SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549 |
SCHEDULE 13D
Under the Securities Exchange Act of 1934
(Amendment No. 6)*
|
Polestar Automotive Holding UK PLC (Name of Issuer) |
Class A American Depositary Shares, Class A Ordinary Shares, par value $0.01 each (Title of Class of Securities) |
731105201 (CUSIP Number) |
Zhejiang Geely Holding Group 1760 Jiangling Road, Binjiang District Hangzhou, F4, 310051 86 (571) 2809 8282 (Name, Address and Telephone Number of Person Authorized to Receive Notices and Communications) |
06/16/2025 (Date of Event Which Requires Filing of This Statement) |
SCHEDULE 13D
|
CUSIP No. | 731105201 |
1 |
Name of reporting person
Eric Li | ||||||||
2 | Check the appropriate box if a member of a Group (See Instructions)
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3 | SEC use only | ||||||||
4 |
Source of funds (See Instructions)
WC, OO | ||||||||
5 |
Check if disclosure of legal proceedings is required pursuant to Items 2(d) or 2(e)
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6 | Citizenship or place of organization
CHINA
| ||||||||
Number of Shares Beneficially Owned by Each Reporting Person With: |
| ||||||||
11 | Aggregate amount beneficially owned by each reporting person
1,725,045,301.00 | ||||||||
12 | Check if the aggregate amount in Row (11) excludes certain shares (See Instructions)
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13 | Percent of class represented by amount in Row (11)
81.4 % | ||||||||
14 | Type of Reporting Person (See Instructions)
IN |
SCHEDULE 13D
|
CUSIP No. | 731105201 |
1 |
Name of reporting person
Volvo Car Corporation | ||||||||
2 | Check the appropriate box if a member of a Group (See Instructions)
![]() ![]() | ||||||||
3 | SEC use only | ||||||||
4 |
Source of funds (See Instructions)
WC, OO | ||||||||
5 |
Check if disclosure of legal proceedings is required pursuant to Items 2(d) or 2(e)
![]() | ||||||||
6 | Citizenship or place of organization
SWEDEN
| ||||||||
Number of Shares Beneficially Owned by Each Reporting Person With: |
| ||||||||
11 | Aggregate amount beneficially owned by each reporting person
380,322,995.00 | ||||||||
12 | Check if the aggregate amount in Row (11) excludes certain shares (See Instructions)
![]() | ||||||||
13 | Percent of class represented by amount in Row (11)
17.9 % | ||||||||
14 | Type of Reporting Person (See Instructions)
CO |
SCHEDULE 13D
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CUSIP No. | 731105201 |
1 |
Name of reporting person
PSD Investment Limited | ||||||||
2 | Check the appropriate box if a member of a Group (See Instructions)
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3 | SEC use only | ||||||||
4 |
Source of funds (See Instructions)
OO | ||||||||
5 |
Check if disclosure of legal proceedings is required pursuant to Items 2(d) or 2(e)
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6 | Citizenship or place of organization
VIRGIN ISLANDS, BRITISH
| ||||||||
Number of Shares Beneficially Owned by Each Reporting Person With: |
| ||||||||
11 | Aggregate amount beneficially owned by each reporting person
828,013,737.00 | ||||||||
12 | Check if the aggregate amount in Row (11) excludes certain shares (See Instructions)
![]() | ||||||||
13 | Percent of class represented by amount in Row (11)
39.1 % | ||||||||
14 | Type of Reporting Person (See Instructions)
CO |
SCHEDULE 13D
|
CUSIP No. | 731105201 |
1 |
Name of reporting person
PSD Capital Limited | ||||||||
2 | Check the appropriate box if a member of a Group (See Instructions)
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3 | SEC use only | ||||||||
4 |
Source of funds (See Instructions)
