Polestar promises to release late earnings reports in June

Polestar Automotive Holding UK-rte-company>’s American depositary receipts rose after the unprofitable electric vehicle maker said it would release delayed financial reports by the end of next month.

As of 9:35 a.m. in New York, ADR rates were up 10.1% to 83 cents. They are still down about 63% this year. In April, the manufacturer postponed its reports to the entire year of 2023 and the first quarter of this year, citing accounting errors.

“We have maintained open communication with our lending banks and assured their understanding and continued support,” CEO Thomas Ingenlath said in a statement on Friday.

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