Polestar Secures ~$274M Debt-To-Equity Conversion From Volvo Cars, Extends Remaining ~$661M Shareholder Loan Maturity To December 2031

Polestar has secured an approximate $274 million debt-to-equity conversion from Volvo Cars, extending the maturity of the remaining $661 million shareholder loan to December 2031. Additionally, the company plans to consolidate the manufacturing of its Polestar 3 model in Charleston, South Carolina, to enhance operational efficiencies. A further conversion of approximately $65 million is anticipated later in the second quarter.