[SCHEDULE 13D/A] Polestar Automotive Holding UK PLC Amended Major Shareholder Report

Rhea-AI Filing Summary

Polestar Automotive Holding UK PLC is updating major shareholder information and capital structure. Snita Holding B.V. agreed to convert approximately USD 339 million of principal under its term loan to Polestar equity in two tranches. The first tranche closed on March 31, 2026, turning about USD 274 million into 16,150,000 Class A American Depositary Shares. A second tranche, expected before June 30, 2026, will convert about USD 65 million into 3,850,000 Class A ADSs. The remaining approximately USD 726 million of loan principal (USD 661 million after the second tranche) now matures on December 31, 2031, with the margin increased from 4.97% to 5.4%. Snita also gains the right to convert further principal to maintain a 19.9% beneficial ownership of combined Class A and Class B ADSs. As of March 31, 2026, 143,865,248 Class A ADSs and 996,419 Class B ADSs were outstanding.

Insights

Equity & capital structure analyst

Large insider debt converts to equity, extending maturities and altering Polestar’s ownership mix.

Polestar has agreed with Snita Holding B.V. to convert approximately USD 339 million of term loan principal into equity in two tranches, issuing 20 million Class A ADSs in total. This reduces secured debt while increasing the free float and concentrated insider ownership.

After these conversions, around USD 726 million of principal (or USD 661 million after the second tranche) under the Snita facility will mature on December 31, 2031, with the margin rising from 4.97% to 5.4%. This lengthens the debt profile but slightly increases interest cost on the remaining balance.

Snita’s right to convert further principal to maintain a 19.9% beneficial ownership in combined Class A and Class B ADSs links future financing choices to equity issuance. The disclosure also confirms total outstanding of 143,865,248 Class A ADSs and 996,419 Class B ADSs as of March 31, 2026, giving investors a clearer picture of current dilution and control.

Key Figures

Debt converted to equity: approximately USD 339 million Remaining loan principal: approximately USD 726 million Loan principal after second tranche: USD 661 million +5 more

8 metrics

Debt converted to equity approximately USD 339 million Snita Term Loan Facility principal to be converted

Remaining loan principal approximately USD 726 million Snita Term Loan Facility principal after initial conversion

Loan principal after second tranche USD 661 million Snita facility balance after both planned conversions

Interest margin change 4.97% to 5.4% Snita Term Loan Facility margin adjustment

First tranche ADSs 16,150,000 ADSs Issued March 31, 2026 under first conversion tranche

Second tranche ADSs 3,850,000 ADSs To be issued before June 30, 2026 under second tranche

Snita target ownership 19.9% Beneficial ownership of combined Class A and B ADSs

Class A ADSs outstanding 143,865,248 Issued and outstanding as of March 31, 2026

Key Terms

American Depositary Shares, Schedule 13D, Term Facility Agreement, beneficial ownership, +2 more

6 terms

American Depositary Shares financial

"Class A American Depositary Shares, Class A Ordinary Shares, par value $0.01 each"

American depositary shares (ADSs) are a way for investors in the United States to buy shares of foreign companies without dealing with international markets directly. They represent ownership in a foreign company's stock and are traded on U.S. stock exchanges, making it easier for American investors to buy, sell, and own parts of companies from around the world.

Schedule 13D regulatory

"amends and supplements the Statement on filed with the on July 7, 2022"

A Schedule 13D is a legal document that investors file with regulators when they buy a large enough stake in a company to potentially influence its management or decisions. It provides details about the investor’s intention, ownership stake, and plans, helping other investors understand who is gaining control and what their motives might be.

Term Facility Agreement financial

"outstanding principal owed by Polestar under the Term Facility Agreement, dated November 3, 2022"

A term facility agreement is a legally binding loan contract that gives a borrower a fixed amount of money to be repaid over a set schedule with agreed interest and conditions, like a long-term mortgage for a company. Investors care because its size, interest cost, repayment timeline and rules about company behavior affect cash flow, credit risk and potential need for more financing or asset sales, and therefore influence share value and risk.

beneficial ownership financial

"so as to maintain a beneficial ownership in Polestar of 19.9% of the combined Class A and Class B ADSs"

Beneficial ownership means the person or entity that actually enjoys the benefits of owning shares or other assets — such as receiving dividends, voting rights, or price gains — even if the legal title is held in another name. For investors it matters because knowing who truly controls and profits from a company reveals who can influence decisions, exposes potential conflicts of interest or hidden concentration of power, and affects transparency and risk in the stock.

Conversion agreement financial

"Exhibit Number 1 Conversion agreement dated March 31, 2026."

