The company intends to use the proceeds for working capital requirements and general corporate purposes. Polestar, headquartered in Gothenburg, Sweden, currently offers three models: Polestar 2, Polestar 3, and Polestar 4. The company plans to introduce the Polestar 5 four-door GT in 2025, followed by the Polestar 6 roadster and Polestar 7 compact SUV. The Swedish automaker currently manufactures vehicles in North America and Asia, with plans to expand production to Europe for the upcoming Polestar 7 model. Polestar operates in 28 markets globally across North America, Europe, and Asia Pacific. The company has established sustainability targets that include halving greenhouse gas emissions per vehicle sold by 2030 and achieving climate neutrality across its value chain by 2040.