Arrival Ordinary Shares

ARVL

Market cap $9M

Demand for EVs remains robust based on delivery numbers by some of the leading firms in the sector.  Further, the expectation of rate cuts later this year promises to boost the sagging industry.

Arrival SA (NASDAQ:ARVL), the British electric van manufacturer, revealed its UK operations entered administration on Tuesday. Once valued at £9 billion and favoured by ex-Prime Minister Boris Johnson, the Banbury-based company faced significant challenges in its plan to bring its electric vans, buses, and taxis to the market at a relatively low cost.

Commercial EV startup Arrival's business continues to unravel. Arrival announced Monday in a regulatory filing that its UK division is entering administration, the country's version of bankruptcy.

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.