it was compliant with all financing covenants as of the quarter-end, following amendments to its $950m club loan facility. Polestar CEO Michael Lohscheller said: “The first quarter saw us deliver strong volume growth in a very competitive market. With implemented steps to improve our cost base being offset by more challenging market conditions, we are accelerating efforts to adjust our business model, become leaner and improve manufacturing efficiencies. “Commercially, our focus remains on scaling our business by expanding our retail network, especially in Europe, with plans to reach 250 sales points globally by the end of 2026. This will help us capitalise on our growing model line-up, which targets wider, more profitable segments.” "Polestar first quarter loss widens on tariffs and pricing pressure" was originally created and published by Just Auto, a GlobalData owned brand. The information on this site has been included in good faith for general informational purposes only. It is not intended to amount to advice on which you should rely, and we give no representation, warranty or guarantee, whether express or implied as to its accuracy or completeness. You must obtain professional or specialist advice before taking, or refraining from, any action on the basis of the content on our site.

This article first appeared on GuruFocus. Volume Growth: Increased by 7% to over 13,100 cars in Q1 2026. Revenue: $633 million, broadly stable year-on-year. Gross Margin: Negative 3.2%; adjusted gross margin negative 3.3%. Net Loss: $383 million, compared to $166 million a year earlier. Adjusted EBITDA Loss: $235 million, compared to $96 million in the prior period. Carbon Credit Sales: $21 million in Q1 2026, down from $29 million in Q1 2025. Cash Position: Approximately $676 million at the end of March 2026. Sales Points Expansion: Expected to grow from 150 to approximately 250 globally by the end of 2026. Staff Reduction: Reduced by about 25% to approximately 1,700 employees. Warning! GuruFocus has detected 8 Warning Signs with PSNY. Is PSNY fairly valued? Test your thesis with our free DCF calculator. Release Date: May 07, 2026 For the complete transcript of the earnings call, please refer to the full earnings call transcript. Polestar Automotive Holding UK PLC (NASDAQ:PSNY) achieved a 7% increase in vehicle volumes in Q1 2026, reaching over 13,100 cars, marking a record first quarter for the company. The company experienced significant growth in key European markets, with sales increasing by 20% in the UK, 35% in Germany, and 17% in Sweden. Polestar's retail expansion is on track, with plans to increase global sales points from 150 to approximately 250 by the end of 2026. The company is focusing on regional manufacturing to mitigate tariff impacts, with plans to produce Polestar 7 in Europe and consolidate Polestar 3 production in South Carolina. Polestar is actively reducing organizational complexity and costs, having decreased staff by about 25% and continuing to implement leaner operational strategies. Despite volume growth, Polestar reported a negative gross margin of 3.2% and an adjusted gross margin of 3.3% due to pricing pressures and tariff impacts. The company faced a net loss of $383 million in Q1 2026, compared to a net loss of $166 million a year earlier, influenced by foreign exchange impacts and lower carbon credit sales. Polestar's cash position decreased to approximately $676 million at the end of March 2026, driven by higher adjusted EBITDA loss and net repayment of financing facilities. The EV market in the USA has been impacted by the removal of incentives, affecting Polestar's performance in the region. Polestar's SG&A expenses increased due to higher sales agent remuneration and one-off personnel-related costs, impacting overall financial performance. Q: As Polestar expands to 250 sales points by the end of the year and ramps up Polestar 4, how should we think about the ASP and mix trends throughout 2026, especially given tariffs and intensified EV competition? A: Michael Lohscheller, CEO: The expansion of retail locations is a linear development, adding locations monthly, which brings us closer to customers, especially in the private retail channel. This aligns well with the Polestar 4 SUV launch in the second half. Jean-Francois Mady, CFO: The new sales points will help improve ASP as the private sales channel, which requires fewer discounts, develops. The launch of the Polestar 4 SUV will further support this trend. Q: Can you discuss the balance sheet, given the cash on hand and the burn rate? How do you see the capital runway and milestones on the path to free cash flow positivity? A: Jean-Francois Mady, CFO: In 2025, we had an average cash burn of $120 million, showing progress. We are improving profitability, cutting EBITDA loss, and reducing inventory. In