Arrival, a UK-based company that manufactures electric commercial vehicles, is going into administration, commonly known as bankruptcy protection in the US. This announcement came a week after Nasdaq, a US-based stock exchange, informed the company that its shares would no longer be listed.

The delisting occurred following Arrival’s failure to meet Nasdaq's listing standards due to its inability to produce its annual statements for 2022. The company was also dealing with high costs and underwent several restructuring efforts, which included laying off half its employee base. Despite efforts to focus more on revenues from the US, the company's net losses in 2021 and 2022 amounted to USD 1 billion.

Although Arrival secured investment, including a USD 50 million loan in 2023, which was meant to keep the business running, cash flow problems persisted, with a nearly 40% drop in cash and cash equivalents reported in just three months. Additionally, the company's shares dipped by 99% since its public listing, reducing its market valuation to USD 2.76 million from USD 13 billion a year before its bankruptcy.