GOTHENBURG, Sweden–Polestar (Nasdaq: PSNY), the Swedish electric performance car brand, has announced the successful renewal of its €480 million Green Trade Finance Facility, alongside securing a new USD 450 million term facility. This financial boost underlines investor confidence in Polestar’s strategic direction and its commitment to sustainable electric vehicle (EV) innovation. The €480 million Green Trade Finance Facility (TFF), equivalent to approximately $518 million USD based on current exchange rates, will be instrumental in supporting Polestar’s working capital needs and fueling its ambitious growth plans in the competitive global EV market.
Renewed Financial Confidence: The €480 Million Green Trade Finance Facility
First established in February 2022, the Green Trade Finance Facility has been a cornerstone of Polestar’s financial strategy. This renewal for €480 million, or roughly $480 Eur Usd converted to approximately $518 million USD, demonstrates the continued support from a syndicate of leading global banks. This facility is specifically designated to bolster Polestar’s working capital, ensuring smooth operations as the company scales production and expands its market presence. The “Green” aspect of the TFF highlights Polestar’s dedication to sustainability, aligning financial operations with its environmental goals. This substantial €480 million facility is a key component of Polestar’s financial strength, providing a robust foundation for its ambitious projects.
Additional USD 450 Million Term Facility Secured
In addition to the significant €480 million TFF renewal, Polestar has also secured a new 12-month term facility of up to USD 450 million. This follows a previous successful acquisition of over USD 800 million in term facilities in December 2024. These financial maneuvers collectively showcase Polestar’s proactive approach to securing funding and its ability to attract substantial investment. The combination of the USD 450 million facility and the €480 million Green Trade Finance Facility provides Polestar with considerable financial flexibility to execute its strategic objectives in a rapidly evolving automotive landscape.
Upcoming Calendar Events
Looking ahead, Polestar is set to announce its global retail sales volumes for Q1 2025 on April 10, 2025. Furthermore, the company plans to release its fourth quarter and full-year 2024 results in April 2025, coinciding with the filing of its Annual Report on Form 20-F for 2024. These upcoming announcements will provide further insights into Polestar’s performance and trajectory in the electric vehicle market.
About Polestar
Polestar stands as a dedicated Swedish electric performance car brand, committed to pushing the boundaries of design and innovation. With a clear vision to accelerate the shift towards a sustainable future, Polestar operates across 27 global markets spanning North America, Europe, and Asia Pacific. Its current lineup includes the Polestar 2, Polestar 3, and Polestar 4, with future models like the Polestar 5, Polestar 6, and Polestar 7 in development. Manufacturing takes place across North America and Asia, with plans to expand production to Europe for the Polestar 7. Sustainability remains at Polestar’s core, aiming to halve greenhouse gas emissions per vehicle by 2030 and achieve climate neutrality across its value chain by 2040.