Q1 2026, cash consumption was affected by seasonality, cash outflows, and net repayment of financing, but we are making progress in managing cash flow and inventory. We expect cash burn to improve with better seasonality and profitability in upcoming quarters. Q: Can you help us understand the impacts on gross margin from pricing pressure and tariffs, and what is Polestar's tariff mitigation strategy? A: Michael Lohscheller, CEO: Our strategy is to manufacture regionally, such as using the Volvo plant in South Carolina for the U.S. market. This regional production helps mitigate tariff impacts. Jean-Francois Mady, CFO: The increased competition has pressured pricing, impacting gross margin. Tariffs affected us as we moved to a steady state, and lower CO2 credit sales also impacted margins. However, CO2 credit sales are expected to align with 2025 levels by year-end. Q: How does the retail expansion impact sales channels, and could this present upside to your growth volume guidance for this year? A: Michael Lohscheller, CEO: The increased number of retail locations brings us closer to private customers and smaller fleets, which is embedded in our volume guidance. Along with our improved product lineup, these factors support our growth projections. Q: Are there any benefits from recent tariff changes, such as the AIBA decision, and what is Polestar's approach to tariff mitigation? A: Michael Lohscheller, CEO: Our principal strategy is regional manufacturing to mitigate tariffs, such as producing in the U.S. and Europe. Jean-Francois Mady, CFO: The gross margin was impacted by pricing pressure and tariffs, but we are adjusting our strategies to manage these challenges effectively. For the complete transcript of the earnings call, please refer to the full earnings call transcript.

Record first quarter volumes of 13,126 cars, a growth of 7% year-on-year Largest product offensive launched: four new models planned in next three years Performance impacted by intensified competition, EU and US tariffs, FX and seasonality offsetting continued cost reductions Strengthened capital structure and improved liquidity position Cash position of USD 676 million as of end Q1 2026 GOTHENBURG, Sweden, May 07, 2026--(BUSINESS WIRE)--Polestar (Nasdaq: PSNY) reports select unaudited financial and operational results for the quarter ended March 31, 2026 (Q1 2026). Michael Lohscheller, Polestar CEO, said: "The first quarter saw us deliver strong volume growth in a very competitive market. With implemented steps to improve our cost base being offset by more challenging market conditions, we are accelerating efforts to adjust our business model, become leaner and improve manufacturing efficiencies. "Commercially, our focus remains on scaling our business by expanding our retail network, especially in Europe, with plans to reach 250 sales points globally by the end of 2026. This will help us capitalise on our growing model line-up, which targets wider, more profitable segments. Deliveries of the new Polestar 4 variant are planned to start during the latter part of the year, closely followed by the all-new Polestar 2 in 2027 and thereafter Polestar 7 compact SUV." Key financial highlights Retail sales totaled an estimated 13,126 cars, up 7.0% YoY from 12,263 cars a year earlier, supported by continuous retail expansion, an attractive model line-up, and growing sales of Polestar 4. Revenue of USD 633 million, up 0.2% from USD 632 million in the comparable period, driven predominantly by higher volumes and positive foreign exchange impact related to the pound sterling and euro movements against the U.S. dollar offset mainly by significant pressure on pricing, the product mix, which included fewer Polestar 3 cars but more Polestar 4 vehicles and lower carbon credits sales. Carbon credits sales totaled USD 21 million in the period down from USD 29 million a year earlier, of which USD 17 million was booked as revenue and USD 4 million was booked in other operating income. Gross margin at (3.2)%, from 10.3% in Q1 2025, and Adjusted Gross Margin at (3.3)%, from 10.3% in Q1 2025, due mainly to further pressure on pricing, EU and US tariffs, lower carbon credits sales and one-off impacts, partially offset by growth in volumes, an increasing share of higher margin Polestar 4 in the product mix and continued product cost reduction. Net loss of USD (383) million, compared to net loss of USD (166) million a year earlier, driven by gross loss result, and mainly the negative foreign exchange impact related to Chinese yuan movements on operating and financing liabilities. Selling, General and Administrative (SG&A) expenses were impacted by higher sales agent remuneration linked to growth of volumes, one-off personnel-related costs and the timing of marketing events despite ongoing strict cost discipline across