Polestar Automotive shares surge 21.62% intraday after reporting improved product mix and profit margins, ranking third in Swedish market.

Polestar Automotive Holding UK Plc surged 21.62% intraday, driven by the release of its 2024 annual report on May 9, 2025, highlighting the optimization of its product mix and increased profitability due to the high-priced Polestar 3 and Polestar 4 models. The company also reported ranking third in the Swedish automotive market, surpassing Tesla, with 21 dealerships covering the Arctic Circle region, benefiting from local demand as 39% of gasoline car owners switch to electric vehicles. Additionally, Polestar plans to launch the Polestar 5 luxury sedan in 2025, expanding its luxury electric vehicle lineup.