The electric bus and van developer has added cash from funds managed by BlackRock to money raised from Hyundai, Kia and UPS in January.
Arrival, the UK-headquartered electric vehicle developer that counts carmaker Hyundai and delivery services provider UPS as investors, raised $118m from funds managed by investment management firm BlackRock yesterday.
Founded in 2015, Arrival is working on smart plug-in electric buses and vans in addition to a suite of digital products such as in-car systems that generate data and enable vehicles to calculate routes in real time.
Arrival has earmarked the capital for the expansion of its manufacturing facilities, having recently committed…
