Polestar Automotive Holding‘s (NASDAQ:PSNY) shares are trading lower on Monday despite the company reporting a first-quarter revenue jump of 84.2% year over year (Y/Y) to $608 million.
Revenue grew on higher volumes and a positive shift in the product mix.
Retail sales rose by 76.4% year over year to 12,304 cars in the quarter, led by the increased uptake of newer models.
Also Read: Polestar Secures New $450M Financing Deal To Boost Growth
Gross margin expanded 14.5 ppts Y/Y …