This EV startup, once valued at $13b, is on the verge of total collapse
Once an EV darling thought to revolutionize EV production with its concept of micro-factories that crank out delivery vans for the likes of Uber and UPS, UK startup Arrival is in a desperate search for funding after being delisted from Nasdaq this week.
Nasdaq suspended trading of Arrival shares this week, followed by a formal delisting, Reuters reports. The action is the result of Arrival being late in posting financial results and failing to file a remediation plan and hold an annual shareholder…