| Summary of Activity Related of Investment |
The following table summarizes the activity related to Polestar's investment in Polestar Times Technology: | | | | | | | Balance as of January 1, 2024 | — | | | Investment in Polestar Times Technology | 14,508 | | | Elimination of effects of downstream sales | (9,538) | | | Recognized share of losses in Polestar Times Technology | (4,970) | | | Balance as of December 31, 2024 | — | | | | | | | Investment in Polestar Times Technology | 54,092 | | | Elimination of effects of downstream sales | (4,947) | | | Recognized share of losses in Polestar Times Technology | (49,145) | | | Balance as of December 31, 2025 | — | |
The following table summarizes the activity related to Polestar's unrecognized losses in Polestar Times Technology: | | | | | | | Unrecognized balance as of January 1, 2024 | (1,407) | | | | | Additional unrecognized share of losses in Polestar Technology | (64,581) | | | | | Unrecognized balance as of January 1, 2025 | (65,988) | | | Recognized share of losses in Polestar Times Technology | 49,145 | | | Additional unrecognized share of losses in Polestar Technology | (9,180) | | | Unrecognized balance as of December 31, 2025 | (26,023) | |
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| Summary of Financial Information Own Financial Statements |
The following table provides summarized financial information from Polestar Times Technology's financial statements and a reconciliation to the carrying amount of Polestar's investment for years ended December 31, 2025 and 2024: During the year ended December 31, 2025, Polestar did not make any additional investments. | | | | | | | | | | As of December 31, | | 2025 | 2024 | | Polestar's percentage ownership interest | 46.2 | % | 46.2 | % | | Non-current assets | — | | 46,918 | | Current assets | 22,599 | | 48,501 | | Non-current liabilities | — | | (20,007) | | Current liabilities | (47,020) | | (175,538) | | Net liabilities | (24,421) | | (100,126) | | Less: capital reserves | (30,156) | | (30,156) | | Less: share capital attributable to Xingji Meizu | 49 | | (16,641) | | Adjusted net liabilities | (54,528) | | (146,923) | | The Group's share of net liabilities | (25,192) | | (67,878) | | Elimination of effects of downstream sales in inventory | 1,390 | | 2,578 | | Elimination of effects of downstream sales in long-term assets | (1,971) | | 1,789 | | Unrecognized losses in Polestar Times Technology | 26,024 | | 64,581 | | Other reconciling items | (251) | | (1,070) | | Carrying amount of the Group's investment in Polestar Times Technology | — | | — |
| | | | | | | | | | For the year ended December 31, | | 2025 | 2024 | | Revenue | 9,497 | | 53,248 | | | Net loss | (22,279) | | (150,864) | | | Other comprehensive loss | 2,408 | | 320 | | | Total comprehensive loss | (19,871) | | (150,544) | | | The Group's share of losses in Polestar Times Technology | (9,180) | | (69,551) | |
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