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Swedish-founded, Geely/Volvo-backed maker of premium battery-electric performance cars, sold in Europe, US and China.
Swedish-founded, Geely/Volvo-backed maker of premium battery-electric performance cars, sold in Europe, US and China.
Sells directly to buyers through its own retail spaces and website, not franchised dealers, and builds cars in factories in China and the US that belong to affiliated companies, so tariffs and production capacity matter. It still relies on funding from Geely, its largest shareholder, while it scales up.
Moat: narrow (brand, IP / patents). Volvo/Geely engineering and platform-sharing, but small scale versus premium EV rivals.
Headquarters: Gothenburg, Sweden · Founded: 2017 · Employees: 1,686
Size Polestar Automotive Holding UK PLC Sponsored ADR (PSNY) is a United States Consumer Discretionary company (Motor Vehicles) with a market value of $778M, the 2417th largest of 3,117 United States companies the cockpit tracks. Shares closed at $4.26 on 6 Nov 2026.
Performance Over six months the shares fell 78.6%, against -3.5% for the median peer and -1.1% for the United States market (cap-weighted) — lowest of 20 in its peer set.
Growth Revenue grew 17.6% over the last twelve months (peer median +6.6%); the operating margin is -47.2% (peer median 2.8%).
Valuation It trades at 2.0× enterprise value to sales against a peer median of 0.9× (8th most expensive of 19).
Backlog Backlog (remaining performance obligations) was $120M at 31 Dec 2024 — 0.1 years of trailing revenue. Backlog detail →
Short interest Short interest is 1.6% of the free float (15 Oct 2026).
| TTM | FY2025 | FY2024 | FY2023 | FY2022 | |
|---|---|---|---|---|---|
| Revenue | $3.00B | $3.06B | $2.03B | $2.37B | $2.44B |
| Revenue growth | — | +50% | -14% | -3% | — |
| Gross profit | -$505M | -$1.08B | -$876M | -$357M | $156M |
| EBITDA | -$1.38B | -$1.93B | -$1.75B | -$1.40B | -$775M |
| Net income | -$2.01B | -$2.36B | -$2.05B | -$1.18B | -$479M |
| Free cash flow | -$1.36B | -$1.05B | -$1.13B | -$2.03B | -$1.11B |
| Capital expenditure | $384M | $462M | $378M | $573M | $707M |
| Total debt | n/a | $6.49B | $5.01B | $3.59B | $1.44B |
The default views of Competitor Analysis ▸ Charts, drawn from the same data. Open them in the cockpit to change the axes, pin companies and read every value.
| Company | Market cap | 6M return | Revenue growth | Op. margin | EV / Sales | Req g |
|---|---|---|---|---|---|---|
| Polestar Automotive Holding UK PLC Sponsored ADR PSNY | $778M | -79% | +18% | -47% | 2.0× | n/a |
| Tesla TSLA | $1.42T | -16% | +8% | 4% | 13.4× | n/a |
| Volvo Car VOLCAR-B.ST | $3.63B | -45% | -17% | 0% | 0.1× | n/a |
| NIO NIO | $7.97B | -42% | +70% | -4% | 0.3× | n/a |
| Mercedes-Benz MBG.DE | $44.9B | -19% | -7% | 5% | 0.9× | 4.5% |
| Bayerische Motoren Werke BMW.DE | $40.3B | -22% | -6% | 6% | 1.1× | n/a |
Peer set: Industry: the same industry and sector in any market, nearest in size. This is the same default set the interactive Competitor Analysis opens with.
| Measure | PSNY | Peer median | Rank in peer set |
|---|---|---|---|
| 1-month return | -19.8% | -3.3% | 2nd lowest of 20 |
| 6-month return | -78.6% | -3.5% | lowest of 20 |
| Distance from 52-week high | -82.6% | -34.8% | lowest of 20 |
| Revenue growth (TTM) | +17.6% | +6.6% | 6th highest of 19 |
| Operating margin | -47.2% | 2.8% | lowest of 19 |
| EV / Sales | 2.0× | 0.9× | 8th most expensive of 19 |
| Company | Market | Market cap | 6M return | Revenue growth | Op. margin | EV / Sales | Req g | Delivered g |
|---|---|---|---|---|---|---|---|---|
| Polestar Automotive Holding UK PLC Sponsored ADR PSNY | United States | $778M | -79% | +18% | -47% | 2.0× | n/a | n/a |
| IAT Automobile Technology 300825.SZ | China | $786M | +9% | +7% | -8% | 4.7× | n/a | n/a |
| Hanma Technology 600375.SS | China | $786M | -39% | +38% | 0% | 0.7× | 11.1% | +0.5% |
| Haima Automobile 000572.SZ | China | $792M | -43% | -48% | -27% | 6.2× | n/a | n/a |
| Kuen Tong Technology 7965.TWO | Taiwan | $796M | n/a | n/a | n/a | n/a | n/a | n/a |
| Dometic DOM.ST | Sweden | $755M | -29% | -6% | -13% | 0.9× | 3.4% | +5.4% |
| SML Mahindra SMLMAH.NS | India | $806M | +35% | +22% | 7% | 2.5× | 23.6% | +36.9% |
| Nissan Shatai 7222.T | Japan | $747M | -4% | +15% | 4% | 0.1× | n/a | n/a |
| Luyuan Group Holding (Cayman) 2451.HK | Hong Kong | $722M | +24% | -3% | 1% | 1.0× | n/a | n/a |
| Zhongtong Bus 000957.SZ | China | $857M | -18% | +6% | 6% | 0.5× | -16.1% | +10.7% |
| Voyah Automotive Technology 7489.HK | Hong Kong | $704M | -75% | n/a | n/a | n/a | n/a | n/a |
| Yulon Motor 2201.TW | Taiwan | $860M | -1% | -8% | 8% | 3.9× | 14.9% | -2.6% |
| Piaggio & C PIA.MI | Italy | $862M | +24% | -5% | 7% | 0.8× | 2.6% | +2.7% |
| Aebi Schmidt AEBI | United States | $867M | -3% | +49% | 6% | 0.7× | 11.9% | n/a |
| China Motor 2204.TW | Taiwan | $867M | -4% | +6% | 4% | 0.9× | 3.7% | +0.8% |
| Guangdong Lvtong New Energy Electric Vehicle Tech 301322.SZ | China | $869M | +5% | +63% | -3% | 4.3× | n/a | n/a |
| Olectra Greentech OLECTRA.NS | India | $891M | -19% | +38% | 12% | 3.3× | n/a | n/a |
| Zhejiang Qianjiang Motorcycle 000913.SZ | China | $896M | -16% | 0% | 2% | 0.8× | n/a | n/a |
| Shanghai New Power Automotive Technology 600841.SS | China | $914M | -39% | +15% | -5% | 0.7× | 2.1% | -23.6% |
| Breton Technology 1333.HK | Hong Kong | $915M | +5% | +16% | -24% | 9.1× | n/a | n/a |
| Morita 6455.T | Japan | $660M | -6% | 0% | 12% | 0.7× | -13.0% | +6.6% |
Polestar Automotive Holding UK PLC Sponsored ADR reported $120M of remaining performance obligations at 31 Dec 2024. That is 0.1 years of trailing revenue already under contract.