| Intangible assets and goodwill |
Note 7 - Intangible assets and goodwill The changes in Polestar Group's intangible assets, goodwill and trademarks are as follows: | | | | | | | | | | | | | | | | | | | | | | Internally developed IP | Software | Acquired IP | Goodwill | Trademarks | Total | Acquisition cost | | | | | | | Balance as of January 1, 2026 | 682,645 | | 17,177 | | 2,311,582 | | 52,386 | | 2,602 | | 3,066,392 | | Additions1 | 38,658 | | — | | 60,143 | | — | | — | | 98,801 | | Derecognition due to program changes | (10,558) | | — | | — | | — | | — | | (10,558) | | | | | | | | | Effect of foreign currency exchange differences | (35,509) | | (628) | | (85,906) | | (2,672) | | (133) | | (124,848) | | Balance as of June 30, 2026 | 675,236 | | 16,549 | | 2,285,819 | | 49,714 | | 2,469 | | 3,029,787 | | Balance as of January 1, 2025 | 455,029 | | 11,665 | | 1,811,120 | | 43,793 | | 2,175 | | 2,323,782 | | Additions1 | 73,747 | | 760 | | 83,887 | | — | | — | | 158,394 | | Derecognition due to program changes | — | | — | | — | | — | | — | | — | | Reclassifications | — | | (3) | | 3 | | — | | — | | — | | Effect of foreign currency exchange differences | 77,232 | | 1,874 | | 236,539 | | 7,001 | | 348 | | 322,994 | | Balance as of June 30, 2025 | 606,008 | | 14,296 | | 2,131,549 | | 50,794 | | 2,523 | | 2,805,170 | | | | | | | | | Accumulated amortization and impairment | | | | | | | Balance as of January 1, 2026 | (536,890) | | (7,498) | | (1,821,678) | | — | | — | | (2,366,066) | | Amortization expense | — | | (1,155) | | (48) | | — | | — | | (1,203) | | Amortization capitalized into inventory | (2,279) | | — | | (30,917) | | — | | — | | (33,196) | | | | | | | | | | | | | | | | Effect of foreign currency exchange differences | 7,481 | | 337 | | 26,280 | | — | | — | | 34,098 | | Balance as of June 30, 2026 | (531,688) | | (8,316) | | (1,826,363) | | — | | — | | (2,366,367) | | Balance as of January 1, 2025 | (332,488) | | (4,380) | | (946,065) | | — | | — | | (1,282,933) | | Amortization expense | — | | (931) | | (3,210) | | — | | — | | (4,141) | | Amortization expense capitalized into inventory | (1,193) | | — | | (31,765) | | — | | — | | (32,958) | | Impairment loss | (13,708) | | — | | (480,798) | | — | | — | | (494,506) | | Effect of foreign currency exchange rate differences | (52,214) | | (588) | | (100,165) | | — | | — | | (152,967) | | Balance as of June 30, 2025 | (399,603) | | (5,899) | | (1,562,003) | | — | | — | | (1,967,505) | | | | | | | | | Carrying amount as of June 30, 2026 | 143,548 | | 8,233 | | 459,456 | | 49,714 | | 2,469 | | 663,420 | | Carrying amount as of December 31, 2025 | 145,755 | | 9,679 | | 489,904 | | 52,386 | | 2,602 | | 700,326 | |
1 – Of $98,801 in additions for the six months ended June 30, 2026, $57,418 was settled in cash. In the Unaudited Condensed Consolidated Statement of Cash Flows, this $57,418 is included as investing activities in the $145,216 additions to intangible assets, and the remaining $87,798 relates to additions from prior periods which were settled in cash during the six months ended June 30, 2026. Of $158,394 in additions for the six months ended June 30, 2025, $71,152 has been settled in cash. These $71,152 are included in the $201,581 cash used for investing activities related to additions to intangible assets, and the remaining $130,429 relates to additions from prior periods which were settled in cash during the six months ended June 30, 2025. The significant additions in the six months ended June 30, 2026 related to: •Additions to Internally developed IP are primarily related to the Polestar 4, Polestar 5 and various other internal programs, such as model year updates. •Additions to Acquired IP are primarily related to acquisitions of Polestar 2, Polestar 4 and Polestar 5 model year updates.
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