As reported by Sky News, attempts to secure long-term financing through a sale or capital injection will likely fail. According to sources from the municipal sector, there is still hope, but Arrival is already in discussions with auditing firm EY about insolvency administration.
One of the reasons is that Arrival failed to comply with the US stock exchange’s transparency regulations. The stock exchange supervisory authority thus reprimanded the manufacturer at the beginning of January. Arrival went public in March 2021 through a merger with the stock exchange shell CIIG Merger Corp.
In March 2023, the British developer for electric commercial vehicles (including for ride-hailing services) seemed to be out of the woods. At that time, it…
