Arrival reveals its first Electric Car designed to transform the global ride-hailing industry

Rhea-AI Summary

Arrival (NASDAQ: ARVL) has unveiled the first prototype of the Arrival Car, designed in collaboration with Uber drivers, aimed at transforming the ride-hailing industry. This electric vehicle features enhanced comfort and safety, with double the legroom compared to typical cars. The vehicle was developed in just over six months, leveraging Arrival's innovative microfactory production model. The testing phase is set to commence, with plans for further enhancements based on driver feedback. This initiative supports the transition to electric vehicles in urban environments, contributing to cleaner air and sustainability goals.

Positive

• First prototype of the Arrival Car completed on schedule.
• Designed with input from Uber drivers for optimal ride-hailing experience.
• Increased comfort with double the legroom compared to average vehicles.
• Utilizes innovative microfactory production model for efficiency.
• Supports the transition to electric vehicles, aligning with sustainability goals.

Negative

• None.

-  Arrival Car designed in partnership with Uber drivers to create the best possible experience for ride-hailing

-  First prototype finished on schedule and ready for testing in the new year

LONDON, Dec. 16, 2021 (GLOBE NEWSWIRE) -- Arrival (NASDAQ: ARVL), pioneer of a unique new method of design and production of affordable electric vehicles (EVs) by local Microfactories, today revealed the first finished prototype of the Arrival Car.

The Arrival Car has been designed specifically for the ride hailing industry to give the best possible experience for both drivers and passengers and bring clean air to urban environments where most ride-hailing mileage occurs. To achieve this, Arrival has created a vehicle that has exceptional visibility and comfort - with leg room twice as large as that of an average car of the same length. The Arrival Car prioritises cost, uptime, driver comfort, safety, and convenience, given an average ride-hail vehicle will on average drive 45-50,000km a year, versus 12,000km, for a typical vehicle. It also ensures that passengers enjoy a premium experience too.

Arrival has been able to develop the Car alongside ride-hailing drivers from Uber in just over six months. This timeframe and partnership to create a purpose built vehicle is made possible because of Arrival’s vertical integration utilising technologies that are shared across Arrival’s entire portfolio of vehicles that also includes the Van and the Bus. Arrival vehicles are designed from the ground-up and vertically integrated using a radical new method of design and production using microfactories - a totally transformative approach to automotive production.

Arrival will now commence testing of the Car and will incorporate the feedback into the next design phase, continuing to evolve the product to create the most efficient, safe and desirable vehicle tailored specifically to this market.

“This is a key milestone for Arrival and we’re thrilled today to be releasing the first look at the Arrival Car. Over the past six months, we have been working closely with Uber’s drivers to create a vehicle specifically for the ride hailing industry, and making it affordable, durable and great to look at,” said Tom Elvidge, EVP Vehicle Platforms at Arrival. “Electrifying ride-hailing will play a crucial role in reducing the emissions of vehicles in cities globally, providing a sustainable, clean multi-modal transportation system for communities. We are keen on supporting drivers with this transition by developing the best possible product for ride hailing that elevates the experience for both them and their passengers, making urban air clean in the process.”

Jamie Heywood, Regional General Manager for Northern and Eastern Europe at Uber said: “The first reveal of the Arrival Car is an exciting moment for Uber drivers, who are switching to electric vehicles at a much faster rate than the mass market. Uber drivers have been working with Arrival to provide feedback on the design of the first purpose built, fully electric car for the ride-hailing industry. This exciting new vehicle will support our commitment for all cars on the app in London to be fully electric by 2025, helping to drive a green recovery and clean up urban transport.”

Arrival announced its partnership with Uber to develop an affordable, purpose-built electric vehicle (EV) for ride-hailing drivers earlier this year. The Arrival Car is addressing the global need to shift ride hailing and car sharing services, with over an estimated 30 million drivers across the ride-hailing sector, over to electric to reduce emissions and improve air quality in cities.

