Polestar Automotive (NASDAQ: PSNY) has announced its fourth quarter and full year sales figures for 2022. The Swedish electric performance car brand delivered approximately 21,000 vehicles in the fourth quarter, bringing the preliminary estimate for full year global volumes to 51,500 cars - a year-on-year increase of 80%.

Polestar is anticipating global volumes to increase by nearly 60% to approximately 80,000 cars. This growth is expected to be driven by strong sales of the Polestar 2, and later in the year, the company will begin delivering its new Polestar 3 model.

These figures demonstrate the increasing demand for electric vehicles, and Polestar's position as a leader in the market. 

Polestar plans to launch one new electric vehicle per year, with the launch of Polestar 4, a smaller electric performance SUV coupe, is expected in 2023.

Polestar CEO, Thomas Ingenlath stated: "I’m proud of the many milestones we achieved in 2022 and in particular the massive team effort that went into delivering our strongest quarter to date – surpassing our 50,000 global volumes target for the year. We are now fully focused on 2023. "

Founded in 2017, Polestar Automotive is a Swedish premium electric vehicle manufacturer. Polestar is headquartered in Gothenburg, Sweden, and its vehicles are currently available and on the road in markets across Europe, North America, China and Asia Pacific.

Shares of Polestar Automotive trade on the NASDAQ under the ticker symbol PSNY.