Arrival Ordinary Shares

ARVL

Market cap $9M

Commercial EV startup Arrival is being removed from the Nasdaq stock exchange as it speeds toward dissolution. The company, which went pubic after merging with a special purpose acquisition company, announced Monday morning that the Nasdaq will suspend trading of Arrival shares January 30, followed by a formal delisting.

Arrival said it received a delisting and stock trading suspension notice from the Nasdaq, sending the British electric-vehicle company's shares down about 15% on Monday.

British electric vehicle company Arrival is heading closer to insolvency after lining up a new set of advisers to oversee contingency planning, Sky News reported on Monday.

Global electric car sales Nov. 2023 up 31%YoY to 19% share. China sales up 39% to 42% share. Europe down 2% to 26% share. USA up 30.6% to 9.23% share. EV market news - Electric vehicle sales in US to hit record in 2023. U.S proposes Foreign Entity Of Concern ("FEOC") rules. Canada to ban ICE cars/trucks by 2035. EV company news - BYD Co hits target selling 3.01m units in 2023. Tesla expanding Giga Shanghai ready for $25,000 Model 2, confirms over 2m Cybertruck pre-orders, hits 1.8m target.

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Following a brief glimmer of astounding optimism followed by years of frustration, electric vehicle (EV) upstart Arrival (NASDAQ: ARVL ) appears to recognize the writing on the wall. According to a disclosure, management seeks either a sale of the company or other strategic alternatives.