business news

Arrival prepares for US debut, picks North Carolina as headquarters

Date: February 08, 2022 Sunil Jha Sunil Jha
Arrival prepares for US debut, picks North Carolina as headquarters 
British EV startup, Arrival Ltd., which specializes in lightweight commercial vehicles, has reportedly chosen Charlotte, North Carolina for its U.S. headquarters ahead of its debut in North America.



The company’s new offices will be inaugurated next month, with its production facilities for vans in Charlotte and buses in South Carolina, set to be opened later this year.



Arrival’s unconventional decision for establishing its operations, away from the more obvious choices, such as Detroit, is a part of its strategy to operate a network of microfactories to manufacture vehicles with a lower initial investment.



The startup aims to manufacture vehicles in a decentralized setup with the help of existing factory spaces and unused warehouses.



Mike Ableson, Head of Automotive Division, Arrival, believes that as the market is becoming saturated with luxury EVs, and that buses and vans will be able to offer better commercial opportunities.



Ableson added that while there have been many announcements about upcoming EVs, with many people worrying about whether there will be enough demand for them, the case is the opposite on the commercial side.



Ableson recalled that when he had joined the firm, around two and a half years ago, nobody was paying heed to electric last-mile delivery vans, which now are seemingly high in demand.



Arrival plans on attracting around 1,000 new hires for its initial production goal of 5,000 vans and 500 buses per year, and gradually scale up production to 10,000 vans and 1,000 buses from there on out.



Arrival, established in London in 2015 by Russian billionaire Denis Sverdlov, recently became a NASDAQ listed firm through a reverse merger with a SPAC (special purpose acquisition company) last year in March.



In recent months, however, the has company hit a few roadblocks, with its shares falling 49% this year, closing at $3.98 last week, and its valuation stationed at approximately $2.5 billion.



Source credit: https://www.cityam.com/british-electric-van-maker-arrival-prepares-for-us-debut/

About the author

View All Posts

Sunil Jha

Sunil Jha has been a part of the content industry for close to two years. Having previously worked as a voice over artist and sportswriter, he now focuses on writing articles for newsorigins.com, across a slew of topics, ranging from technology to trade and finance. With a business-oriented educational background, Sunil brings forth the expertise of deep-dive research and a strategic approach in his write ups.