SG&A; Research and Development (R&D) expenses were stable. Adjusted EBITDA of USD (235) million, compared to adjusted EBITDA of USD (96) million in the comparable period, due mainly to gross loss result, factors mentioned above and negative foreign exchange movements on operating liabilities. Cash position of USD 676 million compared to USD 1,159 million as of December 31, 2025. The change in the cash position was primarily driven by Adjusted EBITDA loss, net negative movement in working capital and net repayment of financing facilities offset by equity proceeds in the first quarter of 2026. While inventory levels reduced, this positive impact on working capital was more than offset by cash outflows from settlement of payables. Further details are provided in the reconciliation table for non-GAAP measures in Appendix A. Key operational highlights The table below summarizes key operational highlights for the three months ended March 31, 2026: Sales points continue to grow, as the transition to an active selling model continues and we ramp up retail expansion. In Q1 2026, Polestar opened 19 new retail sales points bringing the total to 230 sales points at the end of Q1 2026. During the same period, Polestar signed up 14 new retailers, to reach the total of 172 retail partners, an increase of 8.9% from the end of December 2025. The increase in external sales with a repurchase obligation is primarily related to the commercial activity in the German market. Polestar increased sales of internal cars to support its retail network expansion in Europe. Key loan facilities and funding highlights Over USD 1.4 billion worth of facilities renewed in Q1 2026 In February 2026, Green Trade Finance Facility (TFF) with a syndicate of global banks restructured and renewed for EUR 400 million. Additionally, approximately USD 570 million in working capital loans were renewed. In March 2026, approx. USD 380 million in working capital facilities were renewed. An additional EUR 50 million to Green Trade Finance Facility (TFF) has been credit-approved by Fubon Bank (Hong Kong) Limited, subject to completion of the relevant syndicate documentation. As previously announced, during Q1 2026, Polestar secured a total of USD 0.7 billion of new equity from several financial institutions. Concurrent with their equity investments, these financial institutions each entered into a put option arrangement with a wholly-owned subsidiary of Geely Sweden Holdings AB. These equity investments consist of the following: In February 2026, Polestar secured USD 400 million from Feathertop Funding Limited, a special purpose vehicle consolidated to Sumitomo Mitsui Banking Corporation, and Standard Chartered Bank (Hong Kong) Limited. In March 2026, Polestar secured USD 300 million from investors including Credit Agricole CIB, Vida France S.A., Innovator Limited and Proximaster Holdings Company. Geely Sweden and Volvo Cars agreed to convert approx. USD 639 million of loans outstanding to Polestar into equity with USD 274 million converted by Volvo Cars on March 31, 2026; Geely Sweden is expected to convert approx. USD 300 million and Volvo Cars is expected to convert approx. USD 65 million later in Q2 2026. On March 31, 2026, Volvo Cars extended the remaining USD 726 million shareholder loan to December 2031. As previously announced regarding the Company’s USD 950 million ‘Club loan’, by end of Q1 2026, the revenue and debt-to-asset ratio covenant tests have been agreed upon and amended for Q1 2026 and the remaining test periods of 2026. The Company was in compliance with all its covenants as of March 31, 2026. With the support from Geely Holding Group, we have implemented significant steps to strengthen our balance sheet and improve our debt and liquidity positions, and we continue to consider new equity and debt funding. Conference call Michael Lohscheller, CEO, and Jean-Francois Mady, CFO, will host a conference call today, May 7, 2026, at 14:00 CET. To join the call, please use this link https://edge.media-server.com/mmc/p/tii8h4jg or follow the instructions available under Events on the Polestar Investor Relations website. Publication of UK Annual Report and Accounts The Company's UK Annual Report and Accounts has been published and is available to download via the Investor Relations website: https://investors.polestar.com/financial-information/annual-reports. Notes All financial figures are in millions of U.S. dollars (USD). Unless stated otherwise, the performance shown in this press release covers the three-month period ended March 31, 2026 (Q1 2026), compared to the three-month period ended March 31, 2025 (Q1 2025). Calendar Polestar expects to report its retail sales volumes for Q2 2026 on July 9, 2026. About Polestar Polestar (Nasdaq: PSNY) is the Swedish electric performance car brand with a focus on uncompromised