Polestar Annual Sustainability Report announces a 25% cut in emissions per sold car

Polestar (NASDAQ: PSNY) has published its fourth Annual Sustainability report, announcing significant GHG reductions, updates on the Polestar 0 project and a continued quest for increased transparency and more sustainable materials. Since the Company started measuring in 2020, Polestar has reduced its carbon footprint per sold car with a quarter (24.7%). The most significant contributing factors to this achievement include an increased use of low-carbon aluminium in all models, improvements in battery manufacturing, 100% renewable electricity in the manufacture of all models and more efficient logistics combined with increased use of biofuels on certain ocean routes.

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Michael Lohscheller

Michael Lohscheller, Polestar CEO, says: “Polestar has shown that it is possible to decouple growth from climate impact. In simple terms, we aim to continue to cut emissions as we accelerate sales. Even though much in the world seems to be going in the wrong direction, we are doubling down on our commitments. When the world zigs, Polestar zags.”

The Polestar 0 project was launched in 2021, as a moonshot goal to create a climate neutral car, aimed at galvanising a sense of urgency and accelerating collaborative research, supporting Polestar’s goal of becoming climate neutral by 2040. Today, the project partners and Polestar are proud to announce that across the companies’ combined initiatives, important low carbon solutions have been identified, showing the potential to produce a Polestar 2 with a 10 tonnes lower carbon footprint than when the project started*.

The largest contributions are within aluminium and steel manufacturing, key materials for decarbonisation as they represent around 45% of the total cradle-to gate carbon footprint of Polestar 2. Moving into its next stage, the structure of the Polestar 0 project will shift, with areas that require further research serving as input to the Mission 0 House*, a Polestar-initiated but collaboratively driven and funded research centre. Located in Gothenburg, the research hub hosts scientists from academia and engineers from industry, who work side by side, towards elimination of GHG emissions in materials, products and processes. As a key principle, the ambition is to consider commercialisation of future potential solutions developed by the Mission 0 House.

Circularity, Inclusion and Transparency remain key areas. Polestar joined the Initiative for Responsible Mining Assurance (IRMA) and continued the expansion of onsite audits in high-risk regions. Traceability of risk materials was expanded to include the mapping of manganese, among others. Polestar continues its efforts to increase both data availability and share of recycled content from car programs to model year upgrades and Polestar 4 now contains 10% recycled material.

Read Polestar's full Sustainability report here: https://www.polestar.com/dato-assets/11286/1744370504-polestar_sustainability_report_2024.pdf

Notes to editors

*The cradle-to-gate carbon footprint of the 2020 launch edition Polestar 2 Long range Dual motor variant would go from about 26 tonnes to 16 tonnes of CO₂e by fully incorporating the solutions identified within the partnerships.

*Read more about Mission 0 House in our sustainability report on page 79

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 27 markets globally across North America, Europe and Asia Pacific.

Polestar has three models in its line-up: Polestar 2, Polestar 3, and Polestar 4. Planned models include the Polestar 5 four-door GT (to be introduced in 2025), the Polestar 6 roadster and the Polestar 7 compact SUV. 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.

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