OO | ||||||||
5 |
Check if disclosure of legal proceedings is required pursuant to Items 2(d) or 2(e)
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6 | Citizenship or place of organization
VIRGIN ISLANDS, BRITISH
| ||||||||
Number of Shares Beneficially Owned by Each Reporting Person With: |
| ||||||||
11 | Aggregate amount beneficially owned by each reporting person
828,013,737.00 | ||||||||
12 | Check if the aggregate amount in Row (11) excludes certain shares (See Instructions)
![]() | ||||||||
13 | Percent of class represented by amount in Row (11)
39.1 % | ||||||||
14 | Type of Reporting Person (See Instructions)
CO |
SCHEDULE 13D
|
CUSIP No. | 731105201 |
1 |
Name of reporting person
Snita Holding B.V. | ||||||||
2 | Check the appropriate box if a member of a Group (See Instructions)
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3 | SEC use only | ||||||||
4 |
Source of funds (See Instructions)
AF, OO | ||||||||
5 |
Check if disclosure of legal proceedings is required pursuant to Items 2(d) or 2(e)
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6 | Citizenship or place of organization
NETHERLANDS
| ||||||||
Number of Shares Beneficially Owned by Each Reporting Person With: |
| ||||||||
11 | Aggregate amount beneficially owned by each reporting person
380,322,995.00 | ||||||||
12 | Check if the aggregate amount in Row (11) excludes certain shares (See Instructions)
![]() | ||||||||
13 | Percent of class represented by amount in Row (11)
17.9 % | ||||||||
14 | Type of Reporting Person (See Instructions)
CO |
SCHEDULE 13D
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CUSIP No. | 731105201 |
1 |
Name of reporting person
Volvo Car AB | ||||||||
2 | Check the appropriate box if a member of a Group (See Instructions)
![]() ![]() | ||||||||
3 | SEC use only | ||||||||
4 |
Source of funds (See Instructions)
WC, OO | ||||||||
5 |
Check if disclosure of legal proceedings is required pursuant to Items 2(d) or 2(e)
![]() | ||||||||
6 | Citizenship or place of organization
SWEDEN
| ||||||||
Number of Shares Beneficially Owned by Each Reporting Person With: |
| ||||||||
11 | Aggregate amount beneficially owned by each reporting person
380,322,995.00 | ||||||||
12 | Check if the aggregate amount in Row (11) excludes certain shares (See Instructions)
![]() | ||||||||
13 | Percent of class represented by amount in Row (11)
17.9 % | ||||||||
14 | Type of Reporting Person (See Instructions)
CO |
SCHEDULE 13D
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CUSIP No. | 731105201 |
1 |
Name of reporting person
Geely Sweden Holdings AB | ||||||||
2 | Check the appropriate box if a member of a Group (See Instructions)
![]() ![]() | ||||||||
3 | SEC use only | ||||||||
4 |
Source of funds (See Instructions)
WC, OO | ||||||||
5 |
Check if disclosure of legal proceedings is required pursuant to Items 2(d) or 2(e)
![]() | ||||||||
6 | Citizenship or place of organization
SWEDEN
| ||||||||
Number of Shares Beneficially Owned by Each Reporting Person With: |
| ||||||||
11 | Aggregate amount beneficially owned by each reporting person
897,031,564.00 | ||||||||
12 | Check if the aggregate amount in Row (11) excludes certain shares (See Instructions)
![]() | ||||||||
13 | Percent of class represented by amount in Row (11)
42.3 % | ||||||||
14 | Type of Reporting Person (See Instructions)
CO |
SCHEDULE 13D
|
CUSIP No. | 731105201 |
1 |
Name of reporting person
Shanghai Geely Zhaoyuan International Investment Co., Ltd | ||||||||
2 | Check the appropriate box if a member of a Group (See Instructions)
![]() ![]() | ||||||||
3 | SEC use only | ||||||||
4 |
Source of funds (See Instructions)
