Form 6-K - Report of foreign issuer [Rules 13a-16 and 15d-16]

 

 

UNITED STATES

SECURITIES AND EXCHANGE COMMISSION

WASHINGTON, D.C. 20549

 

 

FORM 6-K

 

 

REPORT OF FOREIGN PRIVATE ISSUER

PURSUANT TO RULE 13a-16 OR 15d-16

UNDER THE SECURITIES EXCHANGE ACT OF 1934

For the month of September 2024

Commission File Number: 001-41431

 

 

Polestar Automotive Holding UK PLC

 

 

Assar Gabrielssons Väg 9

405 31 Göteborg, Sweden

(Address of principal executive office)

 

 

Indicate by check mark whether the registrant files or will file annual reports under cover of Form 20-F or Form 40-F.

Form 20-F ☒   Form 40-F ☐

Indicate by check mark if the registrant is submitting the Form 6-K in paper as permitted by Regulation S-T Rule 101(b)(1): ☐

Indicate by check mark if the registrant is submitting the Form 6-K in paper as permitted by Regulation S-T Rule 101(b)(7): ☐

 

 

 

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INFORMATION CONTAINED IN THIS REPORT ON FORM 6-K

On September 3, 2024, Polestar Automotive Holding UK PLC (“Polestar”) issued a press release announcing the appointment of Jean-Francois Mady to the role of Chief Financial Officer, effective October 21, 2024. A copy of the press release is attached hereto as Exhibit 99.1.

On September 13, 2024, Polestar issued a press release describing certain new and previously disclosed proposed changes to its Board of Directors. A copy of the press release is attached hereto as Exhibit 99.2.

Exhibits 99.1 and 99.2 to this Report on Form 6-K shall not be deemed “filed” for purposes of Section 18 of the Securities Exchange Act of 1934 (the “Exchange Act”) or otherwise subject to the liabilities of that section, nor shall they be deemed incorporated by reference in any filing under the Securities Act of 1933 or the Exchange Act.

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EXHIBIT INDEX

 

Exhibit No.		Description of Exhibit
99.1		Press Release of Polestar Automotive Holding UK PLC, dated September 3, 2024
99.2		Press Release of Polestar Automotive Holding UK PLC, dated September 13, 2024

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SIGNATURES

Pursuant to the requirements of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned, thereunto duly authorized.

 

						POLESTAR AUTOMOTIVE HOLDING UK PLC
Date: September 13, 2024						By:		/s/ Per Ansgar
						Name:		Per Ansgar
						Title:		Chief Financial Officer

Exhibit 99.1

 

Polestar appoints Jean-Francois Mady as CFO

GOTHENBURG, SWEDEN – 3 September 2024. Polestar (Nasdaq: PSNY) continues to prepare itself for the next step in its development by appointing Jean-Francois Mady to the role of Chief Financial Officer (CFO), effective 21 October 2024.

Jean-Francois brings 25 years of experience from senior, leading roles in automotive finance and financial services across Europe, China, Asia and India. Most recently he was Senior Vice President of Global Accounting Operations and Finance Transformation at Stellantis Group. He has also held several leadership roles at PSA Group. 

Jean-Francois will assume responsibilities from Per Ansgar, who joined Polestar in January 2024 as CFO on a transitional basis. Per will remain with Polestar to provide support and to ensure a smooth transition, before returning to his role as CFO of Geely Sweden Holding AB.

Michael Lohscheller, incoming Polestar CEO, says: “I am very pleased to welcome Jean-Francois to Polestar. He brings a wealth of experience and best practice competence from our industry, which we will benefit from. With Polestar 2, Polestar 3 and Polestar 4 we have a stunning model line-up on the roads. One of our key priorities moving forward is to make Polestar a financial success and this is an important step in that direction.”

“I would like to thank Per for his contributions and commitment, supporting the Company and leading our Finance function during a very important period.”

Jean-Francois Mady says: “I’m very excited to join Polestar, with its unique focus on design, electric performance and sustainability and look forward to supporting the Company’s exciting next phase.”

ENDS.

