Polestar Automotive Holding UK PLC Class C-1 ADS (ADW) - PSNYW STOCK NEWS

Polestar (Nasdaq: PSNY) has announced that it plans to release its full year 2023 annual report and preliminary unaudited financial and operational results for the first quarter of 2024 by the end of June. The company will file the Annual Report on Form 20-F. Shareholders will have the opportunity to ask questions through the Say Technologies platform. Further information, including the specific publication date and links to the live audio webcast, will be provided later.

Polestar (Nasdaq: PSNY) has received a deficiency notice from Nasdaq due to its failure to file its Annual Report on Form 20-F for the fiscal year ended December 31, 2023. This notice confirms non-compliance with Nasdaq Listing Rule 5250(c)(1), which mandates timely filing of all required financial reports with the SEC. The notice does not immediately impact Polestar's listing, and its securities will continue to trade on the Nasdaq exchange. Polestar has 60 days to submit a compliance plan, potentially extending their deadline to November 11, 2024, if approved. The company has secured a waiver from its lenders for the late filing and is focused on regaining compliance by filing the required annual report and subsequent quarterly results as soon as possible.

Polestar and StoreDot have successfully demonstrated the implementation of StoreDot’s Extreme Fast Charging (XFC) technology in a car for the first time, charging a Polestar 5 prototype from 10-80% in just 10 minutes. The battery pack, which has the potential for an extended range of 200 miles in 10 minutes, signifies a significant advancement in electric vehicle charging technology. This breakthrough showcases the potential for widespread electric car adoption by addressing charging anxiety and offering a comparable charging experience to traditional fuel-powered vehicles.

Polestar (PSNY) delivered 7,200 cars in Q1, including 1,200 Polestar 4 in China. Positive media reviews for Polestar 3 and Polestar 4. Strategic developments include securing $950 million funding, ownership structure changes, and production expansion plans.

Polestar (Nasdaq: PSNY) debuts at the New York International Auto Show with luxury SUVs Polestar 3 and Polestar 4, showcasing the brand's commitment to performance and luxury in the electric age.

Polestar Automotive Holding UK PLC (Nasdaq: PSNY) announces new appointments to its Board of Directors and Management Team, including Winfried Vahland as a new director, Per Ansgar as Chief Financial Officer, and Kristian Elvefors as Global Head of Sales. The company aims to leverage their significant industry experience to drive profitable growth and achieve cash flow breakeven by 2025.

Polestar (Nasdaq: PSNY) confirms the successful start of production of Polestar 4, with first deliveries to customers in China expected before the end of 2023 and in other markets in early 2024. The car is manufactured at the Hangzhou Bay factory operated by Geely Holding, powered by renewable electricity. It has the lowest carbon footprint of any Polestar car at launch, and incorporates various eco-friendly measures in its production. Polestar 4 was first launched at the Shanghai Auto Show in April 2023 and will be manufactured in Busan, South Korea, from the second half of 2025.

Polestar invites shareholders to attend an exclusive event on November 9, 2023 in Los Angeles.

Polestar reports Q2 results with 36% growth in vehicle deliveries compared to last year. Expects to deliver 60,000-70,000 vehicles and a gross margin of 4% in 2023.