Arrival to be Delisted from Nasdaq Amid Financial Struggles

The once $13 billion EV maker is in talks with EY for administration as it fails to deliver on its promises.

Arrival, a UK-based electric vehicle (EV) maker, has received a delisting notice from Nasdaq, with trading of its securities to be suspended from January 30.
Arrival's financial struggles have been ongoing, with the company ending the first half of 2023 with approximately $43 million in cash and cash equivalents, and a loss of $155.7 million.
The company, once valued at $13 billion, now has a market cap of approximately $13.6 million, with its stock dropping nearly 97.5% over the past year.
Arrival is reportedly in talks with accounting firm EY to act as administrator should the company fail to secure necessary rescue funds.
Arrival has yet to deliver a fully working production-level vehicle to any of its prospective customers, such as UPS or Uber.