Contacts

Bojana Flint

Head of Investor Relations

[e-mail]

Theo Kjellberg

Head of Corporate PR

[e-mail]

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About Polestar

Polestar (Nasdaq: PSNY) is the Swedish electric performance car brand determined to improve society by using design and technology to accelerate the shift to sustainable mobility. Headquartered in Gothenburg, Sweden, its cars are available online in 27 markets globally across North America, Europe and Asia Pacific.

Polestar plans to have a line-up of five performance EVs by 2026. Polestar 2, the electric performance fastback, launched in 2019. Polestar 3, the SUV for the electric age, launched in late 2022. Polestar 4, the SUV coupé transformed, is launching in phases through 2023 and into 2024. Polestar 5, an electric four-door GT and Polestar 6, an electric roadster, are coming soon.

The Polestar 0 project supports the company’s ambitious goal of creating a truly climate-neutral production car by 2030. The research initiative also aims to create a sense of urgency to act on the climate crisis, by challenging employees, suppliers and the wider automotive industry, to drive towards zero.

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.

Exhibit 99.2

 

Polestar announces date of AGM and Board changes

 

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AGM to take place on 7 October 2024

 

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Winfried Vahland to assume role of Chair, following Håkan Samuelsson’s retirement from the Board; investing 100% of net remuneration in Polestar shares

 

•

Francesca Gamboni proposed to replace Jim Rowan as Volvo Cars representative on Board of Directors

 

•

Christine Gorjanc and Xiaojie Shen (Laura) proposed as new Directors

GOTHENBURG, SWEDEN – 13 September 2024. Polestar (Nasdaq: PSNY) is holding its Annual General Meeting (AGM) in London on 7 October 2024. Full details of the AGM, including instructions for proxy voting by registered shareholders, are available on the Company’s Investor Relations website https://investors.polestar.com/.

As announced on 18 June, Håkan Samuelsson intends to retire as Board Chair at the AGM, with Winfried Vahland taking on the role. Christine Gorjanc and Xiaojie Shen (Laura) have also been proposed for election as new Directors at the Annual General Meeting. Subject to their elections, Christine Gorjanc is appointed as Chair of the Audit Committee and Xiaojie Shen (Laura) appointed as member of the Audit Committee.

Additionally, Francesca Gamboni, Chief Supply Chain Officer at Volvo Cars is proposed to succeed Jim Rowan as representative of Volvo Cars on the Polestar Board of Directors. This change of representation reflects the relationship of the Company with Volvo Cars, which remains a major shareholder and key operational partner.

Winfried Vahland, incoming Chair, says: “I want to express my gratitude to both Håkan and Jim and look forward to working with our Board and Management as we continue to strengthen Polestar’s position as the leading, performance EV brand.”

“This is an incredibly exciting time for Polestar – with a unique position and growing model line-up that will provide the foundation for our success. My conviction of this success is reflected in my decision to invest 100% of my net remuneration as Chair for 2024 and 2025 in Polestar shares.”

Ends.

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Contacts

Bojana Flint

Head of IR

[e-mail]

Theo Kjellberg

Head of Corporate Communication

[e-mail]

About Francesca Gamboni

Francesca is Chief Supply Chain Officer at Volvo Cars, with responsibilities for procurement, supply chain and manufacturing. She has extensive experience in automotive and relevant industries, including senior supply chain roles at Accell Group, Stellantis, Renault-Nissan, and Alcan (now Rio Tinto), along with time spent at Bosch. Francesca holds a Master of Science in Industrial Technology Engineering.

About Polestar

Polestar (Nasdaq: PSNY) is the Swedish electric performance car brand determined to improve society by using design and technology to accelerate the shift to sustainable mobility. Headquartered in Gothenburg, Sweden, its cars are available online in 27 markets globally across North America, Europe and Asia Pacific.

Polestar plans to have a line-up of five performance EVs by 2026. Polestar 2, the electric performance fastback, launched in 2019. Polestar 3, the SUV for the electric age, launched in late 2022. Polestar 4, the SUV coupé transformed, is launching in phases through 2023 and into 2024. Polestar 5, an electric four-door GT and Polestar 6, an electric roadster, are coming soon.

The Polestar 0 project supports the company’s ambitious goal of creating a truly climate-neutral production car by 2030. The research initiative also aims to create a sense of urgency to act on the climate crisis, by challenging employees, suppliers and the wider automotive industry, to drive towards zero.

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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.

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