Form 424B3 Polestar Automotive Hold

Filed under Rule 424(b)(3)
Registration number 333-266101

PROSPECTUS SUPPLEMENT NO. 1

(to the prospectus of September 22, 2022)

Polestar Automotive Holding UK PLC

UP TO 2,203,977,609 CLASS A DISPLAYS,

UP TO 24,999,965 CLASS A ADVERTISEMENTS CAN BE PRINTED ON

CONVERSION OF INDICATORS CLASS C AND

UP TO 9,000,000 CLASS C-2 ADS

This prospectus supplement is being filed to update and supplement the information contained in the prospectus dated 22 September 2022 (the “Prospectus”) which forms part of a registration statement dated Form F-1 (registration no. 333-266101), related to the offering and sale of up to (a) 2,228,977,574 Class A ADSs and (b) from time to time by the selling Securityholders named in the Prospectus 9,000,000 Class C-2 ADS. Specifically, this prospectus supplement is being submitted to update the information contained in the prospectus and to supplement the information contained in our report Form 6-K submitted to the US Securities and Exchange Commission (the “SEC”) on October 7, 2022.

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Capitalized terms used but not defined herein have the meaning ascribed to them in the Prospectus.

This Supplement to the Prospectus is not complete without the Prospectus, including all supplements and amendments, and may only be used in connection with it.

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We may further change or amend the Prospectus and this Supplement from time to time by submitting changes or amendments as necessary. You should read the entire Prospectus, this Supplement and any amendments or supplements carefully before making your investment decision.

Our Class A ADS and Class C-1 ADD are listed on the Nasdaq Stock Market LLC (“Nasdaq”) under the trading symbols “PSNY” and “PSNYW”, respectively. On October 6, 2022, the closing price for our Class A ADSs on the Nasdaq was $5.63. October 6, 2022 was the closing price for our Class C-1 ADSs on Nasdaq were $1.07.

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Investing in our securities involves a high level of risk. You should carefully consider the risks and uncertainties set out under the heading “Risk Factors” starting on page 14 of the Prospectus before investing in the Securities.

Neither the SEC nor any state or foreign securities commissions have approved or disapproved these securities or determined whether this prospectus supplement or the prospectus is accurate or complete. Any representation to the contrary is punishable.

This prospectus supplement is dated 7 October 2022

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