Polestar Files Annual Report
14 Agosto 2024 - 3:35PM
Business Wire
Polestar (Nasdaq: PSNY) has filed its Annual Report on Form 20-F
for the fiscal year ended 31 December 2023 with the U.S. Securities
and Exchange Commission. As a result, the Company has regained
reporting compliance, meeting the requirements of Nasdaq Listing
Rule 5250(c)(1).
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Polestar’s Annual Report on Form 20-F is available via the
Investor Relations website: www.investors.polestar.com.
Forward-Looking Statements
Certain statements in this press release (“Press Release”) may
be considered “forward-looking statements” as defined in the
Private Securities Litigation Reform Act of 1995. Forward-looking
statements generally relate to future events or the future
financial or operating performance of Polestar including the number
of vehicle deliveries and gross margin and funding updates. For
example, projections of revenue, volumes, margins, cash flow
break-even and other financial or operating metrics and statements
regarding expectations of future needs for funding and plans
related thereto are forward-looking statements. In some cases, you
can identify forward-looking statements by terminology such as
“may”, “should”, “expect”, “intend”, “will”, “estimate”,
“anticipate”, “believe”, “predict”, “potential”, “forecast”,
“plan”, “seek”, “future”, “propose” or “continue”, or the negatives
of these terms or variations of them or similar terminology. Such
forward-looking statements are subject to risks, uncertainties, and
other factors which could cause actual results to differ materially
from those expressed or implied by such forward looking
statements.
These forward-looking statements are based upon estimates and
assumptions that, while considered reasonable by Polestar and its
management, as the case may be, are inherently uncertain. Factors
that may cause actual results to differ materially from current
expectations include, but are not limited to: (1) Polestar’s
ability to maintain agreements or partnerships with its strategic
partners, such as Volvo Cars, Geely or Xingji Meizu Group, and to
develop new agreements or partnerships; (2) Polestar’s ability to
maintain relationships with its existing suppliers, source new
suppliers for its critical components and enter into longer term
supply contracts and complete building out its supply chain, while
effectively managing the risks due to such relationships; (3)
Polestar’s reliance on its partnerships with vehicle charging
networks to provide charging solutions for its vehicles and its
reliance on strategic partners for servicing its vehicles and their
integrated software; (4) Polestar’s reliance on its partners, some
of which may have limited experience with electric vehicles, to
manufacture vehicles at a high volume or develop devices, products,
apps or operating systems for Polestar, and to allocate sufficient
production capacity or resources to Polestar in order for Polestar
to be able to increase its vehicle production capacities and
product offerings; (5) the ability of Polestar to grow and manage
growth profitably including expectations of growth and financial
performance by generating expected revenues at expected selling
prices, maintain relationships with customers and retain its
management and key employees; (6) Polestar’s estimates of expenses,
profitability, gross margin, cash flow, and cash reserves; (7)
increases in costs, disruption of supply or shortage of materials,
in particular for lithium-ion cells or semiconductors; (8) the
possibility that Polestar may be adversely affected by other
economic, business, and/or competitive factors; (9) the effects of
competition and the high barriers to entry in the automotive
industry, and the pace and depth of electric vehicle adoption
generally on Polestar’s future business; (10) changes in regulatory
requirements, governmental incentives, tariffs and fuel and energy
prices; (11) the outcome of any legal proceedings that may be
instituted against Polestar or others, adverse results from
litigation, governmental investigations or audits, or tax-related
proceedings or audits; (12) the ability to meet stock exchange
listing standards; (13) changes in applicable laws or regulations
or governmental incentive programs; (14) Polestar’s ability to
establish its brand and capture additional market share, (15) the
risks associated with negative press or reputational harm,
including from lithium-ion battery cells catching fire or venting
smoke; (16) delays in the design, development, manufacture, launch
and financing of Polestar’s vehicles and other product offerings,
and Polestar’s reliance on a limited number of vehicle models to
generate revenues; (17) Polestar’s ability to continuously and
rapidly innovate, develop and market new products; (18) risks
related to future market adoption of Polestar’s offerings; (19)
risks related to Polestar’s distribution model; (20) the impact of
inflation, interest rate changes, the ongoing conflict between
Ukraine and Russia and in Israel and the Gaza Strip as well as the
Red Sea, supply chain disruptions, fuel and energy prices and
logistical constraints on Polestar, Polestar’s projected results of
operations, financial performance or other financial and
operational metrics, or on any of the foregoing risks; (21)
Polestar’s ability to forecast demand for its vehicles; (22)
Polestar’s ability to raise additional funding; (23) Polestar’s
ability to successfully execute cost-cutting activities and
strategic efficiency initiatives; (24) the identification of
additional accounting errors and/or a final assessment of errors
already identified that differs significantly from Polestar’s
preliminary view of such errors; and (25) other risks and
uncertainties set forth in the sections entitled “Risk Factors” and
“Cautionary Note Regarding Forward-Looking Statements” in
Polestar’s Form 20-F, and other documents filed, or to be filed,
with the SEC by Polestar. There may be additional risks that
Polestar presently does not know or that Polestar currently
believes are immaterial that could also cause actual results to
differ from those contained in the forward-looking statements.
Nothing in this Press Release should be regarded as a
representation by any person that the forward-looking statements
set forth herein will be achieved or that any of the contemplated
results of such forward-looking statements will be achieved. You
should not place undue reliance on forward-looking statements,
which speak only as of the date they are made. Polestar assumes no
obligation to update these forward-looking statements, even if new
information becomes available in the future, except as may be
required by law.
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version on businesswire.com: https://www.businesswire.com/news/home/20240814153027/en/
Bojana Flint Head of Investor Relations
bojana.flint@polestar.com
Theo Kjellberg Head of Corporate PR
theo.kjellberg@polestar.com
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