(Reuters) – Polestar on Thursday reported rises in fourth-quarter retail sales and order intake, raising optimism amongst jittery investors over demand for the Swedish EV maker’s higher-priced models.

The corporate reported retail sales of 12,256, up from 11,640, and a 37% rise so as intake in comparison with a yr earlier.

Polestar also announced a change in the way it reports, saying it could report retail sales based on cars delivered to final customers, not as of after they are invoiced, to raised align itself with sector standards.

The improved results come despite worsening market conditions which have hit EV startups corresponding to Polestar particularly hard.

The sector has been grappling with a slowdown in demand for electric cars, pressure to chop prices amid a price battle ignited by Tesla (TSLA.O), and tariffs imposed by the EU and U.S. on China-produced cars.

Polestar has also faced operational headaches, encountering problems and delays to its quarterly financial reports and struggles to administer its costs.

It has been attempting to show across the business over the past yr including a reshuffle where it replaced its CEO, head of design, chair of the board and appointed a latest CFO.

Recent CEO Michael Lohscheller launched a strategic review shortly after taking up in October and is scheduled to present a business and strategy update on January 16.

Polestar will even present its third-quarter results at the moment.

“The changes being made to our business operations are clearly having a positive impact,” Lohscheller said on Thursday in reference to its order intake improvements.

Polestar, which markets itself as a luxury electric automaker, goals to attain break-even money flow by the top of this yr.

(Reporting by Marie Mannes; editing by Jason Neely)