arrival

The advanced manufacturing assets include equipment supporting cabin production processes such as robots, dispensing systems, advance control equipment, PLC controllers and equipment supporting general assembly capacity expansion such as advanced safety equipment, manipulators, high-tech dynamic veh...

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.

According to Sky News, the Nasdaq-listed company "is in talks with EY, a professional services firm, about acting as administrator if the company cannot secure rescue funding". Although there's a possibility that Arrival finds the money to survive, it is still unclear how long Arrival's remaining ca...

The UK-based company has been quite in trouble for some months and was forced to deeply change its own business. Arrival won't be building neither electric cars nor electric buses anymore and had announced the intention to focus only on the North American market.

According to Reuters, the capital raised "will not provide for investments in production of its van in its Charlotte, North Carolina facility". Fundraising efforts to support the U.S. production plan might be promoted afterwards.

Arrival has previously announced its plan to refocus its resources on the development of its US Van product, which the company currently expects to start production in Charlotte in 2024, subject to raising additional capital. The company had to make the harsh decision to the difficult decision to re...