Who owns Polestar? The ownership chain, Li Shufu's stake and the 2017 deal
Facts checked Chinese holding 66%
Polestar is Chinese-owned. As of June 2025 Li Shufu's PSD Investment held 44%, Geely Holding 22%, Volvo Cars 16% and the public 18%; Volvo Cars distributed 62.7% of its former holding to its own shareholders in 2024, which moved control squarely to Geely entities. The company is headquartered in Gothenburg and listed on Nasdaq as PSNY since 24 June 2022; its cars are built in China, the United States and South Korea.
Polestar's 2025 annual report attributes 79,981,976 shares, about 55.2%, to Li Shufu as beneficial owner. The total combines PSD Investment Limited, Snita Holding (Volvo Cars), Geely Sweden Automotive Investment B.V., Northpole GLY 1 LP and GLY New Mobility 1. LP, because voting and disposal decisions over all of them are ultimately his. Figures are as at 31 December 2025.
The chain, step by step
Li Shufu owns Polestar at 55.2% since 2017.
Polestar's 2025 annual report attributes 79,981,976 shares, about 55.2%, to Li Shufu as beneficial owner. The total combines PSD Investment Limited, Snita Holding (Volvo Cars), Geely Sweden Automotive Investment B.V., Northpole GLY 1 LP and GLY New Mobility 1. LP, because voting and disposal decisions over all of them are ultimately his. Figures are as at 31 December 2025.
| Holder | Holds | Kind | Stake | Since |
|---|---|---|---|---|
| Li Shufu | Polestar | owns | 55.2% | 2017 |
Other recorded holdings in Polestar
Holdings that are not control, kept out of the chain above so that nothing on this page reads as ownership when it is not. A joint venture is a company two parents built together: its percentage is a share of the venture, not a holding in the partner. The same pair can appear twice with different kinds, and both rows are real.
| Holder | What it is | Share | Since | What the source says |
|---|---|---|---|---|
| PSD Investment Limited | holds a stake in | 23.4% | 2017 | PSD Investment Limited, controlled by Li Shufu personally, held 32,953,241 Class A ADSs and 996,419 Class B ADSs at 31 December 2025, about 23.4% of the shares outstanding. |
| Geely Holding | holds a stake in | 11.6% | 2017 | Geely Sweden Automotive Investment B.V., an affiliate of Geely Holding, held 16,738,542 Class A ADSs at 31 December 2025, about 11.6%. On 30 June 2026 about US$300 million of loan principal and interest owed to Geely Sweden Automotive Investment converted into a further 15,511,892 Class A ADSs, so the figure has since risen. |
| Volvo Cars | holds a stake in | 19.9% | 2017 | Volvo Cars holds its Polestar shares through Snita Holding B.V.: 28,827,431 Class A ADSs, about 19.9%, at 31 December 2025. Volvo Cars had held about 48% until it distributed 62.7% of its Polestar shareholding to its own shareholders in 2024. On 30 June 2026 about US$66 million owed to Snita converted into a further 3,864,300 Class A ADSs. |
Polestar: questions people ask
- Who owns Polestar?
- It has no single owner, but the ownership is Geely's. At the end of 2025 Li Shufu's PSD Investment held about 23.4%, Volvo Cars about 19.9% and a Geely company about 11.6%; Polestar's annual report attributes about 55.2% to Li Shufu as beneficial owner.
- Is Polestar Chinese or Swedish?
- Both, depending on what you measure. Polestar is registered in the UK, run from Gothenburg in Sweden and Swedish in engineering and design, while its ownership is Chinese through Geely and its cars are built in China, the United States and South Korea.
- Can you still buy a Polestar in the United States?
- Only from existing stock. Polestar said on 25 June 2026 that the US Department of Commerce had not authorised it under the connected vehicle rule for model year 2027 onwards, so it is selling remaining Polestar 3 and Polestar 4 cars and continuing to service cars already sold.
- Does Volvo own Polestar?
- Volvo Cars owns a fifth of it, about 19.9% at the end of 2025, held through Snita Holding B.V. It once held about 48% but distributed 62.7% of its Polestar shares to its own shareholders in 2024.
Related
Sources for Polestar
- Polestar (U.S. Securities and Exchange Commission), Polestar Automotive Holding UK PLC, Form 20-F for the year ended 31 December 2025. Read .
- Polestar (U.S. Securities and Exchange Commission), Polestar press release of 25 June 2026 on the US connected vehicle rule (Exhibit 99.1 to Form 6-K). Read .
- Polestar (U.S. Securities and Exchange Commission), Polestar Form 6-K, 1 July 2026: conversion of the Geely and Snita term facilities. Read .
- Polestar, Polestar market sitemap. Read . The 28 national sites Polestar publishes, matching the market count in the 20-F.
- Wikipedia, Polestar. Read . June 2025 ownership split, Nasdaq listing date, and the plants for Polestar 2, 3 and 4.
- Volvo Car AB, Volvo Cars to propose a distribution of 62.7 percent of its shareholding in Polestar. Read . The 2024 distribution; the release refused an automated fetch and was read through the search index.
- Polestar (U.S. Securities and Exchange Commission), Polestar Automotive Holding UK PLC, Form 20-F for the year ended 31 December 2025, Item 7.A Major Shareholders. Read .