Terms & Conditions – Reservation of Polestar 6 LA Concept edition

1. BACKGROUND

1.1    

Polestar Performance AB, company no. 556653-3096 (“Polestar”) has designed a concept car, the Polestar O2/electric roadster. Polestar is now considering to produce a limited edition car, the Polestar 6 LA Concept edition, which will be based on the Polestar O2/electric roadster (the “Car”). 

1.2    

These terms and conditions shall apply between Polestar and any natural or legal person (the ”Customer”) in relation to the Customer’s reservation of a build slot of the Car on Polestar’s website (polestar.com) (the “Agreement”). In connection with the reservation, the Customer will have to pay a fully refundable reservation fee (the “Reservation Fee”) to Polestar in the amount of USD 25 000 within ten (10) business days of having received the payment instructions from Polestar. 

2. RESERVATION AND FUTURE PURCHASE AGREEMENT

2.1    

The Agreement is concluded when the reservation has been made by the Customer and is subject to the following prerequisites:

(a) The Customer, if it is a natural person, is at least 18 years of age and has legal competence.(b) The Customer has read, understood, and accepted these terms and conditions.(c) The Customer has paid the Reservation Fee to Polestar within the time period stated in this Agreement.(d) The Customer is not or is not acting on behalf of a person, designated on any sanctions list imposed by the UN, EU or US. 

2.2    

The completion of the Agreement will give the Customer a reservation of a build slot for the Car. Polestar will keep the Customer updated on the development of the Car and contact the Customer when a Car purchase agreement is ready to be entered into. The reservation does not constitute a purchase agreement, nor does it oblige the Customer or Polestar to enter into a purchase agreement.

2.3    

The Customer understands that the Car is currently not being produced or sold. Estimated time for start of production and/or delivery can be subject to adjustments and Polestar does not guarantee any time as to when a Car purchase agreement can be entered into or when and if the Car may be produced or delivered. Similarly, any estimated purchase price provided for the Car can be subject to adjustments and Polestar is not bound by any such estimate. If the Customer and Polestar enter into a Car purchase agreement, the purchase price and the further terms and conditions regarding the purchase will be set forth in the purchase agreement. 

2.4    

If the Customer and Polestar (or any of its affiliates) agree on a Car purchase agreement, the Reservation Fee will be refunded to the Customer. The Reservation Fee will be refunded within thirty (30) days after a purchase agreement is executed.

3. CANCELLATION

3.1    

This Agreement and the reservation may be cancelled at any time and for any reason by Polestar or by the Customer. If the Agreement and the reservation is cancelled, the Customer is entitled to a full refund of the Reservation Fee.

3.2    

The Customer is aware and acknowledge that the funds of the Reservation Fee will not be held separated from other financial means or in an escrow or alike and Customer confirms that it understands the implications thereof. 

3.3    

The Customer is not entitled to interest on the funds of the Reservation Fee.

3.4    

A cancellation is made by contacting Polestar at: editions@polestar.com. Within a few business days following the cancellation notice, the Customer will receive instructions to provide the Customer’s bank account details for the refund of the Reservation Fee. The refund shall be made by Polestar within thirty (30) days from the day Polestar received the Customer’s bank account details. The refund will be paid to the Customer who paid the Reservation Fee and to the same bank account that was used when making the payment unless Polestar has been notified by the Customer that the bank account has changed and has been provided with new bank account in the Customer’s name.

4. REMEDY AND LIMITATION OF LIABILITY

4.1    

The Customer’s only remedy under this Agreement is repayment of the Reservation Fee.

4.2    

Polestar shall under no circumstances be held liable for any direct or indirect damage, including but not limited to loss of profit, loss of use, or loss of goodwill arising out of or in connection to the reservation or Reservation Fee.

5. PRIVACY POLICY

Polestar’s privacy policy is incorporated in these terms and conditions. The privacy policy can be found at https://polestar.com/nl/legal/privacy/.

6. MISCELLANEOUS

6.1    

This Agreement constitutes the entire agreement between the Parties regarding all of the issues set forth in the Agreement, including the reservation, and supersedes any and all prior written or verbal undertakings and agreements.

6.2    

The Customer may not, without the prior written consent of Polestar, assign any of its rights and obligations under the reservation to a third party.

6.3    

No waiver of any of the provisions of the Agreement shall be binding upon Polestar unless in writing and signed by duly authorized representatives.

7. DISPUTES AND GOVERNING LAW

7.1    

This Agreement shall be governed by Swedish law, without regard to its conflict of law provisions.

7.2    

Any dispute, controversy or claim arising out of or in connection with the Agreement, or the breach, termination, or invalidity thereof, shall be finally settled by the public courts of Sweden. If the Customer is a natural person, the Customer may also have the right to settle a dispute in his/her country of residence according to applicable and mandatory law.