A conversion agreement is a contract that lets one kind of financial instrument—such as a loan, bond, or preferred share—be exchanged for common stock under set terms. Think of it like a coupon that can be traded in for ownership shares at a pre-agreed rate; investors care because it changes how many shares exist and who controls the company, which can dilute existing owners, alter valuation, and affect potential returns.

margin financial

"changes the margin of the Snita Term Loan Facility from 4.97% to 5.4%"

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SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549

SCHEDULE 13D

Under the Securities Exchange Act of 1934

(Amendment No. 14)

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
No. 1760 Jiangling Road,, Binjiang District
Hangzhou, F4, 3100 51
86-571-2809-8282

(Name, Address and Telephone Number of Person Authorized to Receive Notices and Communications)

03/31/2026

(Date of Event Which Requires Filing of This Statement)

If the filing person has previously filed a statement on Schedule 13G to report the acquisition that is the subject of this Schedule 13D, and is filing this schedule because of §§ 240.13d-1(e), 240.13d-1(f) or 240.13d-1(g), check the following box.

The information required on the remainder of this cover page shall not be deemed to be "filed" for the purpose of Section 18 of the Securities Exchange Act of 1934 ("Act") or otherwise subject to the liabilities of that section of the Act but shall be subject to all other provisions of the Act (however, see the Notes).

schemaVersion:

SCHEDULE 13D

CUSIP Number(s): 731105201

1

Name of reporting person

Eric Li

2

Check the appropriate box if a member of a Group (See Instructions)

(a)
(b)

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:

7	Sole Voting Power 88,949,747.00
8	Shared Voting Power 0.00
9	Sole Dispositive Power 79,981,976.00
10	Shared Dispositive Power 0.00

11

Aggregate amount beneficially owned by each reporting person

79,981,976.00

12

Check if the aggregate amount in Row (11) excludes certain shares (See Instructions)

13

Percent of class represented by amount in Row (11)

55.2 %

14

Type of Reporting Person (See Instructions)

IN

SCHEDULE 13D

CUSIP Number(s): 731105201

1

Name of reporting person

Volvo Car Corporation

2

Check the appropriate box if a member of a Group (See Instructions)

(a)
(b)

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:

7	Sole Voting Power 28,827,431.00
8	Shared Voting Power 0.00
9	Sole Dispositive Power 28,827,431.00
10	Shared Dispositive Power 0.00

11

Aggregate amount beneficially owned by each reporting person

28,827,431.00

12

Check if the aggregate amount in Row (11) excludes certain shares (See Instructions)

13

Percent of class represented by amount in Row (11)

19.9 %

14

Type of Reporting Person (See Instructions)

CO

SCHEDULE 13D

CUSIP Number(s): 731105201

1

Name of reporting person

PSD Investment Limited

2

Check the appropriate box if a member of a Group (See Instructions)

(a)
(b)

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)

6

Citizenship or place of organization

VIRGIN ISLANDS, BRITISH

Number of Shares Beneficially Owned by Each Reporting Person With:

7	Sole Voting Power 42,917,431.00
8	Shared Voting Power 0.00
9	Sole Dispositive Power 33,949,660.00
10	Shared Dispositive Power 0.00

11

Aggregate amount beneficially owned by each reporting person

33,949,660.00

12

Check if the aggregate amount in Row (11) excludes certain shares (See Instructions)

13

Percent of class represented by amount in Row (11)

23.4 %

14

Type of Reporting Person (See Instructions)

CO

SCHEDULE 13D

CUSIP Number(s): 731105201

1

Name of reporting person

PSD Capital Limited

2

Check the appropriate box if a member of a Group (See Instructions)

(a)
(b)

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)

6

Citizenship or place of organization

VIRGIN ISLANDS, BRITISH

Number of Shares Beneficially Owned by Each Reporting Person With:

7	Sole Voting Power 42,917,431.00
8	Shared Voting Power 0.00
9	Sole Dispositive Power 33,949,660.00
10	Shared Dispositive Power 0.00

11

Aggregate amount beneficially owned by each reporting person

33,949,660.00

12

Check if the aggregate amount in Row (11) excludes certain shares (See Instructions)

13

Percent of class represented by amount in Row (11)

23.4 %

14

Type of Reporting Person (See Instructions)

CO

SCHEDULE 13D

CUSIP Number(s): 731105201

1

Name of reporting person

Snita Holding B.V.

