Arrival slashes production targets to just 20 EV vans as part of restructuring

Arrival slashes production targets to just 20 EV vans as part of restructuring

2 years ago
Anonymous $Dcz6_RW03I

https://techcrunch.com/2022/08/11/arrival-slashes-production-targets-to-just-20-ev-vans-as-part-of-restructuring/

Arrival, the U.K.-based commercial EV startup turned publicly traded company, has lowered its delivery plans from 400 vehicles to 20 as it postpones development of its battery-electric buses and shifts gears to focus on vans.

The company, which reported Thursday widening losses for the second quarter, said it no longer expects to generate revenue in 2022.