WC, OO | ||||||||
5 |
Check if disclosure of legal proceedings is required pursuant to Items 2(d) or 2(e)
![]() | ||||||||
6 | Citizenship or place of organization
CHINA
| ||||||||
Number of Shares Beneficially Owned by Each Reporting Person With: |
| ||||||||
11 | Aggregate amount beneficially owned by each reporting person
897,031,564.00 | ||||||||
12 | Check if the aggregate amount in Row (11) excludes certain shares (See Instructions)
![]() | ||||||||
13 | Percent of class represented by amount in Row (11)
42.3 % | ||||||||
14 | Type of Reporting Person (See Instructions)
CO |
SCHEDULE 13D
|
CUSIP No. | 731105201 |
1 |
Name of reporting person
Beijing Geely Wanyuan International Investment Co., Ltd | ||||||||
2 | Check the appropriate box if a member of a Group (See Instructions)
![]() ![]() | ||||||||
3 | SEC use only | ||||||||
4 |
Source of funds (See Instructions)
WC, OO | ||||||||
5 |
Check if disclosure of legal proceedings is required pursuant to Items 2(d) or 2(e)
![]() | ||||||||
6 | Citizenship or place of organization
CHINA
| ||||||||
Number of Shares Beneficially Owned by Each Reporting Person With: |
| ||||||||
11 | Aggregate amount beneficially owned by each reporting person
897,031,564.00 | ||||||||
12 | Check if the aggregate amount in Row (11) excludes certain shares (See Instructions)
![]() | ||||||||
13 | Percent of class represented by amount in Row (11)
42.3 % | ||||||||
14 | Type of Reporting Person (See Instructions)
CO |
SCHEDULE 13D
|
CUSIP No. | 731105201 |
1 |
Name of reporting person
Beijing Geely Kaisheng International Investment Co., Ltd | ||||||||
2 | Check the appropriate box if a member of a Group (See Instructions)
![]() ![]() | ||||||||
3 | SEC use only | ||||||||
4 |
Source of funds (See Instructions)
WC, OO | ||||||||
5 |
Check if disclosure of legal proceedings is required pursuant to Items 2(d) or 2(e)
![]() | ||||||||
6 | Citizenship or place of organization
CHINA
| ||||||||
Number of Shares Beneficially Owned by Each Reporting Person With: |
| ||||||||
11 | Aggregate amount beneficially owned by each reporting person
897,031,564.00 | ||||||||
12 | Check if the aggregate amount in Row (11) excludes certain shares (See Instructions)
![]() | ||||||||
13 | Percent of class represented by amount in Row (11)
42.3 % | ||||||||
14 | Type of Reporting Person (See Instructions)
CO |
SCHEDULE 13D
|
CUSIP No. | 731105201 |
1 |
Name of reporting person
Zhejiang Geely Holding Group Company Limited | ||||||||
2 | Check the appropriate box if a member of a Group (See Instructions)
![]() ![]() | ||||||||
3 | SEC use only | ||||||||
4 |
Source of funds (See Instructions)
WC, OO | ||||||||
5 |
Check if disclosure of legal proceedings is required pursuant to Items 2(d) or 2(e)
![]() | ||||||||
6 | Citizenship or place of organization
CHINA
| ||||||||
Number of Shares Beneficially Owned by Each Reporting Person With: |
| ||||||||
11 | Aggregate amount beneficially owned by each reporting person
897,031,564.00 | ||||||||
12 | Check if the aggregate amount in Row (11) excludes certain shares (See Instructions)
![]() | ||||||||
13 | Percent of class represented by amount in Row (11)
42.3 % | ||||||||
14 | Type of Reporting Person (See Instructions)
CO |
SCHEDULE 13D
|
CUSIP No. | 731105201 |
1 |
Name of reporting person
Geely Sweden Automative Investment B.V. | ||||||||
2 | Check the appropriate box if a member of a Group (See Instructions)
![]() ![]() | ||||||||
3 | SEC use only | ||||||||
4 |
Source of funds (See Instructions)
WC, OO | ||||||||
5 |
Check if disclosure of legal proceedings is required pursuant to Items 2(d) or 2(e)
![]() | ||||||||
6 | Citizenship or place of organization
