After becoming a publicly traded company last month, shares of Arrival have been plunging. Is not the time to buy this electric truck and bus manufacturer?.Arrival (ARVL), is a London-based global electric truck and bus manufacturer that focuses exclusively on commercial markets. After completing the announced special purpose acquisition company (SPAC) combination with CIIG Merger Corp.(CIICU), ARVL went public on the Nasdaq Global Select Market, in March.
The deal fetched nearly $660 million in gross proceeds and provides ARVL with enough resources to start ramping up the electric bus & van deliveries and expanding the global network of Microfactories. The company announced that it is planning to build a new Microfactory in Charlotte, North Carolina, the second on U.S. soil.
ARVL, a different player in the electric vehicle (EV) space