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Polestar Discloses Loan Sales Covenant Cleared by 423 Cars

Polestar logoPolestar
Sig3.42Sen-4.12Env0.00Soc0.00Gov-1.18

Polestar’s half-year filing shows a Chinese loan facility required 30,000 retail sales in the six months to June or the lender could claim 25% of the outstanding balance each month. Counting internal vehicles and repurchase-linked deliveries supports a total of 28,257 excluding internal only, and the lender’s measure appears to have been met. Net loss narrowed 29.4% to $842.4 million, while cash fell and operating cash outflow widened.

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