EV startup Arrival to refocus business on electric vans for the US market

In 2018, fledgling EV maker Arrival partnered with UPS to build a new generation of electric delivery vans, starting with a pilot fleet of 35 vehicles that will operate in both the US and Europe. From there, the company quickly expanded its scope, working on plans for an electrified bus, an EV ride-along vehicle for Uber, and a $11.5 million battery factory. However, on Thursday the company abruptly announced that it had decided to shut down its bus and automobile projects in order to instead “refocus its resources on the US market while continuing to advance its key technologies.”

In a Thursday press release, the company stated that “production is being scaled up at Bicester [UK] Microfactory requires significant further investment in hard tooling and working capital, and the company has determined that the benefits of such an investment would be best directed to the US market.” As such, the company will restructure and focus its efforts on the van and underlying Companies focus on technology that makes it work.

Arrival cites the US EV tax credit as a major influence on its decision, noting that the Inflation Reduction Act “is expected to offer between $7,500 and $40,000 for commercial vehicles, [a] large addressable market size and significantly better margins.” Unfortunately, the company needs (er, her words) to “right size” the UK workforce, as with layoffs.

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https://www.engadget.com/ev-startup-arrival-to-refocus-business-on-electric-vans-for-the-us-market-183335281.html?src=rss EV startup Arrival to refocus business on electric vans for the US market

Russell Falcon

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