First Van Arrival produces first production verification van in Microfactory. See HERE for press kit LONDON, Sept. 30, 2022 (GLOBE NEWSWIRE) -- Arrival (NASDAQ: ARVL) today announced that it has produced the first production verification vehicle from its Bicester Microfactory. Arrival produced the first Van in a Microfactory using in-house technologies, including composite materials, autonomous mobile robots, in-house components and a software defined factory. The milestone is a big stepping sto
Markets are in "risk-off" mode again today with shares of companies in more speculative sectors like electric vehicles (EVs) taking some of the hardest hits. Shares of EV charging network company ChargePoint Holdings (NYSE: CHPT), for example, were down 5.2% as of 12:05 p.m. ET. The stocks of vehicle manufacturers Lordstown Motors (NASDAQ: RIDE) and Arrival (NASDAQ: ARVL) were lower by 7.2% and 6.8%, respectively.
Arrival (NASDAQ: ARVL) provided its second-quarter update Thursday, and it indicated the electric vehicle company is working as hard to stay afloat as it is to get its products into production. Arrival told investors it remains on track to begin production of electric vans at its facility in the U.K. in the current quarter, and said it has about $6 billion in non-binding memorandums of understanding and orders if all are completed. Maybe most impactful for shareholders, the company plans to sell another $300 million in stock that will significantly dilute existing shareholders.