Gores Guggenheim : Polestar reveals limited-edition mountain bike in collaboration with Allebike

2022.07.12

ID: 656189

Polestar reveals limited­edition mountain bike in collaboration with Allebike

Unique limited­edition mountain bike co­designed and engineered by Polestar Collaboration with Swedish high­end, family­owned bicycle manufacturer Allebike Bespoke light­weight and rigid CFRP frame with modern geometry and minimalistic design

New flagship product in Polestar Additionals webshop*

Polestar, the Swedish premium electric performance car brand, reveals a hand­built mountain bike with unique design and components, co­engineered with Swedish high­end, family­owned bicycle company, Allebike.

The full suspension mountain bike 'Allebike Alpha Polestar edition' will be sold in a limited edition of 100 bikes and is a new flagship product in the Polestar Additionals webshop*.

"Attention to detail, design and technology is integral when we develop our cars. We created the Allebike Alpha Polestar edition in the same spirit. Together with the great team at Allebike, we have crafted the perfect mountain bike for those who appreciate both a great ride and great design", says Thomas Ingenlath, CEO of Polestar and bicycle enthusiast.

The limited­edition mountain bike is a special version of the versatile Alpha model from Allebike. The bespoke light­weight and rigid carbon fiber­reinforced polymer (CFRP) frame is co­engineered and co­designed by Polestar and Allebike and offers a solid and responsive ride. With modern geometry, developed for the popular "downcountry" class, the bike is ready to tackle any terrain.

A more upright seating position enables efficient climbs, and a slack head tube angle of 65 degrees results in more confidence when riding downhill. Polestar's minimalistic design language is clearly visible with a more angular shape to the frame and a new symmetrical rear swing arm and internal cable routing. A wireless dropper post is standard and wireless shifting is an optional tech feature.

The Allebike Alpha Polestar edition is perfectly colour coordinated with Polestar cars and will only be available in two matte exterior metallic colors, Snow and Space. Unique to the limited­edition mountain bike, dampers and details are painted in Swedish gold, the same color that characterizes the Performance Pack available for Polestar 2.

Like Polestar cars, the full­suspension bike is equipped with state­of­the­art Öhlins dampers. The golden Polestar versions of the Öhlins RXF34 m.2 29 Air Suspension with 130 mm travel (front damper) and the TTX1Air 120 mm travel (rear damper) are tuned specifically to give the limited­edition mountain bike optimal performance.

Each bike is hand built by Allebike in Alingsås, less than an hour from the Polestar global headquarters in Gothenburg, Sweden.

"Allebike Alpha Polestar edition offers a fast, fun and steady experience on both uphill and downhill trails, and puts a smile on the face of every rider. As a Swedish bicycle manufacturer, we are proud to work closely with fellow Swedes Polestar and Öhlins in this project and we are all equally obsessed by tuning every little detail to perfection," says Alexander Blomqvist, Head of Design and Co­founder of Allebike.

Allebike Alpha Polestar edition is a new flagship product in the Polestar Additionals webshop* and will be sold exclusively online. The bike will be available in one size and two colors only for SEK 99 000 (~EUR 9,500).

Explore more about Allebike Alpha Polestar edition in Snowand Space.

Ends.

Notes to Editors:

*The Polestar Additionals webshop was launched in 2021 and offers Polestar lifestyle products like t­shirts, hoodies, bags and water bottles, as well as mobility solutions including the brand­new limited­edition mountain bike Allebike Alpha Polestar edition. Explore more at https://additionals.polestar.com/

Allebike Alpha Polestar edition specification sheet attached.

About Allebike

Allebike is a Swedish family­owned high end bicycle manufacturer founded in 2003. The company is based in Alingsås, a small town outside Gothenburg, Sweden, where the bikes are designed and hand­built by a dedicated team of cyclists. Several of them are competing for the UCI Mountainbike Team Serneke Allebike, including the team director Alexander Blomqvist, Co­founder of the company and the 'Alle' in Allebike. Read more atwww.allebike­ sports.com

Keywords:

Press releases, Polestar 2, Design, Detail, Technology

About Polestar

Polestar Automotive Holding UK PLC (Nasdaq: PSNY) ("Polestar") is a Swedish premium electric vehicle manufacturer. Founded by Volvo Car AB (publ.) (together with its subsidiaries, "Volvo Cars") and Zhejiang Geely Holding Group Co., Ltd ("Geely"), in 2017, Polestar enjoys specific technological and engineering synergies with Volvo Cars and benefits from significant economies of scale as a result.

Polestar is headquartered in Gothenburg, Sweden, and its vehicles are currently available and on the road in markets across Europe, North America, China and Asia Pacific. By 2023, the company plans that its cars will be available in an aggregate of 30 markets. Polestar cars are currently manufactured in two facilities in China, with additional future manufacturing planned in the USA.

In the US, the local Polestar office is located in the New York metro area, in Mahwah, New Jersey. Polestar Spaces have been opened in Los Angeles, the San Francisco Bay Area, and Orange County, Calif.; New York City; Denver, Colorado; Boston; Central and Southern New Jersey; Dallas and Austin, Texas; Detroit; Minneapolis; Phoenix; Seattle; Atlanta; Charlotte, North Carolina; Connecticut; South Florida; and Washington D.C., with more to follow in Central California, the Pacific Northwest, and Hawaii.

