Polestar Energy makes home charging smarter, more efficient and cheaper

• Polestar Energy launched in 11 markets, with more to be added through 2025
• Belgium and Switzerland join the UK and the Netherlands, with smart charging, solar and grid rewards.
• In Sweden, Norway, Denmark, Germany, Austria, Italy and Spain, the offer starts with smart charging and solar, with grid rewards to be added in the future.

• Polestar customers can save up to 30% on home charging costs, and combined with additional grid rewards, up to EUR 300 per year*

Polestar continues to roll out its innovative Energy initiative, which is now live in 11 markets, with more planned in the second half of this year. Offering customers smarter, more efficient and cheaper home charging, Polestar Energy compliments Polestar Charge, with over 875,000 charging points in Europe, including Tesla Superchargers, for charging away from home to provide a complete charging ecosystem. In North America, customers have access to over 17,800 Tesla Superchargers with a NACS adaptor.

After a successful pilot scheme in the UK and the Netherlands, today Belgium and Switzerland are added to the full Polestar Energy offer, while customers in Sweden, Norway, Denmark, Germany, Austria, Italy and Spain can take advantage of smart charging and solar.

Michael Lohscheller, Polestar CEO, says: “As the only global premium EV brand it’s important that we offer our customers such a compelling charging offer to make using their cars easier and more cost-effective. A 30% saving on charging costs at home can make a big difference, and so we’re rolling this offer out at scale, with more markets to come later this year. When we add vehicle-to-grid capabilities in Polestar’s line-up it will add even more value to our customers.”

Thanks to the Polestar Energy app, customers decide when they want to use their car and desired charging level, and smart charging takes care of the rest – charging when it makes sense for the grid. By balancing the demand, and charging when demand is lower, the result is cheaper energy costs, either at source in the form of a grid reward or as lower energy costs when receiving their electricity bill.

In some markets, the reduction in charging costs can be as much as 30%, with up to EUR 300 savings per year* possible thanks to additional grid rewards*. The net result is a significant reduction in the total cost of ownership for Polestar customers.

There is also a reduction in CO2 in the usage phase of the car, as at times of lower grid demand the renewable energy mix is often higher, meaning charging using the Polestar Energy app is kinder to the environment.

Later in 2025, bi-directional charging with vehicle-to-grid and vehicle-to-home capabilities, first targeted on Polestar 3, will allow customers to use their vehicle as energy storage and send back excess energy to the grid or even power their home.

Customers looking to take advantage of this offer need to have a compatible home charger. Customers can choose the Zaptec wallbox* with smart charging capability directly from Polestar through an exclusive offer including installation cost.

For markets where it is live, the Polestar Energy app can be downloaded for free.

*Depending on market, energy contracts and plugged-in behaviour, and excluding solar.

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.