PSNY News & Events

Polestar (PSNY) announces that Geely Sweden Holdings and Volvo Cars completed previously announced debt-to-equity conversions. On 30 June, approximately $300M and $66M of their respective outstanding shareholder loans were converted into Polestar's equity. This brings the total of debt converted by the parties into Polestar's equity to approximately $640M since the beginning of 2026. As previously announced, the remaining approximately $660M of Volvo Cars' shareholder loan matures in December 2031. On 3 June, Polestar and Geely Sweden Holdings 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. Following the completion of the relevant loan documentation, on 5 June, the Green Trade Finance Facility was increased by an additional EUR 50M to EUR 450M through the addition of Fubon Bank as a new member of the TFF syndicate. Standard Chartered Bank continues to act as Structuring Bank and Facility Agent for the TFF.

Polestar is down -10.8%, or -$2.18 to $17.99.

Polestar is increasing its strategic focus on Europe, which currently represents close to 80% of the Company's retail sales volumes, by continuing to expand its sales network and preparing to localize the manufacturing of future models. This follows a decision from the U.S. Department of Commerce's Bureau of Industry and Security 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 will continue to sell existing stock of Polestar 3 and Polestar 4 in the U.S. and will continue to support customers, including providing access to its service network.

Polestar is down -16.1%, or -$3.72 to $19.36.