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Polestar

This article is about the car manufacturer. For the celestial body, see Pole star. For other uses, see Polestar (disambiguation).

Polestar Automotive Holding UK PLC
Company typePublic limited company
Nasdaq: PSNY
Founded2017 (2017)
HeadquartersGothenburg, Sweden
Area served
Worldwide
Key people
ProductsElectric vehicle
RevenueIncrease US$2.46 billion (2022)
Decrease −US$1.3 billion (2022)
Increase −US$466 million (2022)
Total assetsIncrease US$3.94 billion (2022)
Total equityIncrease US$134 million (2022)
OwnerVolvo Cars (49.5%)
Number of employees
2,377 (December 2022)
Websitepolestar.com
Footnotes / references
[1][2]
Polestar
OwnerVolvo Cars and Chinese Geely
CountrySweden
Introduced2005 (2005)
Previous ownersPolestar Racing (2005–2015)

Polestar is a Swedish automotive manufacturer that produces electric vehicles. Owned by Volvo Cars, the company is headquartered in Torslanda outside Gothenburg, Sweden.[3] Polestar produces cars in several countries including China, the US, and South Korea, in facilities owned by Volvo Cars and Geely.[4][5]

The brand originated from Flash Engineering, a Swedish motorsport team established in 1996 that competed in the Scandinavian Touring Car Championship. In 2005, the team was sold then rebranded to Polestar Racing, which later operated a production car tuning division called Polestar Performance AB.[6][7] In July 2015, the Polestar brand was acquired by Volvo Cars.[8] The racing team was then rebranded to Cyan Racing, while still maintaining close ties to Volvo.[9]

The current holding company of Polestar was jointly formed in 2017 by Volvo Cars and Zhejiang Geely Holding Group.[10] Polestar shares began trading on the Nasdaq exchange under the symbol PSNY on 24 June 2022 through a business combination agreement.[11][12]

  1. ^ "Polestar Automotive Holding UK PLC 2022 Annual Report (Form 20-F)". U.S. Securities and Exchange Commission. 14 April 2023. pp. 98, F-5, F-6. Archived from the original on 29 June 2023. Retrieved 28 June 2023.
  2. ^ "Volvo Cars increases shareholding in Polestar to 49.5 per cent" (Press release). Media.volvocars.com. Archived from the original on 19 December 2021. Retrieved 3 June 2022.
  3. ^ "Polestar inaugurates new headquarters in Sweden" (Press release). Polestar. Retrieved 29 November 2019.[permanent dead link]
  4. ^ "Polestar Bets on US, Korea to Avoid 'Made in China' EV Tariffs". Bloomberg.com. 9 November 2023. Retrieved 4 January 2024.
  5. ^ Cole, Dani (17 November 2023). "Polestar 4 China production starts". Just Auto. Retrieved 4 January 2024.
  6. ^ "Volvo S60 Polestar Limited Edition". Polestar AB. 2013. Archived from the original on 27 August 2013. Retrieved 27 February 2019.
  7. ^ "Polestar Performance gives your Volvo more performance". Polestar AB. Archived from the original on 18 April 2013. Retrieved 23 January 2013.
  8. ^ "Polestar announces new management team" (Press release). Polestar. Retrieved 29 November 2019.[permanent dead link]
  9. ^ "History". Cyan Racing. Archived from the original on 8 December 2015. Retrieved 4 December 2015.
  10. ^ "Report of Foreign Private Issuer Pursuant to Rule 13a-16 Or 15d-16 Under the Securities Exchange Act of 1934 for the Month of July, 2022 - Commission File Number: 001-41431 - Polestar Automotive Holding UK PLC". Polestar. United States Securities and Exchange Commission. Retrieved 22 January 2024.
  11. ^ "Polestar lists successfully on Nasdaq" (Press release). investors.polestar.com. Archived from the original on 24 June 2022. Retrieved 24 June 2022.
  12. ^ Hawkins, Andrew J. (27 September 2021). "Electric car company Polestar is going public via SPAC". The Verge. Archived from the original on 27 September 2021. Retrieved 27 September 2021.

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