design and innovation, and the ambition to accelerate the change towards a sustainable future. Headquartered in Gothenburg, Sweden, its cars are available in 28 markets globally across North America, Europe, and Asia Pacific. Polestar has four models in its line-up: Polestar 2, Polestar 3, Polestar 4, and Polestar 5. Planned models include Polestar 4 new variant (to be introduced in the last quarter of 2026), Polestar 2 successor (to be launched early in 2027), Polestar 7 compact SUV (to be introduced in 2028) and the Polestar 6 roadster. With its vehicles currently manufactured on two continents, North America and Asia, Polestar is diversifying its manufacturing footprint further, with production of Polestar 7 planned in Europe. Polestar has an unwavering commitment to sustainability and has set an ambitious roadmap to reach its climate targets: halve greenhouse gas emissions by 2030 per-vehicle-sold and become climate-neutral across its value chain by 2040. Polestar’s comprehensive sustainability strategy covers the four areas of Climate, Transparency, Circularity, and Inclusion. Statement regarding unaudited financial and operational results The unaudited financial and operational information published in this press release is subject to potential adjustments. Potential adjustments to operational and consolidated financial information may be identified from work performed during Polestar’s year-end audit. This could result in differences from the unaudited operational and financial information published herein. For the avoidance of doubt, the unaudited operational and financial information published in this press release should not be considered a substitute for the financial information filed with the SEC in Polestar’s Annual Reports on Form 20-F. Forward-looking statements Certain statements in this press release ("Press Release") may be considered "forward-looking statements" as defined in the Private Securities Litigation Reform Act of 1995. Forward-looking statements generally relate to future events or the future financial or operating performance of Polestar including the number of vehicle deliveries and gross margin. For example, projections of revenue, volumes, margins, cash flow break-even and other financial or operating metrics and statements regarding expectations of future needs for funding and plans related thereto are forward-looking statements. In some cases, you can identify forward-looking statements by terminology such as "may", "should", "expect", "intend", "will", "estimate", "anticipate", "believe", "predict", "potential", "forecast", "plan", "seek", "future", "propose" or "continue", or the negatives of these terms or variations of them or similar terminology. Such forward-looking statements are subject to risks, uncertainties, and other factors which could cause actual results to differ materially from those expressed or implied by such forward looking statements. These forward-looking statements are based upon estimates and assumptions that, while considered reasonable by Polestar and its management, as the case may be, are inherently uncertain. Factors that may cause actual results to differ materially from current expectations include, but are not limited to: (1) Polestar’s ability to enter into or maintain agreements or partnerships with its strategic partners, including Volvo Cars and Geely, original equipment manufacturers, vendors and technology providers; (2) Polestar’s ability to maintain relationships with its existing suppliers, source new suppliers for its critical components and enter into longer term supply contracts and complete building out its supply chain; (3) Polestar’s ability to raise additional funding; (4) Polestar’s ability to successfully execute cost-cutting activities and strategic efficiency initiatives; (5) Polestar’s estimates of expenses, profitability, gross margin, cash flow, and cash reserves; (6) Polestar’s ability to continue to meet stock exchange listing standards; (7) changes in domestic and foreign business, market, financial, political and legal conditions; (8) demand for Polestar’s vehicles or car sale volumes, revenue and margin development based on pricing, variant and market mix, cost reduction efficiencies, logistics and growing aftersales; (9) delays in the expected timelines for the development, design, manufacture, launch and financing of Polestar’s vehicles and Polestar’s reliance on a limited number of vehicle models to generate revenues; (10) increases in costs, disruption of supply or shortage of materials, in particular for lithium-ion cells or semiconductors; (11) risks related to product recalls, regulatory fines and/or an unexpectedly high volume of warranty claims; (12) Polestar’s reliance on its partners to manufacture vehicles at a high volume, some of which have limited experience