Electric cars such as battery electric vehicles & plug-in hybrid electric vehicles are slowly penetrating the EU market. Over the last few years, the registration of electric cars in the EU has been steadily increasing. Electrifying the commercial vehicle is not only a prudent economic decision but also demonstrates the company’s green credentials.
Reinventing automotive industry
Based out of London, Arrival is a developer and manufacturer of zero-emission, public transportation vehicles. Recently, the UK company has raised $118M (approx €100M) from BlackRock. With this funding, BlackRock joins other investors including Hyundai Motor Company, Kia Motors Corporation, and UPS.
The company intends to use the funding to accelerate its Microfactory footprint in both the US and Europe. Notably, the company also announced the launch of its first US Microfactory in York County, South Carolina, a few days back along with an investment of $46M (approx €39M).
In South Carolina, the company will utilise a new cell-based assembly method to produce vehicles rather than a traditional production line. This approach reduces the costs of production and emissions of shipping and does not require a massive upfront investment, hence the name “Microfactory.” Arrival’s Microfactories produce 10,000 vans or 1,000 buses per year.
Aims to create zero-emission mobility solutions
Founded in 2015 and based in London, England, Arrival works with cities around the world to create zero-emission mobility solutions, The company has received an order of 10,000 electric vans from logistics company UPS, with the option for a further 10,000.
Production in Q4, 2021
The company aims to reach 8 million commercial and passenger fleets by 2030 in the US alone. Arrival will begin fitting out the unit and is expected to begin operations in Q2 2021, with the start of production in Q4 2021. The company has over 1,200 global employees located in offices across the USA, Germany, Netherlands, Israel, Russia, and Luxembourg.
The company claims to be one of the UK’s largest unicorns. Earlier this year, the company revealed its zero-emission bus. According to Arrival, it partners with governments and cities to create an Integrated Public Transport ecosystem that supports their net-zero emission goals. Arrival’s Integrated Public Transportation Ecosystem includes buses, cars for sharing, taxis, delivery robots, charging infrastructure, Microfactories and digital services.
Main image credits: Arrival