Electric van maker's UK arm enters administration.

UK electric vehicle (EV) manufacturer Arrival is facing administration, also known as bankruptcy, after struggling to continue its operations and failing to launch its debut electric van. This move comes a week after Arrival's shares were removed from the Nasdaq stock exchange due to non-compliance with listing standards. The company is now aiming to sell its UK assets and intellectual property in order to repay its lenders. Arrival says other subsidiaries outside the U.K. will continue to operate, but the company didn't explain what that means. More than 170 jobs are at risk in the U.K. alone.

February 05, 2024
9 Articles

Further Reading