GOTHENBURG, Sweden– Polestar (Nasdaq: PSNY), the Swedish electric performance car brand, has announced a significant financial boost, securing a 12-month term facility of up to USD 450 million. This move, disclosed in February 2025, follows a previous securing of over USD 800 million in 12-month term facilities in December 2024, reinforcing the company’s financial stability and growth trajectory. Simultaneously, Polestar has successfully renewed its EUR 480 million Green Trade Finance Facility (TFF), initially established in February 2022.
This financial news raises an important question for international stakeholders and those following global financial markets: What does 450 million USD mean in Euros? For context, when this facility was secured in February 2025, the approximate exchange rate fluctuated, but for illustrative purposes, let’s consider an exchange rate of 1 USD to 0.92 EUR. At this rate, 450 million USD is roughly equivalent to 414 million EUR. This substantial funding in both USD and EUR underscores Polestar’s robust financial strategy across different currency zones.
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The renewed EUR 480 million Green Trade Finance Facility is particularly noteworthy. This facility, originally established to support Polestar’s working capital, highlights the company’s ongoing commitment to sustainable practices. Green Trade Finance is designed to support environmentally friendly initiatives, aligning with Polestar’s core values and its ambition to accelerate the shift towards a sustainable future in the automotive industry. Securing this facility for another term demonstrates confidence from leading global banks in Polestar’s business model and its dedication to green financing.
Looking ahead, Polestar has announced key dates for upcoming publications. The company is set to release its global retail sales volumes for Q1 2025 on April 10, 2025. Furthermore, the highly anticipated fourth quarter and full-year 2024 results are expected to be published in April 2025, coinciding with or preceding the filing of its Annual Report on Form 20-F for 2024. These reports will provide further insights into Polestar’s financial performance and market position.
About Polestar:
Polestar stands as a pioneering Swedish electric performance car brand, recognized for its dedication to uncompromised design and innovation. With its headquarters in Gothenburg, Sweden, Polestar vehicles are currently available in 27 markets across North America, Europe, and Asia Pacific. The brand’s current model lineup includes the Polestar 2, Polestar 3, and Polestar 4. Future models are in development, including the Polestar 5 four-door GT (expected in 2025), the Polestar 6 roadster, and the Polestar 7 compact SUV, indicating an ambitious expansion plan. Polestar is also strategically diversifying its manufacturing footprint, with current production in North America and Asia and plans to manufacture the Polestar 7 in Europe.
Sustainability is deeply ingrained in Polestar’s ethos. The company has publicly stated its commitment to halving greenhouse gas emissions per vehicle sold by 2030 and achieving climate neutrality across its entire value chain by 2040. This commitment is underpinned by a comprehensive sustainability strategy encompassing Climate, Transparency, Circularity, and Inclusion.
Forward-Looking Statements:
It is important to note that this announcement contains forward-looking statements, as defined by the Private Securities Litigation Reform Act of 1995. These statements are based on current expectations and assumptions and are subject to risks and uncertainties that could cause actual results to differ materially. Investors are encouraged to review the “Risk Factors” and “Cautionary Note Regarding Forward-Looking Statements” sections in Polestar’s Form 20-F and other filings with the U.S. Securities and Exchange Commission for a comprehensive understanding of these potential risks. Polestar assumes no obligation to update these statements unless required by law.
Contacts:
Anna Gavrilova
Head of Investor Relations
anna.gavrilova@polestar.com
Theo Kjellberg
Head of Corporate Communications
theo.kjellberg@polestar.com
