Future looks promising for the UK start-up

Arrival, the £4bn UK start-up has been gaining the attention of the investors for quite some time now. The company, which has yet to sell a vehicle has scored many investors, and more continue to show interest. But, this sector is now the host to the multibillion-pound start-up company, so things seem to be going well so far.

The company recently agreed to merge with the SPAC (special acquisition company). If we add the share price and use it to calculate the worth of the share the investors have in the company, we will get a value of $5.3 billion. So, that’s pretty amazing, for a company that’s yet to sell its first vehicle, you can buy Jaguar Land Rover for less money.

If you are not familiar with Denis, he is a Russian-born tech billionaire and former politician. So, far he has managed to do everything right for his firm, made the right moves, and got the interest of big investors. The most notable investors are Hyundai and Kia, which made a combined investment of €100 million.

Many people have asked whether it is really worth $5.2bn. According to the firm’s president Avinash Rugoobur, it is. He pointed towards the fact that the commercial vehicle and bus market is worth £313bn, and says their company will compete with the big-name van players. They will provide a well-designed electric vehicle, which can be compared in price and size to a large diesel Transit but will have lower running costs.

He said that to the fleet, we will provide a vehicle that’s cheaper to operate and easier to maintain. And, it’s not like they had a major battery breakthrough, they will use the standard battery cells from LG Chem. The company says they are planning on the costs to be lower, mainly because of its micro-factory’ production plan.