April 16, 2021

Arrival: the Tesla of the bus and the van valued at 13 billion dollars



The fall of Nikola, whose shares plummeted on suspicion of fraud, did not dampen investors’ enthusiasm for electric mobility. Arrival, a British start-up founded by an entrepreneur and former Russian minister, Denis Sverdlov, went public on Thursday in New York via a SPAC (“Special purpose acquisition company”). Its quotation exceeded 13 billion dollars before retreating slightly on Thursday.

The company, which has not yet produced any vehicle, has thus managed to raise $ 660 million to expand. It relies on “micro-factories”, smaller and more agile than those of traditional automobile manufacturers, to manufacture utility vehicles – buses, vans – electric at a lower cost. Arrival also claims to have developed a composite material based on plastic, light and recyclable, which will replace steel in the bodywork of these vehicles.

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