The Arrival Car joins Arrival’s Bus and Van, to provide cities with the multi-modal zero-emission transportation ecosystem that they require in order to meet their sustainability goals. Arrival’s vehicles will all be produced in local Microfactories, creating cleaner, more equitable mobility solutions for people living in cities that will have a radical impact on their health and prospects.

See HERE for Press Kit

About Arrival
Arrival was founded in 2015 with a mission to make air clean by replacing all vehicles with affordable electric solutions - produced by local Microfactories. Six years and over 2,000 people later, we are driving the transition to EVs globally by creating products that are zero-emission, more desirable, more sustainable and more equitable than ever before. Our in-house technologies enable our radical new method of design and production using rapidly-scalable, local Microfactories around the world. This method facilitates cities and governments in achieving their sustainability goals whilst also supercharging their communities. We are a technology company, a product company, a supply chain company, an automotive company, a mobility company, a fintech company and a service company - all rolled into one with a shared goal of true sustainability. 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 and Arrival’s projected future results. These forward-looking statements generally are identified by the words “believe,” “project,” “expect,” “anticipate,” “estimate,” “intend,” “strategy,” “future,” “opportunity,” “plan,” “may,” “should,” “will,” “would,” “will be,” “will continue,” “will likely result,” and similar expressions. Such statements are made pursuant to the safe harbor 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 document, including, but not limited to: (i) the impact of COVID-19 on Arrival’s business; (ii) the risk of downturns and the possibility of rapid change in the highly competitive industry in which Arrival operates, (iii) the risk that Arrival and its current and future collaborators are unable to successfully develop and commercialize Arrival’s products or services, or experience significant delays in doing so, (iv) the risk that Arrival may never achieve or sustain profitability; (v) the risk that Arrival experiences difficulties in managing its growth and expanding operations, (vi) the risk that third-parties suppliers and manufacturers are not able to fully and timely meet their obligations; (vii) the risk that the utilization of Microfactories will not provide the expected benefits due to, among other things, the inability to locate appropriate buildings to use as Microfactories, Microfactories needing a larger than anticipated factory footprint, and the inability of Arrival to deploy Microfactories in the anticipated time frame; (viii) the risk that the orders that have been placed for vehicles, including the order from UPS, are cancelled or modified; (ix) the risk of product liability or regulatory lawsuits or proceedings relating to Arrival’s products and services; and (x) the risk that Arrival will need to raise additional capital to execute its business plan, which may not be available on acceptable terms or at all; and (xi) the risk that Arrival is unable to secure or protect its intellectual property. The foregoing list of factors is not exhaustive. You should carefully consider the foregoing factors and the other risks and uncertainties described in the “Risk Factors” section of Arrival’s annual report on Form 20-F filed with the U.S. Securities and Exchange Commission (the “SEC”) on April 30, 2021 and other documents filed by Arrival with the SEC from time to time. Readers are cautioned not to put undue reliance on forward-looking statements, and except as required by applicable law, Arrival assumes no obligation and does not intend to update or revise these forward-looking statements, whether as a result of new information, future events, or otherwise. Arrival does not give any assurance that Arrival will achieve its expectations.

Media Contacts
Media
pr@arrival.com

Investors
ir@arrival.com

A photo accompanying this announcement is available at https://www.globenewswire.com/NewsRoom/AttachmentNg/ffb59ee3-54c9-4c73-935b-9ca301a728bf

FAQ

What is the Arrival Car and its purpose for Uber drivers?

The Arrival Car is an electric vehicle designed specifically for the ride-hailing industry, aiming to enhance the experience for both drivers and passengers.

When was the prototype of the Arrival Car completed?

The prototype of the Arrival Car was completed on schedule and revealed on December 16, 2021.

How does the Arrival Car support sustainability?

The Arrival Car aims to reduce emissions in urban environments by electrifying the ride-hailing sector, contributing to cleaner air and sustainability initiatives.

What is the production method used for the Arrival Car?

Arrival utilizes a microfactory production model, allowing for efficient and localized vehicle manufacturing.

How will feedback from Uber drivers influence the Arrival Car?

Arrival plans to incorporate feedback from Uber drivers into the next design phase to enhance the vehicle's efficiency, safety, and overall desirability.