A major milestone for Polestar and our development: securing one billion dollars in external funding, providing us with the resources to complete the next phase of our development, where we grow from being a one-car-company to a line-up of #Polestar2, 3, 4 and 5. With secured funding and #Polestar3 and #Polestar4 both in production, we are making major progress this year: towards cash flow break even in 2025. Our model line-up positions Polestar as the performance car brand in the electric age and with todays news, we look with great confidence into the future of our company.

Polestar is at one of the most exciting points of its history. We have built a global performance car brand from scratch and invested in the foundation for our future growth: -Polestar 3 and Polestar 4 are set to accelerate our development during 2024. -Polestar 5 will reinforce the long-term position of the Polestar brand as a leading performance car company. The details of the transaction announced by Volvo Cars today outline a more defined and diversified ownership structure for Polestar. This positions us as a strong, more independent brand in the Group’s ecosystem, with Geelys full operational and financial support going forward. At the same time as this transaction allows us to welcome new shareholders, our relationship with Volvo Cars remains, as they retain 18% of our shares. Our customers will continue to benefit from our existing collaboration, including commercial operations and after sales - providing piece of mind and consistency. These are exciting times for our company. As we enter the next phase of our development, we do so with great confidence that stems from our exceptional foundation, great cars and shareholder support! Polestar CEO Thomas Ingenlath