Arrival is betting everything on its electric van and stopping the development of other projects – News – Hybrids and Electrics

british society Arrival It is not in its best economic moment. The value of its shares has fallen dramatically in recent months and just a few weeks ago the company’s decision to face the dismissal of nearly 800 workers, 30% of its total workforce. now him FinancialTimes published that the company will park two of the three projects it has worked with focus entirely on the launch of its electric delivery truck.

On the part of the electric vehicle company, they have not yet given an official response in this regard, however, since FinancialTimes mentioned three people familiar with the company’s own project who said that this significant reduction would be reflected in the economic and personal amount spent on completing the electric van and begin its subsequent serial production, which is expected to take place in the coming months, especially during the fall season.

Among the open projects, in addition to the previous ones electric vanthere was an electric bus, which she even scheduled tests to be done by her clients there has been certified by the European Union; and also an electric car developed jointly with Uber and of which they promised more interior space than a Rolls-Royce. This demonstrates, once again, Arrival’s total commitment to its electric delivery truck and the medium-term economic possibilities this vehicle promises.

Many companies are already focusing on creating this type of vehicle as an alternative to classic diesel vans, since according to various reports these are largely responsible for pollution in large cities, an effect that would be removed with the launch electric models.

Rivian and his ADV for Amazon It will be one of the main competitors of the Arrival vehicle, even more so when the North American company expands this model to other customers beyond the e-commerce giant. However, there are also variations from Stellar, volkswagen, Ford, Canou oh Timethe latter with its smaller model.

According to the source of this information, they state that the paralysis of the rest of the projects was carried out after a decision last July, which was accompanied by the need to reduce its workforce. The arrival should present its financial results in the next few days, where we can observe the vicissitudes that the company has gone through in the first half of this year 2022.

Arrival has lost more than 90% of its stock value since March 2021when announcing its IPO, which they attribute to the current economic downturn, as well as the significant increase in manufacturing costs and volatility in many stock markets.

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