NETHERLANDS
| ||||||||
Number of Shares Beneficially Owned by Each Reporting Person With: |
| ||||||||
11 | Aggregate amount beneficially owned by each reporting person
502,156,334.00 | ||||||||
12 | Check if the aggregate amount in Row (11) excludes certain shares (See Instructions)
![]() | ||||||||
13 | Percent of class represented by amount in Row (11)
23.7 % | ||||||||
14 | Type of Reporting Person (See Instructions)
CO |
SCHEDULE 13D
|
Item 1. | Security and Issuer | |
(a) | Title of Class of Securities:
Class A American Depositary Shares, Class A Ordinary Shares, par value $0.01 each | |
(b) | Name of Issuer:
Polestar Automotive Holding UK PLC | |
(c) | Address of Issuer's Principal Executive Offices:
Assar Gabrielssons Vag 9, Gothenburg,
SWEDEN
, 405 31. | |
Item 1 Comment:
This Amendment No. 6 to Schedule 13D ("Amendment No. 6") amends and supplements the Statement on Schedule 13D filed with the United States Securities and Exchange Commission on July 7, 2022 (as amended to date, the "Statement"), relating to Class A ordinary shares, par value $0.01 per share (the "Class A Shares") of Polestar Automotive Holding UK PLC, a limited company incorporated under the laws of England and Wales (the "Issuer"). Capitalized terms used herein without definition shall have the meaning set forth in the Statement. | ||
Item 2. | Identity and Background | |
(a) | Item 2 of the Statement is hereby amended and supplemented by inserting the following:
The information contained in Schedule 1-A to this Statement is incorporated herein by reference. | |
(b) | See Item 2(a) | |
(c) | See Item 2(a) | |
(d) | See Item 2(a) | |
(e) | See Item 2(a) | |
(f) | See Item 2(a) | |
Item 4. | Purpose of Transaction | |
Item 4 of the Statement is hereby amended and supplemented by inserting the following:
Purchase Agreement
On June 16, 2025, PSD Investment Limited entered into a purchase agreement (the "Purchase Agreement") with the Issuer, pursuant to which the Issuer agreed to sell 190,476,190 Class A American Depositary Shares (the "Class A ADS shares") to PSD Investment Limited for an aggregate purchase price of $200,000,000 through a private investment in public equity ("PIPE"). The price per Class A ADS to be purchased at the closing will be $1.05, equal to the volume weighted average closing sale price of one Class A ADS as reported by NASDAQ for the 5 trading days immediately preceding the date of the Purchase Agreement. PSD Investment Limited and the Issuer will enter into a registration rights agreement to grant PSD Investment Limited customary registration rights with respect to the Class A ADSs that will be received pursuant to the Purchase Agreement.
Additionally, PSD Investment Limited has notified the Issuer that it intends to convert 20,000,000 Class B ADS shares into Class A ADS shares as soon as practicable (the "Conversion") to ensure PSD Investment Limited's voting power remains below 50%. The closing of the PIPE is expected to occur one business day following PSD Investment Limited's notification to the Issuer that the Conversion has been completed, or another date as mutually agreed to by the parties.
The foregoing description of the Purchase Agreement does not purport to be complete and is qualified in its entirety by the full text of the agreement, which is included as an exhibit to this Schedule 13D and is incorporated herein by reference. | ||
Item 5. | Interest in Securities of the Issuer | |
(a) | Item 5(a) of the Statement is hereby amended and restated in its entirety as follows:
The information contained on the cover pages to this Statement is incorporated herein by reference.
