What happened to Arrival EV?
Whatever the reasons, Arrival tanked hard. In 2023, it cut half its workforce. Its assets were then acquired by another EV startup, Canoo, which itself filed for bankruptcy earlier this year. Zoom out: Nikola joins fellow EV-makers Fisker Automotive, Electric Last Mile Solutions, and Lordstown Motors, all of which went bankrupt in the last three years after going public during 2020 or 2021.It’s the latest in a line of failed electric vehicle manufacturers. Arrival went bust in early 2024, and was followed by car brand Fisker. At the start of 2025, electric van brand Canoo ceased operations. In 2022, Nikola was embroiled in a scandal, which resulted in its founder being jailed for fraud.