Electric Van Startup
Automotive unicorn takes its first big order
Startup Arrival has taken an order for 20,000 electric vans from UPS, with an option for a further 10,000 vans before it has built its own factory. Arrival, founded by Denis Sverdlov, will design the vans at its West London studios and build them in a new microfactory in Banbury, Oxfordshire.
UPS has chosen Arrival’s vehicles to help them transition to a zero-emission fleet, important for a company delivering in cities requiring clean vehicles.
2 weeks ago, Arrival became Britain’s first automotive unicorn following a deal with Kia and Hyundai who took a E100m 3% stake in the Arrival, valuing it at E3.3b. As part of the deal Arrival will build vans for them under their own badges.
Image by MikesPhotos from Pixabay
