Refocusing on the American market was not enough to save the British start-up. Arrival is bankrupt and its electric van will remain at the prototype stage.
Creating a new car manufacturer has never been easy. But Tesla’s success generated a sort of euphoria in the sector at the end of the 2010s. Start-ups multiplied, taking advantage of investor interest in the automobile sector. A few years later, few are starting production, and even fewer are making a profit. The most numerous are those which disappear.
It is therefore the turn of the English company Arrival, which for a time benefited from the support of Hyundai, to cease its activity. The successful start promised a large bus, a van and a car intended for taxi use. Three models designed in close collaboration with potential future customers: British public transport companies for the bus, UPS and Royal Mail for the van, Uber for the car, etc.
Because of this electric model, Volkswagen attacks a German dealership
A few months ago, Arrival carried out an in-depth review of its objectives, maintaining only the van project, and refocusing it on the American market deemed more promising. Unfortunately, despite the $1.4 billion spent since the project was launched, the van will not see the light of day. Placed under administration, the company does not plan a business recovery plan, but simply the sale of its assets, including software, plans and intellectual property.
rewrite this content and keep HTML tags