Why did Arrival go bust?
Faced with increasing challenging market and macroeconomic conditions, resulting in delays in getting its products to market, the Arrival Group took several actions in early 2023 to reduce its operating expenditures and to seek further investment to address the Arrival group’s funding requirement. In February 2024, after getting its stock delisted from the Nasdaq, Arrival’s UK division entered administration, with future plans of a sale of Arrival and all of its affiliated assets. In March 2024, Arrival’s assets were acquired by Canoo, another EV startup.