Arrival, a U.K. electric vehicle company, is going public via CIIG Merger Corp. The deal values the company at $5.4 billion, according to CNBC.
posted on
Nov 19, 2020 02:00AM
"Arrival is planning on building three or four microfactories, which are smaller auto production lines that can be packed into existing warehouse real estate. The factories that are 20,000 square feet cost around $45 million to make. Each microfactory will have a goal of producing 10,000 electric vans a year.
Arrival said it stands out from rivals as it focuses on the commercial market instead of selling to consumers. The company covers production to development with full vertical integration."
https://finance.yahoo.com/news/arrival-ev-bus-maker-rivals-183140520.html