Arrival Produces First Production Verification Van in Microfactory
Arrival (NASDAQ: ARVL) has achieved a significant milestone by producing its first production verification vehicle at its Bicester Microfactory. This vehicle is crafted using innovative in-house technologies, including composite materials and autonomous mobile robots. Although serial production hasn't commenced, this step is crucial for scaling up production and fulfilling customer demands. The produced vans will undergo testing and validation instead of being sold. Further insights will be shared during Arrival's Q3 earnings webinar on November 8, 2022.
- Production of the first verification vehicle marks a key milestone towards at-scale production.
- Utilization of innovative in-house technologies, enhancing production efficiency.
- Serial production has not yet been achieved, indicating potential delays in market entry.
See HERE for press kit
LONDON, Sept. 30, 2022 (GLOBE NEWSWIRE) -- Arrival (NASDAQ: ARVL) today announced that it has produced the first production verification vehicle from its Bicester Microfactory.
Arrival produced the first Van in a Microfactory using in-house technologies, including composite materials, autonomous mobile robots, in-house components and a software defined factory.
The milestone is a big stepping stone towards at-scale production and delivering vehicles to its customers.
“Today is an important day for Arrival. This is the first time a vehicle has ever been built in our Microfactory, using a new method that does not use a traditional assembly line. Although we have not yet achieved serial production, we are focused on making it happen. We will continue to produce vehicles in our Microfactory in order to master at-scale production,” said Denis Sverdlov, Founder and CEO at Arrival. “It has been more difficult than we had initially imagined, and I thank the team for the immense amount of effort, technology, innovative breakthroughs, and problem solving.”
The Arrival Vans produced this year in the company’s first Microfactory in Bicester, UK, will be used for continued testing, validation and quality control, rather than being sold to customers.
Further information will be provided on Arrival’s Q3 earnings webinar taking place on Tuesday, 8th November 2022.
About Arrival
Arrival's mission is to master a radically more efficient New Method to design, produce, sell and service the best ever electric vehicle, because we want a world where cities are free from fossil fuel vehicles. Our in-house technologies enable a unique approach to produce vehicles using rapidly-scalable, local Microfactories. This method facilitates cities and governments in achieving their sustainability goals whilst also supercharging their communities. This vertically integrated business model is how we can have the radical impact our world needs today. Arrival (NASDAQ: ARVL) is a joint stock company governed by Luxembourg law.
Forward Looking Statements
This press release contains certain forward-looking statements within the meaning of the federal securities laws, including statements regarding the products offered by Arrival and the markets in which it operates. Such statements are made pursuant to the safe harbour provisions of the Private Securities Litigation Reform Act of 1995 and are based on management’s belief or interpretation of information currently available. Forward-looking statements are predictions, projections and other statements about future events that are based on current expectations and assumptions and, as a result, are subject to risks and uncertainties. Many factors could cause actual future events to differ materially from the forward-looking statements in this press release.
Media Contacts For Arrival
Media
pr@arrival.com
Investors
ir@arrival.com
A photo accompanying this announcement is available at: https://www.globenewswire.com/NewsRoom/AttachmentNg/cf1b4070-d5e6-449d-88ca-90e61a198d2d
FAQ
What milestone did Arrival achieve on September 30, 2022?
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