Arrival on the verge of bankruptcy. Administrators appointed for its subsidiaries

The administrators are now exploring options for the sale of the business and assets of the Companies, including the electric vehicle platform, software, intellectual property and R&D assets, for the benefit of creditors.

By segreteria

Following several news reports coming from England (here one of our latest posts), Arrival seems to be really close to the end of its business. In the last few days, the company announced the appointment of Simon Edel, Alan Hudson and Sam Woodward of EY-Parthenon’s Turnaround and Restructuring Strategy team as joint administrators of Arrival UK Ltd and Arrival Automotive UK Limited, both subsidiaries of Arrival.

The administrators are now exploring options for the sale of the business and assets of the Companies, including the electric vehicle platform, software, intellectual property and R&D assets, for the benefit of creditors.

Highlights

Volvo VNL, the largest order to date in Canada involves 125 trucks

Volvo Trucks has delivered 125 VNL trucks to Highlight Motor Group in Canada. This marks the largest order in Canada to date for Volvo’s new flagship model in North America. More into details, the Volvo VNL 860s will add to Highlight Motor Group’s existing fleet, which is active in long-distance ope...
News

DHL tests SuperPanther electric trucks in Austria

DHL Freight has proposed a suitable route: from Wels, located in the Upper Austrian Alpine foreland, to the Austrian capital of Vienna and back. The total distance is around 400 kilometers. The eTopas 600 will carry a 15-ton cargo load. Both companies are now following up on their declaration of int...

Related articles

Hyundai launches the new Staria electric van as a people mover

The two possible configuration of the electric Staria are the 7-seater, for private, family and leisure use, or the 9-seater for larger families, group travel or shuttle operation. As already mentioned, the new Hyundai STARIA Electric is equipped with an 84-kWh battery and a 160-kW electric motor dr...