The percentages of beneficial ownership set forth herein are based on (i) 2,069,399,389 Class A Shares in the form of Class A ADSs and (ii) 49,892,575 Class B Shares in the form of Class B ADSs, issued and outstanding as of May 31, 2025. | |
(b) | Item 5(b) of the Statement is hereby amended and restated in its entirety as follows:
The information contained on the cover pages to this Statement is incorporated herein by reference. | |
(c) | Item 5(c) of the Statement is hereby amended and supplemented as follows:
In the last 60 days, the Reporting Persons have not effected any transactions in the Issuer's Shares. | |
(d) | None. | |
(e) | Not applicable. | |
Item 6. | Contracts, Arrangements, Understandings or Relationships With Respect to Securities of the Issuer | |
Item 6 of the Statement is hereby amended and supplemented by inserting the following:
Item 4 above summarizes certain provisions of the Purchase Agreement and is incorporated herein by reference. A copy of the Purchase Agreement is filed as an exhibit to this Schedule 13D and incorporated herein by reference.
Except as set forth herein, none of the Reporting Persons has any contracts, arrangements, understandings or relationships (legal or otherwise) with any person with respect to any securities of the Issuer, including, but not limited to, any contracts, arrangements, understandings or relationships concerning the transfer or voting of such securities, finder's fees, joint ventures, loan or option arrangements, puts or calls, guarantees of profits, division of profits or losses, or the giving or withholding of proxies. | ||
Item 7. | Material to be Filed as Exhibits. | |
Item 7 of the Statement is hereby amended and supplemented by inserting the following:
Exhibit 3: Purchase Agreement, dated June 16, 2025, by and between Polestar Automotive Holding UK PLC and PSD Investment Limited (incorporated by reference to Exhibit 10.1 to the Issuer's Report of Foreign Private Issuer on Form 6-K as filed with the Securities and Exchange Commission on June 16, 2025).
Schedule A-1 |
SIGNATURE | |
After reasonable inquiry and to the best of my knowledge and belief, I certify that the information set forth in this statement is true, complete and correct.
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SCHEDULE A-1
Information with Respect to
Executive Officers and Directors of the Undersigned
The following sets forth as to each of the executive officers (if any) and directors of the undersigned: his/her name; his/her business address; his/her present principal occupation or employment and the name, principal business and address of any corporation or other organization in which such employment is conducted.
To the knowledge of the undersigned, during the last five years, no such person has been convicted in a criminal proceeding (excluding traffic violations or similar misdemeanors), and no such person was a party to a civil proceeding of a judicial or administrative body of competent jurisdiction as a result of which he was or is subject to a judgment, decree or final order enjoining future violations of, or prohibiting or mandating activities subject to, federal or state securities law or finding any violation with respect to such laws except as reported in Item 2(d) and (e) of this Schedule 13D.
Snita Holding B.V. (“Snita”)
Unless otherwise specified, the principal employer of each such individual is Snita. The business address of Snita is Stationsweg 2, Beesd, 4153 RD, Netherlands.
Name | Title | Citizenship |
Johan Ekdahl | Director | Sweden |
Helen Hu | Director | China |
PSD Investment Limited (“PSD Investment”)
Unless otherwise specified, the principal employer of each such individual is PSD Investment. The business address of PSD Investment is Craigmuir Chambers, Road Town, Tortola, VG 1110, British Virgin Islands.
Name | Title | Citizenship |
Shufu Li | Director | China |
Volvo Car Corporation (“Volvo Cars”)
Unless otherwise specified, the principal employer of each such individual is Volvo Cars. The business address of Volvo Cars is Avd. 50090 HB3S, 405 31 Göteborg, Sweden.
Name | Title | Citizenship |
Håkan Samuelsson | Director | Sweden |
Helen Hu | Director | China |
Fredrik Hansson | Director | Sweden |
PSD Capital Limited (“PSD Capital”)
Unless otherwise specified, the principal employer of each such individual is PSD Capital. The business address of PSD Capital is Craigmuir Chambers, Road Town, Tortola, VG 1110, British Virgin Islands.
