The $8bn EV company you’ve probably never heard of
Electric vehicle firm Arrival is worth $8bn (£5.7bn) – and is only making vans, buses and taxis. …
Arrival is probably the most valuable electric vehicle company you’ve never heard of. Based in the UK and listed on the US Nasdaq stockmarket, it is worth $8bn (£5.7bn). But it isn’t making cars, it is focusing on commercial vehicles – vans, buses and taxis.
Instead of setting up huge factories to build as many vehicles as quickly as possible and ship them around the world, Arrival plans to set up small, so-called micro-factories to build products close to where they’ll be sold.
Reporting by Theo Leggett and video editing by Peter Page
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