| Property, plant and equipment |
Note 8 - Property, plant and equipment The table below shows the changes to the carrying amount of tangible assets and right-of-use assets that comprise Property, plant and equipment: | | | | | | | | | | | | | | | | | | | | | | Tangible assets | Right-of-use assets | | | Buildings and land | Machinery and equipment | Assets under construction | Buildings and land | Machinery and equipment | Total | Acquisition cost | | | | | | | Balance as of January 1, 2026 | 9,449 | | 607,199 | | 144,996 | | 112,195 | | 93,043 | | 966,882 | | Additions1 | 135 | | 32,869 | | 13,139 | | 6,808 | | 2,794 | | 55,745 | | Derecognition due to program changes | — | | — | | (504) | | — | | — | | (504) | | Divestments and disposals | (2) | | (170) | | (1,840) | | — | | — | | (2,012) | | Reclassifications | — | | 142,486 | | (142,486) | | — | | — | | — | | | | | | | | | Cancellations | — | | — | | — | | (3,919) | | (1,461) | | (5,380) | | Remeasurement | — | | — | | — | | (8,081) | | (282) | | (8,363) | | Effect of foreign currency exchange differences | 40 | | (2,758) | | 2,696 | | (3,108) | | (1,885) | | (5,015) | | Balance at June 30, 2026 | 9,622 | | 779,626 | | 16,001 | | 103,895 | | 92,209 | | 1,001,353 | | | | | | | | | Balance at January 1, 2025 | 10,866 | | 476,162 | | 166,196 | | 108,725 | | 83,075 | | 845,024 | | Additions1 | 213 | | 1,519 | | 48,535 | | 6,665 | | 4,357 | | 61,289 | | Divestments and disposals | (2,167) | | (1,013) | | (47) | | — | | — | | (3,227) | | Reclassifications | 200 | | 1,305 | | (1,505) | | — | | — | | — | | Cancellations | — | | — | | — | | (10,905) | | (1,845) | | (12,750) | | Remeasurement | — | | — | | — | | — | | (1,095) | | (1,095) | | Effect of foreign currency exchange differences | 720 | | 15,125 | | 15,480 | | 12,410 | | 6,824 | | 50,559 | | Balance at June 30, 2025 | 9,832 | | 493,098 | | 228,659 | | 116,895 | | 91,316 | | 939,800 | | | | | | | | | Depreciation and impairment | | | | | | | Balance as of January 1, 2026 | (5,065) | | (412,337) | | (108,573) | | (58,733) | | (89,181) | | (673,889) | | Depreciation expense | (584) | | (1,625) | | — | | (6,817) | | (118) | | (9,144) | | Depreciation capitalized into inventory | — | | (17,973) | | — | | — | | — | | (17,973) | | Divestments and disposals | 2 | | 164 | | — | | — | | — | | 166 | | Depreciation expense employee benefits | — | | — | | — | | — | | (2,086) | | (2,086) | | Cancellations | — | | — | | — | | 5,466 | | 1,130 | | 6,596 | | Impairment loss | — | | (106,456) | | 106,456 | | 308 | | — | | 308 | | Effect of foreign currency exchange differences | (21) | | (2,696) | | (1,118) | | 1,827 | | 1,635 | | (373) | | Balance at June 30, 2026 | (5,668) | | (540,923) | | (3,235) | | (57,949) | | (88,620) | | (696,395) | | | | | | | | | Balance at January 1, 2025 | (4,154) | | (142,883) | | (72,700) | | (38,169) | | (49,375) | | (307,281) | | Depreciation expense | (1,185) | | (2,516) | | — | | (10,449) | | (532) | | (14,682) | | Depreciation capitalized into inventory | — | | (7,356) | | — | | — | | (1,698) | | (9,054) | | Divestments and disposals | 741 | | 805 | | — | | — | | — | | 1,546 | | Depreciation expense employee benefits | — | | — | | — | | — | | (1,823) | | (1,823) | | Cancellations | — | | — | | — | | 7,427 | | 1,692 | | 9,119 | | Impairment loss | — | | (215,715) | | (874) | | — | | (28,891) | | (245,480) | | Effect of foreign currency exchange differences | (176) | | (4,826) | | (1,460) | | (4,462) | | (1,156) | | (12,080) | | Balance at June 30, 2025 | (4,774) | | (372,491) | | (75,034) | | (45,653) | | (81,783) | | (579,735) | | | | | | | | | | | | | | | | Carrying amount at June 30, 2026 | 3,954 | | 238,703 | | 12,766 | | 45,946 | | 3,589 | | 304,958 | | Carrying amount at December 31, 2025 | 4,384 | | 194,862 | | 36,423 | | 53,462 | | 3,862 | | 292,993 | |
1 - Of $55,745 in additions for the six months ended June 30, 2026, $26,844 was settled in cash. In the Unaudited Condensed Consolidated Statement of Cash Flows the amount of $26,844 is included as investing activities in the $66,358 to additions to property, plant and equipment, and the remaining $39,514 relates to additions to trade payables from prior years which were settled in cash during the six months ended June 30, 2026. Of $61,289 in additions for the six months ended June 30, 2025, $38,296 was settled in cash. In the Unaudited Condensed Consolidated Statement of Cash Flows $38,296 is included as investing activities in the $88,032 of additions to property, plant and equipment, and the remaining $49,736 relates to additions to trade payables from prior years which were settled in cash during the six months ended June 30, 2025. The significant additions in the six months ended June 30, 2026 were related to additions to machinery and equipment, mainly due to acquisitions of vendor tooling for Polestar 5.
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