Polestar reports FY24 revenue $3.06B vs. $2.04B last year

Reports retail sales of 60,119 cars, up 34% year-over-year. Michael Lohscheller, Polestar (PSNY) CEO, said: “2025 was a record year for Polestar, with retail sales of over 60,000 cars and revenue surpassing $3B. Our strong commercial performance was driven by the expansion of our sales network and strength of our model line-up. Since June 2025 to-date, we have strengthened our balance sheet and improved our debt and liquidity positions through a total of $1.2B in equity injections, approx. $0.6B debt-to-equity conversions, partially executed and planned, and an agreement of a three-year extension of the $0.7B shareholder loan. In 2026, our operational focus will be on the continued expansion of our sales network, growing our sales points by a planned 20%, to coincide with the largest model offensive in our history, with four new models planned during the next three years. While we expect market conditions to become more challenging, amid ongoing geopolitical developments, we will continue to drive financial performance, building on our achievements in 2025, with an improved model mix, sustained cost reduction and financial discipline.”