Polestar confirms Formula 2030 concept car

• Polestar confirms Formula 2030 concept car as part of wider commercial strategy
• The Formula 2030 concept showcases future design direction for the brand under Philipp Römers
• Previews future Polestar 2 and Polestar 7 design attributes
• Exclusive reveal for Polestar investors, retailers and select customers at The Cube before global debut later this year

Polestar, the Swedish electric performance car brand, confirms its Formula 2030 concept car. Delivered as part of a wider 2030 strategy, executed to continue business growth and drive to profitability, the concept is designed to showcase the future design of the brand while amplifying the already established performance, technology and sustainability pillars.

The Formula 2030 concept previews design attributes that will be seen on the new Polestar 2, with planned launch in 2027, and forthcoming Polestar 7 while emphasising the brand’s performance credentials. The design team, led by Philipp Römers, has created a bold evolution of the already established Scandinavian form language, moving exterior and interior design, material innovation and sustainability onto the next chapter.

Philipp Römers, Head of Design at Polestar, says “Polestar’s design and brand is already so strong, it was obvious we needed a bold evolution not revolution of what came before. Formula 2030 delivers this, showcasing our future while respecting brand-defining elements like the familiar Dual Blade headlights ensuring it remains recognisably a Polestar with a strong, characterful identity.”

The concept will be shown to Polestar investors, retailers and select group of VIP customers during an exclusive behind-the-scenes preview at a comprehensive Formula 2030 strategy event at The Cube, Polestar HQ in Gothenburg. And later this year the showcar will make its global debut, as part of the media drive of Polestar 4 SUV, which is available to order here https://www.polestar.com/configure/polestar-4-suv.

About Polestar

Polestar (Nasdaq: PSNY) is the Swedish electric performance car brand with a focus on uncompromised design and innovation, and the ambition to accelerate the change towards a sustainable future. Headquartered in Gothenburg, Sweden, its cars are available in 31 markets globally across North America, Europe and Asia Pacific.

Polestar has five models in its line-up: Polestar 2, Polestar 3, Polestar 4 coupé, Polestar 4 SUV, and Polestar 5. Planned models include the Polestar 2 successor (to be launched in 2027), Polestar 7 compact SUV (to be introduced in 2028) and the Polestar 6 roadster. With its vehicles currently manufactured on two continents, North America and Asia, Polestar plans to diversify its manufacturing footprint further, with production of Polestar 7 planned in Europe.

Polestar has an unwavering commitment to sustainability and has set an ambitious roadmap to reach its climate targets: halve greenhouse gas emissions by 2030 per-vehicle-sold and become climate-neutral across its value chain by 2040. Polestar’s comprehensive sustainability strategy covers the four areas of Climate, Transparency, Circularity, and Inclusion.

Forward-Looking Statements

This press release contains statements that are not historical facts, but rather forward-looking statements within the meaning of Private Securities Litigation Reform Act of 1995. Such forward-looking statements include those that address activities, events or developments that Polestar or its management believes or anticipates may occur in the future. All forward-looking statements are based upon, as applicable, our current expectations, various assumptions and data available from third parties. Our expectations and assumptions are expressed in good faith and we believe there is a reasonable basis for them. However, there can be no assurance that such forward-looking statements will materialize or prove to be correct as forward-looking statements are inherently subject to known and unknown risks, uncertainties and other factors which may cause actual future results, performance or achievements to differ materially from the future results, performance or achievements expressed in or implied by such forward-looking statements. Numerous risks, uncertainties and other factors may cause actual results to differ materially from those set out in the forward-looking statements, including those 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 U.S. Securities and Exchange Commission by Polestar. For any forward-looking statements contained in this or any other document, we claim the protection of the safe harbor for forward-looking statements contained in the Private Securities Litigation Reform Act of 1995, and we assume no obligation to update publicly or revise any such statements in light of new information or future events, except as required by law.