Polestar has produced two electric performance cars. The Polestar 1 was built between 2019 and 2021 as a low­volume electric performance hybrid GT with a carbon fiber body, 619 hp, 738 lb­ft of torque, and an electric­only range of 52 miles (EPA) - the longest of any hybrid car in the world.

The Polestar 2 electric performance fastback is the company's first fully electric, high­ volume car. The Polestar 2 model range includes three variants with a combination of long­ and standard range batteries as large as 78 kWh, and dual­ and single­motor powertrains with as much as 408 hp and 487 lb­ft of torque.

From 2022, Polestar plans to launch one new electric vehicle per year, starting with Polestar 3 - the company's first electric performance SUV which is expected to debut in October 2022. Polestar 4 is expected to follow in 2023, a smaller electric performance SUV coupe.

In 2024, the Polestar 5 electric performance 4­door GT is planned to be launched as the production evolution of Polestar Precept - the manifesto concept car that Polestar released in 2020 that showcases the brand's future vision in terms of design, technology, and sustainability. As the company seeks to reduce its climate impact with every new model, Polestar aims to produce a truly climate­neutral car by 2030.

In early March 2022, Polestar revealed its second concept car, the Polestar O₂ electric performance roadster. Polestar O₂ builds on the design, technology and sustainability

ambitions laid out by Precept and showcases the brand's vision for future sports cars. The hard­top convertible presents an evolution of the unique design language first shown by Precept and emphasizes a dynamic driving experience. The concept further develops the focus on sustainability and technology, aiming towards greater circularity.

Forward­Looking Statements

Certain statements in this press release ("Press Release") may be considered "forward­ looking statements" as defined in the Private Securities Litigation Reform Act of 1995. Forward­looking statements generally relate to future events or the future financial or operating performance of Polestar. For example, projections of revenue, volumes and other financial or operating metrics are forward­looking statements. In some cases, you can identify forward­looking statements by terminology such as "may", "should", "expect", "intend", "will", "estimate", "anticipate", "believe", "predict", "potential", "forecast", "plan", "seek", "future", "propose" or "continue", or the negatives of these terms or variations of them or similar terminology. Such forward­looking statements are subject to risks, uncertainties, and other factors which could cause actual results to differ materially from those expressed or implied by such forward looking statements.

These forward­looking statements are based upon estimates and assumptions that, while considered reasonable by Polestar and its management, as the case may be, are inherently uncertain. Factors that may cause actual results to differ materially from current expectations include, but are not limited to: (1) Polestar's ability to maintain agreements or partnerships with its strategic partners Volvo Cars and Geely and to develop new agreements or partnerships; (2) Polestar's ability to maintain relationships with its existing suppliers, and source new suppliers for its critical components, and to complete building out its supply chain, while effectively managing the risks due to such relationships; (3) Polestar's reliance on its partnerships with vehicle charging networks to provide charging solutions for its vehicles and its strategic partners for servicing its vehicles and their integrated software; (4) Polestar's reliance on its partners to manufacture vehicles at a high volume, some of which have limited experience in producing electric vehicles, and on the allocation of sufficient production capacity to Polestar by its partners in order for Polestar to be able to increase its vehicle production capacities; (5) competition, the ability of Polestar to grow and manage growth profitably, maintain relationships with customers and suppliers and retain its management and key employees; (6) Polestar's estimates of expenses and profitability; (7) increases in costs, disruption of supply or shortage of materials, in particular for lithium­ion cells or semiconductors; (8) the possibility that Polestar may be adversely affected by other economic, business, and/or competitive factors; (9) the effects of competition and the high barriers to entry in the automotive industry, and the pace and depth of electric vehicle adoption generally on Polestar's future business; (10) changes in regulatory requirements, governmental incentives and fuel and energy prices; (11) the outcome of any legal proceedings that may be instituted against Polestar or others; (12) the ability to meet stock exchange listing standards; (13) risks associated with changes in applicable laws or regulations and with Polestar's international operations; (14) Polestar's ability to establish its brand and capture additional market share, and the risks associated with negative press or reputational harm, including from lithium­ion battery cells catching fire or venting smoke;

1. delays in the design, manufacture, launch and financing of Polestar's vehicles and Polestar's reliance on a limited number of vehicle models to generate revenues; (16) Polestar's ability to continuously and rapidly innovate, develop and market new products;

1. risks related to future market adoption of Polestar's offerings; (18) risks related to Polestar's distribution model; (19) the impact of the global COVID­19 pandemic, inflation, interest rate changes, the ongoing conflict between Ukraine and Russia, supply chain disruptions and logistical constraints on Polestar, Polestar's projected results of operations, financial performance or other financial and operational metrics, or on any of the foregoing risks; and (20) other risks and uncertainties set forth in the section entitled "Risk Factors" and "Cautionary Note Regarding Forward­Looking Statements" in Polestar's Form 20­F, and other documents filed, or to be filed, with the SEC by Polestar. There may be additional risks that Polestar presently does not know or that Polestar

currently believes are immaterial that could also cause actual results to differ from those contained in the forward­looking statements.

Nothing in this Press Release should be regarded as a representation by any person that the forward­looking statements set forth herein will be achieved or that any of the contemplated results of such forward­looking statements will be achieved. You should not place undue reliance on forward­looking statements, which speak only as of the date they are made. Polestar assumes no obligation to update these forward­looking statements, even if new information becomes available in the future.

Media Contact

Donny Nordlicht [e-mail] Relations

Polestar

Phone: [phone]

JP Canton [e-mail] & Communications

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