Name | Title | Citizenship |
Shufu Li | Director | China |
Volvo Car AB (“VCAB”)
Unless otherwise specified, the principal employer of each such individual is VCAB. The business address of VCAB is Avd. 50090 HB3S, 405 31 Göteborg, Sweden.
Name | Title | Citizenship |
Håkan Samuelsson | Managing Director | Sweden |
Eric Li (Shufu Li) | Director/Chairman | China |
Lone Föns Schröder | Director/Vice Chairman | Denmark |
Anna Mossberg | Director | Sweden |
Lilla Tretikov | Director | United States |
Daniel Li (Donghui Li) | Director | China |
Diarmuid O’Connell | Director | United States |
Jonas Samuelsson | Director | Sweden |
Ruby Lu | Director | China |
Jörgen Olsson | Director (Employee Representative) | Sweden |
Ardian Avdullahu | Director (Employee Representative) | Sweden |
Zara Biske | Director (Employee Representative) | Sweden |
Anna Margitin Blomberg | Deputy Director (Employee Representative) | Sweden |
Marie Stenqvist | Deputy Director (Employee Representative) | Sweden |
Geely Sweden Holdings AB (“Geely Sweden”)
Unless otherwise specified, the principal employer of each such individual is Geely Sweden. The business address of Geely Sweden is Box 10038, 400 70 Göteborg, Sweden.
Name | Title | Citizenship |
Shufu Li | Director | China |
Donghui Li | Director | China |
Per Ansgar | Director | Sweden |
Lone Fönss Schröder | Director | Denmark |
Shanghai Geely Zhaoyuan International Investment Co., Ltd (“Shanghai Geely”)
Unless otherwise specified, the principal employer of each such individual is Shanghai Geely. The business address of Shanghai Geely is Room 1478, Building 10, No. 1630 Yecheng Road, Jiangding District, Shanghai, China.
Name | Title | Citizenship |
Donghui Li | Director | China |
Beijing Geely Wanyuan International Investment Co. Ltd (“Beijing Geely Wanyuan”)
Unless otherwise specified, the principal employer of each such individual is Beijing Geely Wanyuan. The business address of Beijing Geely Wanyuan is Room 409, Level 4, Building 4, Yard 4, Yongchang Zhong Road, Beijing Economic-Technological Development Area, Beijing, China.
Name | Title | Citizenship |
Quan Zhang | Director | China |
Beijing Geely Kaisheng International Investment Co., Ltd. (“Beijing Geely Kaisheng”)
Unless otherwise specified, the principal employer of each such individual is Beijing Geely Kaisheng. The business address of Beijing Geely Kaisheng is Room 409, Level 4, Building 4, Yard 4, Yongchang Zhong Road, Beijing Economic-Technological Development Area, Beijing, China.
Name | Title | Citizenship |
Quan Zhang | Director | China |
Zhejiang Geely Holding Group Company Limited (“Zhejiang Geely”)
Unless otherwise specified, the principal employer of each such individual is Zhejiang Geely. The business address of Zhejiang Geely is No. 1760 Jiangling Road, Binjiang District, Hangzhou, Zhejiang, China.
Name | Title | Citizenship |
Shufu Li | Director | China |
Donghui Li | Director | China |
Jian Yang | Director | China |
Winnie Fok | Director | Hong Kong SAR, China |
Xingui Wang | Director | China |
Weilie Ye | Director | China |
Geely Sweden Automotive Investment B.V. (“GSAI”)
Unless otherwise specified, the principal employer of each such individual is GSAI. The business address of GSAI is Stationsveg 2, 4153RD Beesd, Netherlands.
Name | Title | Citizenship |
Quan Zhang | Director | China |
Per Ansgar | Director | Sweden |
Hendrik van der Gaag | Director | Netherlands |
Jacob Huibert Verkerk | Director | Netherlands |