v3.26.1
Leases
 12 Months Ended
Dec. 31, 2025
Lease liabilities [abstract]  
Leases
Note 12 - Leases
Polestar Group as lessee
The current and non-current portion of the Group's lease liabilities are as follows:
For the year ended December 31,
20252024
Current lease liabilities13,855 13,923 
Current lease liabilities - related parties23,355 16,999 
Non-current lease liabilities44,048 47,918 
Non-current lease liabilities - related parties49,466 56,431 
Total130,724 135,271 
Expected future lease payments to be made to satisfy the Group's lease liabilities are as follows:
For the year ended December 31,
20252024
Within 1 year38,512 35,129 
Between 1 and 2 years26,995 37,128 
Between 2 and 3 years19,661 19,865 
Between 3 and 4 years18,446 17,179 
Between 4 and 5 years16,340 15,832 
Later than 5 years33,739 38,862 
Total153,693 163,995 
Amounts related to leases recognized in the Consolidated Statement of Loss and Comprehensive Loss are as follows:
For the year ended December 31,
202520242023
Income from sub-leasing right-of-use assets3,130 2,391 1,729 
Interest expense on leases(4,587)(7,423)(5,008)
Expense relating to short-term leases(839)(637)(888)
Expense relating to lease of low value assets(24)(8)(5)
For the years ended December 31, 2025, 2024, and 2023, total cash outflows related to leases, inclusive of interest paid, amounted to $34,615, $43,069, and $26,924, respectively.
The Group's right-of-use assets from leases, buildings and manufacturing production equipment are presented in Note 16 - Property, plant and equipment.
Polestar Group as lessor
For the majority of the Group's operating lease contracts as a lessor, vehicles are paid for upfront by the customer at contract inception and repurchased by Polestar at the end of the lease term.
The following table depicts the changes in the Group's vehicles under operating leases:
Vehicles under operating leases
Acquisition cost
Balance as of January 1, 2024141,448
Reclassification from inventories73,795
Reclassification to inventories(83,246)
Effect of foreign currency exchange rate differences(7,925)
Balance as of December 31, 2024124,072
Reclassification from inventories184,029
Reclassification to inventories(213,020)
Effect of foreign currency exchange rate differences11,219
Balance as of December 31, 2025106,300
Accumulated depreciation & impairment
Balance as of January 1, 2024(71,225)
Reclassification to inventory15,431
Depreciation expense(12,958)
Impairment loss(737)
Effect of foreign currency exchange rate differences1,554
Balance as of December 31, 2024(67,935)
Reclassification to inventory78,215 
Depreciation expense(17,705)
Impairment loss reversals, net1,387 
Effect of foreign currency exchange rate differences273 
Balance as of December 31, 2025(5,765)
Carrying amount as of December 31, 202456,137 
Carrying amount as of December 31, 2025100,535