in producing electric vehicles, and on the allocation of sufficient production capacity to Polestar by its partners in order for Polestar to be able to increase its vehicle production volumes; (13) the ability of Polestar to grow and manage growth profitably, maintain relationships with customers and suppliers and retain its management and key employees; (14) risks related to future market adoption of Polestar’s offerings; (15) risks related to Polestar’s current distribution model and the evolution of its distribution model in the future; (16) the effects of competition and the high barriers to entry in the automotive industry and the pace and depth of electric vehicle adoption generally on Polestar’s future business; (17) changes in environmental laws, regulatory requirements (including existing regulations related to connected vehicles as well as impacts from potential or existing laws and regulations that may prevent the importation of certain electric vehicles into the US), governmental incentives, tariffs (including potentially higher than expected tariffs if customs authorities determine a vehicle does not qualify for a lower tariff due to the origin of component parts) and fuel and energy prices; (18) Polestar’s reliance on the development of vehicle charging networks to provide charging solutions for its vehicles and its strategic partners for servicing its vehicles and their integrated software; (19) Polestar’s ability to establish its brand and capture additional market share, and the risks associated with negative press or reputational harm, including from electric vehicle fires; (20) the outcome of any potential litigation, including litigation involving Polestar and Gores Guggenheim, Inc., government and regulatory proceedings, including the NHTSA investigation into the Polestar 2 rear view camera, tax audits, investigations and inquiries; (21) Polestar’s ability to continuously and rapidly innovate, develop and market new products; (22) the impact of the ongoing conflict between Ukraine and Russia and the conflict with Iran and the conflict in the Red Sea; and (23) other risks and uncertainties set forth in the sections entitled "Risk Factors" and "Cautionary Note Regarding Forward-Looking Statements" in Polestar’s Form 20-F, and other documents filed, or to be filed, with the SEC by Polestar. There may be additional risks that Polestar presently does not know or that Polestar currently believes are immaterial that could also cause actual results to differ from those contained in the forward-looking statements. Nothing in this Press Release should be regarded as a representation by any person that the forward-looking statements set forth herein will be achieved or that any of the contemplated results of such forward-looking statements will be achieved. You should not place undue reliance on forward-looking statements, which speak only as of the date they are made. Polestar assumes no obligation to update these forward-looking statements, even if new information becomes available in the future, except as may be required by law. APPENDIX A Polestar Automotive Holding UK PLC Non-GAAP Financial Measures Polestar uses both generally accepted accounting principles ("GAAP," i.e., IFRS) and non-GAAP (i.e., non-IFRS) financial measures to evaluate operating performance and for other strategic and financial decision-making purposes. Polestar believes non-GAAP financial measures are helpful to investors as they provide useful perspective on underlying business trends and assist in period-on-period comparisons. These measures also improve the ability of management and investors to assess and compare the financial performance and position of Polestar with those of other companies. These non-GAAP measures are presented for supplemental information purposes only and should not be considered a substitute for financial information presented in accordance with GAAP. The measures are not presented under a comprehensive set of accounting rules and, therefore, should only be read in conjunction with financial information reported under GAAP when assessing Polestar's operating performance. The measures may not be the same as similarly titled measures used by other companies due to possible differences in calculation methods and items or events being adjusted. A reconciliation between non-GAAP financial measures and the most comparable GAAP performance measures is provided below. Non-GAAP financial measures used by management are Adjusted EBITDA, Free Cash Flow, Adjusted Gross Profit / (Loss) and Adjusted Gross Margin. Adjusted EBITDA is calculated as net loss, adjusted to exclude: Fair value change - Earn-out rights and Class C Shares; Finance expense; Finance income; Foreign exchange gains (losses) on financial activities, net; Income tax benefit (expense); Depreciation and