Arrival, another EV company

[kadee79]

We might all want to keep an eye on this one to see how it does....who knows?

London-based Arrival is the latest electric vehicle start-up set to enter the public markets as the landscape of EV companies grows. Arrival announced a reverse merger with special purpose acquisition company, CIIG Merger Corp, at a valuation of about $5.4 billion.

The five-year-old start-up differentiates itself from other EV manufactures by focusing on electric vans and buses, with plans to open micro-factories in the U.S. and U.K in 2021.

“Everything makes us different. So we have very much different products. We have very different process of assembly. We use different materials to assemble our vehicles. We use different components. Our economics is unique,” said founder and CEO Denis Sverdlov on the day the SPAC agreement was announced.

“We’ve taken basically a centralized process of manufacturing and we’ve decentralized that to be able to place these micro-factories rapidly anywhere, and we can place them near areas of demand,” said the president of Arrival, Avinash Rugoobur.

“The technology is mature and now we’re looking to go to market with our bus, with an electric bus that actually can be priced at diesel prices and below,” he added.

finance.yahoo.com/news/arrival-the-latest-ev-company-set-to-enter-the-public-markets-154151801.html

[thyme4change]

Weird to think that by the time my kids are my age, the top car brands could be a totally different list. That is what happens when you give (at best) a lip-service level of resources to new technologies. I know they are all holding hands with gas companies, but their bid to slow down EV's opened the door for other companies to pass them up.