Electric van maker falls into administration

Arrival, the electric commercial vehicle manufacturer, has entered administration. Despite early hopes, the firm failed to launch its debut electric van.

A statement issued on behalf of Arrival Group said:

The group’s liquidity position has been impacted by challenging market and macro-economic conditions, resulting in delays in getting the group’s products to market. As such, the Joint Administrators are now exploring options for the sale of the business and assets of the companies, including its electric vehicle platforms, software, intellectual property and R&D assets, for the benefit of creditors.

Arrival was in the process of developing purpose-built commercial vehicles using flexible and sustainable manufacturing methods. Its platforms include last-mile delivery vans, intra-city buses and ride-sharing passenger cars and are backed by proprietary software applications, intellectual property and patents. More than $1.5bn has been invested.

The group is headquartered in Banbury, Oxon, and operates from nine sites across the UK. Currently, Arrival employs around 400 people.