2

Check the appropriate box if a member of a Group (See Instructions)

(a)
(b)

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)

6

Citizenship or place of organization

NETHERLANDS

Number of Shares Beneficially Owned by Each Reporting Person With:

7	Sole Voting Power 28,827,431.00
8	Shared Voting Power 0.00
9	Sole Dispositive Power 28,827,431.00
10	Shared Dispositive Power 0.00

11

Aggregate amount beneficially owned by each reporting person

28,827,431.00

12

Check if the aggregate amount in Row (11) excludes certain shares (See Instructions)

13

Percent of class represented by amount in Row (11)

19.9 %

14

Type of Reporting Person (See Instructions)

CO

SCHEDULE 13D

CUSIP Number(s): 731105201

1

Name of reporting person

Volvo Car AB

2

Check the appropriate box if a member of a Group (See Instructions)

(a)
(b)

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:

7	Sole Voting Power 28,827,431.00
8	Shared Voting Power 0.00
9	Sole Dispositive Power 0.00
10	Shared Dispositive Power 28,827,431.00

11

Aggregate amount beneficially owned by each reporting person

28,827,431.00

12

Check if the aggregate amount in Row (11) excludes certain shares (See Instructions)

13

Percent of class represented by amount in Row (11)

19.9 %

14

Type of Reporting Person (See Instructions)

CO

SCHEDULE 13D

CUSIP Number(s): 731105201

1

Name of reporting person

Geely Sweden Holdings AB

2

Check the appropriate box if a member of a Group (See Instructions)

(a)
(b)

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:

7	Sole Voting Power 46,032,316.00
8	Shared Voting Power 0.00
9	Sole Dispositive Power 46,032,316.00
10	Shared Dispositive Power 0.00

11

Aggregate amount beneficially owned by each reporting person

46,032,316.00

12

Check if the aggregate amount in Row (11) excludes certain shares (See Instructions)

13

Percent of class represented by amount in Row (11)

31.8 %

14

Type of Reporting Person (See Instructions)

CO

SCHEDULE 13D

CUSIP Number(s): 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)

(a)
(b)

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:

7	Sole Voting Power 46,032,316.00
8	Shared Voting Power 0.00
9	Sole Dispositive Power 46,032,316.00
10	Shared Dispositive Power 0.00

11

Aggregate amount beneficially owned by each reporting person

46,032,316.00

12

Check if the aggregate amount in Row (11) excludes certain shares (See Instructions)

13

Percent of class represented by amount in Row (11)

31.8 %

14

Type of Reporting Person (See Instructions)

CO

SCHEDULE 13D

CUSIP Number(s): 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)

(a)
(b)

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:

7	Sole Voting Power 46,032,316.00
8	Shared Voting Power 0.00
9	Sole Dispositive Power 46,032,316.00
10	Shared Dispositive Power 0.00

11

Aggregate amount beneficially owned by each reporting person

46,032,316.00

12

Check if the aggregate amount in Row (11) excludes certain shares (See Instructions)

13

Percent of class represented by amount in Row (11)

31.8 %

14

Type of Reporting Person (See Instructions)

CO

SCHEDULE 13D

CUSIP Number(s): 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)

(a)
(b)

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:

7	Sole Voting Power 46,032,316.00
8	Shared Voting Power 0.00
9	Sole Dispositive Power 46,032,316.00
10	Shared Dispositive Power 0.00

11

Aggregate amount beneficially owned by each reporting person

46,032,316.00

12

Check if the aggregate amount in Row (11) excludes certain shares (See Instructions)

13

Percent of class represented by amount in Row (11)

31.8 %

14

Type of Reporting Person (See Instructions)

CO

SCHEDULE 13D

CUSIP Number(s): 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)

(a)
(b)

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:

7	Sole Voting Power 46,032,316.00
8	Shared Voting Power 0.00
9	Sole Dispositive Power 46,032,316.00
10	Shared Dispositive Power 0.00

11

Aggregate amount beneficially owned by each reporting person

46,032,316.00

12

Check if the aggregate amount in Row (11) excludes certain shares (See Instructions)

13

Percent of class represented by amount in Row (11)

31.8 %

14

Type of Reporting Person (See Instructions)

CO

SCHEDULE 13D

CUSIP Number(s): 731105201

1

Name of reporting person

Geely Sweden Automotive Investment B.V.

2

Check the appropriate box if a member of a Group (See Instructions)

(a)
(b)

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:

7	Sole Voting Power 16,738,542.00
8	Shared Voting Power 0.00
9	Sole Dispositive Power 16,738,542.00
10	Shared Dispositive Power 0.00

11

Aggregate amount beneficially owned by each reporting person

16,738,542.00

12

Check if the aggregate amount in Row (11) excludes certain shares (See Instructions)

13

Percent of class represented by amount in Row (11)

