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BlackRock-Backed EV Startup to Make Nasdaq Debut in Crowded Race

  • Arrival is set to begin trading on Thursday under ticker ARVL
  • EV peers Nikola, Lordstown and Fisker are below their highs
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The electric-vehicle arena will get even more crowded on Thursday after Arrival Ltd. debuts on the Nasdaq.

The London-based maker of vans and buses, which has BlackRock Inc. among its biggest investors, is combining with blank-check firm CIIG Merger Corp. and will trade under the ticker ARVL. Merging with special-purpose acquisition companies has become the favorite route to public markets for electric-car developers including Nikola Corp., Lordstown Motors Corp. and Fisker Inc.