Future Of British Business
EV Startup Arrival in Talks on Funds to Unlock US Market
- Company’s first production verification van is completed
- Several ways to raise capital in US, Arrival says; shares gain
This article is for subscribers only.
Electric-vehicle startup Arrival SA surged after it said it’s in talks to raise capital to build and sell its products in the US.
The company, which is primarily UK-based, also said it’s a step closer to operating so-called microfactories to produce battery-powered vans. The shares pared an early gain of as much as 17% on Friday to trade up 7.9% to 85 cents as of 9:42 a.m. in New York.