11.6 %

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, Goteborg, SWEDEN , 405 31.
Item 1 Comment: This Amendment No. 14 to Schedule 13D ("Amendment No. 14") 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 4.	Purpose of Transaction
	Item 4 of the Statement is hereby amended and supplemented by inserting the following: Snita Holding B.V. ("Snita") has agreed with Polestar Automotive Holding UK PLC ("Polestar") to convert approximately USD 339 million of the outstanding principal owed by Polestar under the Term Facility Agreement, dated November 3, 2022, as amended by an Amendment Letter dated November 8, 2023, an Amendment Letter dated August 21, 2024 and an Amendment Letter dated as of March 31 2026 (the "Third Facility Amendment") (the "Snita Term Loan Facility"), into Polestar equity. The Third Facility Amendment extends the maturity of the remaining approximately USD 726 million of loan principal (USD 661 million after the second tranche of the conversion described below)) under the Snita Term Loan Facility to December 31, 2031, and changes the margin of the Snita Term Loan Facility from 4.97% to 5.4%. This conversion is expected to be completed in two tranches. The first tranche was completed on March 31, 2026, whereby Snita converted approximately USD 274 million of principal outstanding under the Snita Term Loan Facility into 16,150,000 Class A American Depositary Shares ("ADSs") of Polestar. The second tranche is expected to be completed before June 30, 2026, whereby Snita will convert approximately USD 65 million into 3,850,000 Class A ADSs of Polestar. The closing of the second tranche is anticipated to occur immediately following the previously announced conversion by Geely Sweden Holdings AB of approximately USD 300 million of its outstanding principal and interest owed by Polestar under a Term Facility Agreement, dated 8 November 2023, into Polestar equity, which remains subject to regulatory approvals. In the event that Polestar issues new equity in the future that results in the dilution of Snita's holdings, the conversion agreement provides Snita with the right to convert additional principal amount of loans outstanding under Snita Term Loan Facility into Polestar equity so as to maintain a beneficial ownership in Polestar of 19.9% of the combined Class A and Class B ADSs in issue, and Snita has agreed to consider effecting such further conversions.
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) 143,865,248 Class A ADSs and (ii) 996,419 Class B ADSs, issued and outstanding as of March 31, 2026.
(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: The Reporting Persons have not effected any transactions in the Issuer's Shares since Amendment No. 13.
(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: The information set forth in Item 4 above is incorporated herein by reference.
Item 7.	Material to be Filed as Exhibits.
	Exhibit Number 1 Conversion agreement dated March 31, 2026.

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.

Eric Li

Signature:	/s/ Eric Li
Name/Title:	Eric Li (Shufu Li)
Date:	04/02/2026

Volvo Car Corporation

Signature:	/s/ Fredrik Hansson
Name/Title:	Fredrik Hansson, Director & Authorized Signatory
Date:	04/02/2026

Signature:	/s/ Helen Hu
Name/Title:	Helen Hu, Director & Authorized Signatory
Date:	04/02/2026

PSD Investment Limited

Signature:	/s/ Shufu Li
Name/Title:	Shufu Li, Sole Director
Date:	04/02/2026

PSD Capital Limited

Signature:	/s/ Shufu Li
Name/Title:	Shufu Li, Sole Director
Date:	04/02/2026

Snita Holding B.V.

Signature:	/s/ Fredrik Hansson
Name/Title:	Fredrik Hansson, Director & Authorized Signatory
Date:	04/02/2026

Signature:	/s/ Helen Hu
Name/Title:	Helen Hu, Director & Authorized Signatory
Date:	04/02/2026

Volvo Car AB

Signature:	/s/ Fredrik Hansson
Name/Title:	Fredrik Hansson, Authorized Signatory
Date:	04/02/2026

Signature:	/s/ Helen Hu
Name/Title:	Helen Hu, Authorized Signatory
Date:	04/02/2026

Geely Sweden Holdings AB

Signature:	/s/ Shufu Li
Name/Title:	Shufu Li, Director
Date:	04/02/2026

Signature:	/s/ Donghui Li
Name/Title:	Donghui Li, Director
Date:	04/02/2026

Shanghai Geely Zhaoyuan International Investment Co., Ltd

Signature:	/s/ Quang Zhang
Name/Title:	Quan Zhang, Director
Date:	04/02/2026

Beijing Geely Wanyuan International Investment Co., Ltd

Signature:	/s/ Quan Zhang
Name/Title:	Quan Zhang, Director
Date:	04/02/2026

Beijing Geely Kaisheng International Investment Co., Ltd

Signature:	/s/ Quan Zhang
Name/Title:	Quan Zhang, Director
Date:	04/02/2026

Zhejiang Geely Holding Group Company Limited

Signature:	/s/ Conghui An
Name/Title:	Conghui An, Legal Representative & Director
Date:	04/02/2026

Geely Sweden Automotive Investment B.V.

Signature:	/s/ Per Ansgar
Name/Title:	Per Ansgar, Director
Date:	04/02/2026

Signature:	/s/ Quan Zhang
Name/Title:	Quan Zhang, Director
Date:	04/02/2026