amortization1; Impairment of property, plant and equipment, vehicles under operating leases, and intangibles assets, net of reversals; Gains (losses) on disposals of investments2; Restructuring costs3; and Unusual other operating income and expenses that are considered rare or discrete events and are infrequent in nature. Management reviews this measure and believes it provides meaningful insight into the core business's underlying operating performance and trends, before the effect of any adjusting items. Free Cash Flow Free Cash Flow is calculated as cash used for operating activities plus cash used to acquire property, plant and equipment and intangible assets. This measure is reviewed by management and management considers it to be a relevant measure for assessing cash generated by operating activities that are available to repay debts and spend on other strategic initiatives. Adjusted Gross Profit / (Loss) and Adjusted Gross Margin Adjusted Gross Profit / (Loss) is calculated as gross profit / (loss), adjusted to exclude: (i) expenses arising from the impairment of property, plant and equipment, vehicles under operating leases, and intangible assets; and (ii) unusual other items of income or expense that are considered rare or discrete events and are infrequent in nature. Adjusted Gross Margin is calculated as Adjusted Gross Profit / (Loss) divided by revenue. These measures are reviewed by management and management considers them to be useful measures for assessing Polestar's historical operating performance as they facilitate comparison between periods by excluding the non-cash impairment expense, the measurement of which includes significant assumptions related to future periods, and other items which are considered rare or discrete. Unaudited reconciliation of Non-GAAP measures View source version on businesswire.com: https://www.businesswire.com/news/home/20260507811327/en/ Contacts Anna Gavrilova Head of Investor Relations [email protected] Theo Kjellberg Head of Corporate Communications [email protected]

U.S. and E.U. tariffs combined with pricing pressure overwhelmed any benefit from increased sales volumes at Polestar, which disclosed a first-quarter net loss of $383 million on Thursday — more than twice the $166 million it lost in the same period last year. The company said its gross margin dropped to negative 3.2%, down from a positive 10.3% in the first quarter of 2025. Adjusted EBITDA also worsened, falling to negative $235 million from negative $96 million in the same period. Total revenue was $633 million, about the same as last year. Revenue growth was limited by a shift toward the lower-priced Polestar 4 and away from the Polestar 3, as well as ongoing pricing pressure. These challenges were partly offset by higher sales volumes and favorable currency effects from the pound and euro. Carbon credit revenue also dropped to $17 million from $29 million a year ago. Retail sales increased by 7% to 13,126 vehicles, up from 12,263 a year ago. This growth was driven by the company’s expanding retail network and higher demand for the Polestar 4. Polestar opened 19 new sales points during the quarter, bringing the total to 230. The company said higher selling, general, and administrative expenses were due to more commissions from higher sales, some one-time personnel costs, and the timing of marketing activities. Research and development expenses stayed about the same. CEO Michael Lohscheller offered no financial guidance for the year. "With implemented steps to improve our cost base being offset by more challenging market conditions, we are accelerating efforts to adjust our business model, become leaner and improve manufacturing efficiencies," he said in a statement. At the end of the quarter, Polestar had $676 million in cash, down from $1.16 billion at the end of December 2025. The drop was mainly due to the adjusted EBITDA loss, negative working capital changes, and repaying financing facilities, partly balanced by new equity raised during the quarter. During the quarter, the company raised $700 million in new equity from several financial institutions. This included $400 million from a special purpose vehicle linked to Sumitomo Mitsui Banking Corporation and Standard Chartered Bank (Hong Kong) Limited in February, and $300 million from a group of investors including Credit Agricole CIB in March. Geely Sweden Holdings and Volvo Cars also agreed to convert about $639 million in outstanding loans into equity, with Volvo Cars converting $274 million on March 31. On the product side, Polestar said it plans four new models over the next three years, including a new Polestar 4 variant later in 2026, an all-new Polestar 2 in early 2027, and the compact Polestar 7 SUV in 2028. Thursday morning premarket trading saw Polestar shares decline 4.3%, according to Reuters.