Arrival

Arrival is a UK-based company that manufactures electric passenger vehicles and commercial vehicles. This includes the “Arrival Car,” which the company intended for ride-hailing and car-sharing services; the “Arrival XL Van,” an urban utility vehicle; and the “Arrival Bus,” which can be tailored to community requirements. 

Furthermore, the company’s vehicles have embedded telematics for data collection from an array of sensors. This enables vehicle owners to track real-time and historic location, speed, and other data. The vehicles can also be analyzed for health faults and incidents.

Arrival intended to manufacture these EVs through a decentralized microfactory network that uses cell-based robotic assembly. These microfactories will be located in areas of demand using existing commercial spaces or warehouses. They will be operational within six months of readying a site. The vehicles will be manufactured from proprietary composite materials, which are low-cost, 50% lighter than steel, durable, and resistant to damage.

Arrival began testing its buses at a facility in December 2021. Furthermore, in September 2022, the company reported that it produced the first production verification vehicle at its Bicester Microfactory.

Funding and financials

Arrival’s latest funding was in September 2023 , when the company secured bridge financing of up to USD 50 million from Antara Capital and Highbridge Capital Management. The funds were to be used as working capital or to explore a potential sale. Prior to this in March 2023, the company established a USD 300 million equity financing line with Westwood Capital. In April 2023, the company was listed on the Nasdaq through a SPAC merger. The combined company was valued at USD 524 million. However, in February 2024 , Arrival reported its delisting from Nasdaq due to its inability to produce its annual statements for 2022. During the same month, the company also reported that it filed for bankruptcy.