British Electric Van Maker Arrival Enters Administration

The company, once valued at $13bn, faces liquidation after failing to sell any vehicles amid challenging market conditions.

Arrival, a British electric van maker once valued at $13bn, has gone into administration after failing to sell any vehicles.
The company has appointed EY to explore options for the sale of its business and assets, including electric vehicle platforms and intellectual property.
Arrival's collapse is attributed to challenging market and macroeconomic conditions, as well as delays in getting its products to market.
The company had plans to produce electric vans and buses at small, robot-led 'microfactories' and had secured significant investments from entities like BlackRock, BNP Paribas, and Hyundai.
Arrival's failure to launch its products and service its debts has led to its delisting from the Nasdaq and the risk of job losses for its employees.