NEW YORK, January 1, 2026, 21:16 ET — Market closed
- Polestar shares last closed up 9.5% at $21.37 on Dec. 31.
- BBVA disclosed an 8.4% passive stake in a Schedule 13G; Geely-linked holders updated financing terms in a Schedule 13D amendment.
- Next focus: Polestar’s Q4 retail sales volume update due Jan. 9.
Polestar Automotive Holding UK PLC’s U.S.-listed shares closed sharply higher in the last session of 2025 as investors digested fresh ownership filings that detailed new stakes and financing arrangements around the Swedish electric-vehicle maker.
Why this matters now: Polestar has leaned on its controlling shareholder network for liquidity, and the new documents spell out how banks and Geely-linked entities are structuring exposure — including downside protection and potential equity conversion features.
U.S. equity markets were closed on Thursday for the New Year’s Day holiday, leaving Wednesday’s close as the latest reference point for PSNY.
Polestar ended Dec. 31 up $1.85, or 9.48%, at $21.37, after trading between $19.24 and $21.65, with about 336,600 shares changing hands. The stock was last indicated at $21.24 in extended hours, down about 0.6%.
In a Schedule 13G dated Dec. 31, Banco Bilbao Vizcaya Argentaria S.A. (BBVA) reported beneficial ownership of 7,755,946 Class A American Depositary Shares, representing 8.4% of the class. A Schedule 13G is a filing used to disclose a passive stake of more than 5%.
The filing also said BBVA entered a put option — a contract that gives the holder the right to sell — with Geely Sweden Automotive Investment AB, allowing BBVA to sell the ADSs at the end of a three-year term at a pre-determined price, or earlier if certain events occur.
Separately, a Schedule 13D amendment dated Dec. 30 updated terms around Polestar’s Geely-related financing. Schedule 13D is typically used to disclose large positions that can be associated with influence or control.
That amendment described a $600 million term loan facility with Geely Sweden Automotive Investment AB, including a $300 million committed portion and a second $300 million uncommitted portion that would require lender consent. The lender is a wholly owned subsidiary of Geely Sweden Holdings AB, described in the filing as the parent company of Volvo Car AB.
The document said the facility is available to draw until March 31, 2026, and is repayable six months after any borrowing, unless the lender exercises an option to convert all or part of the loan and accrued interest into shares at a price based on a five-day average of Nasdaq closing prices. The filing also noted that a previously disclosed private investment in public equity (PIPE) transaction closed on Dec. 23.
Polestar’s recent capital-raising has relied on outside financial institutions alongside Geely support. In a Dec. 19 announcement of a $300 million equity investment by BBVA and Natixis and a planned Geely-related debt-to-equity conversion, CEO Michael Lohscheller said the transactions “significantly enhance our liquidity position and help strengthen our balance sheet.” Nasdaq
Investors’ next near-term datapoint is demand. Polestar has said it expects to report its retail sales volumes for the fourth quarter of 2025 on Jan. 9.
Before the next session, traders will also track macro signals that can move rate-sensitive growth stocks. MarketWatch’s calendar showed S&P Global’s final U.S. manufacturing reading for December is due at 9:45 a.m. ET on Friday, Jan. 2.
Beyond Friday, the Institute for Supply Management said its Manufacturing ISM PMI report for December data is scheduled for 10:00 a.m. ET on Monday, Jan. 5, while the U.S. Labor Department’s December employment report is scheduled for 8:30 a.m. ET on Friday, Jan. 9.
On the chart, Wednesday’s session left traders watching the $22 area after the stock peaked near $21.65, with the day’s lows around $19.24 providing the nearest reference for support if momentum fades.
