Aankondiging • Mar 21
Nasdaq to Delist Ordinary Shares of Arrival Nasdaq announced that it will delist the ordinary shares of Arrival. The Company’s securities were suspended on January 30, 2024, and have not traded on Nasdaq since that time. Aankondiging • Jan 31
Arrival(OTCPK:ARVL.F) dropped from NASDAQ Transportation Index Arrival has been dropped from NASDAQ Transportation Index . Aankondiging • Jan 30
Arrival(OTCPK:ARVL.F) dropped from NASDAQ Composite Index Arrival has been dropped from NASDAQ Composite Index . Aankondiging • Nov 17
Arrival Appoints Julian Nemirovsky as Non-Executive Director On November 16, 2023, the Board of Directors of Arrival announced the appointment of Mr. Julian Nemirovsky as a non-executive Director. Mr. Nemirovsky is the Founder and President of Long Castle Advisors Corp., offering capital structure and related consulting services to operationally challenged and liquidity constrained businesses. He was formerly Head of Capital Markets at MacAndrews & Forbes, where he was responsible for managing all capital-structure matters relating to the firm's portfolio companies and new investments. Prior to joining MacAndrews in 2020, he spent 8 years at MidOcean Credit Partners, where he held the title of Principal and Portfolio Manager. In that role, he was responsible for management of over $1 billion of assets across several opportunistic credit strategies including long short hedge funds and illiquid credit drawdown funds. Prior to joining MidOcean in 2011, he was an Associate at Union Capital, a lower-middle market private equity firm. He began his career in 2006 as an Analyst in Goldman Sachs' Leveraged Finance group within the Investment Banking division. Mr. Nemirovsky is currently a director of SIGA Technologies serving on the audit committee and compensation committee. Mr. Nemirovsky holds a BBA from Baruch College and an MBA from the Tuck School of Business (Dartmouth). Aankondiging • Sep 12
Arrival Announces the Resignation of Tawni Nazario-Cranz as Director Ms. Tawni Nazario-Cranz provided Arrival SA with a notice of resignation as a Director. Ms. Nazario-Cranz served as Chair of the Compensation Committee, Member of the Nominating and Corporate Governance Committee and Member of the Audit Committee. Such resignation took effect September 6, 2023. Aankondiging • Aug 11
Arrival Announces Management Appointments On August 1, 2023, the Board of Directors of Arrival (the Board") appointed Igor Torgov as an Executive Director. Igor Torgov has served Arrival since 2020 in his role as Executive Vice President of multiple divisionsincluding Fintech, Commercialization, Business Systems, IT and Digital products. On January 30th, 2023, Igor was appointed Chief Executive Officer by the Board, following former Interim CEO Peter Cuneo's brief assignmentin the office between November 2022 and January 2023. Prior to Arrival, Igor has held numerous COO, CEO, and leadership positions at Atol, Bitfury, Yota, Columbus IT and Microsoft. Igor holds an MBA in StrategicManagement from California State University in Hayward, California. On August 2, 2023, Maxim Krasnykh member of the Board of Directors since May 25, 2023 was appointed Chair of the Audit Committee. Aankondiging • May 04
Arrival to Report Q1, 2023 Results on May 15, 2023 Arrival announced that they will report Q1, 2023 results After-Market on May 15, 2023 Aankondiging • Feb 17
Arrival to Report Q4, 2022 Results on Mar 09, 2023 Arrival announced that they will report Q4, 2022 results at 9:30 AM, US Eastern Standard Time on Mar 09, 2023 Breakeven Date Change • Jan 31
Forecast to breakeven in 2025 The analyst covering Arrival expects the company to break even for the first time. New forecast suggests the company will make a profit of US$40.3m in 2025. Average annual earnings growth of 39% is required to achieve expected profit on schedule. Aankondiging • Jan 31
Arrival Announces the Appointment of Igor Torgov as CEO Arrival announced the appointment of Igor Torgov, former Arrival EVP of Digital, as CEO. The Board has unanimously voted in Igor to effect the planned restructuring of its business and to support Arrival’s mission to master a radically more efficient New Method to design and produce electric vehicles. Igor Torgov’s appointment will take effect from, January 30, 2023. Igor joined Arrival in February 2020 and has led the development of multiple divisions at Arrival including Fintech, Commercialization, Business Systems, IT and Digital products over the last nearly three years. Prior to Arrival, Igor held numerous COO, CEO, and leadership positions at Atol, Bitfury, Yota, Columbus IT and Microsoft. Igor holds his MBA in Strategic Management from California State University in Hayward, California. Arrival has previously announced its plan to refocus its resources on the development of its US Van product, which the company currently expects to start production in Charlotte in 2024, subject to raising additional capital. Board Change • Nov 16
High number of new and inexperienced directors There are 7 new directors who have joined the board in the last 3 years. The company's board is composed of: 7 new directors. No experienced directors. No highly experienced directors. Director Yunseong Hwang is the most experienced director on the board, commencing their role in 2021. The following issues are considered to be risks according to the Simply Wall St Risk Model: Lack of board continuity. Lack of experienced directors. Aankondiging • Nov 04
Arrival Announces Receipt of Nasdaq Non-Compliance Letter Regarding Minimum Bid Price Requirement On October 31, 2022, Arrival (the “Company”) received a notification (the “Notification”) from The Nasdaq Stock Market LLC (“Nasdaq”) that the Company no longer satisfies Nasdaq Listing Rule 5450(a)(1) because the closing bid price of the Company’s ordinary shares (the “Shares”) was below $1.00 per Share for 30 consecutive business days preceding the date of the Notification. Pursuant to Nasdaq Listing Rule 5810(c)(3)(A), the Company is provided with a grace period of 180 days, or until May 1, 2023, to meet the minimum bid price requirement under the Nasdaq Listing Rules. If at any time during the 180-day grace period, the closing bid price of the Shares is $1.00 per Share or higher for at least ten consecutive business days, Nasdaq will provide the Company written confirmation of compliance and the matter will be closed. In the event the Company does not regain compliance within the 180-day grace period, the Company may be eligible for an additional 180-day grace period if it applies to transfer the listing of the Shares to the Nasdaq Capital Market. To qualify, the Company would be required to meet the continued listing requirement for the market value of its publicly held Shares and all other initial listing standards for the Nasdaq Capital Market, with the exception of the minimum bid price requirement, and provide written notice of its intention to cure the minimum bid price deficiency during the second compliance period by effecting a reverse stock split, if necessary. If the Nasdaq staff determines that the Company will not be able to cure the deficiency, or if the Company is otherwise not eligible for such additional compliance period, Nasdaq will provide notice that the Shares will be subject to delisting. The Company would have the right to appeal a determination to delist the Shares, and the Shares would remain listed on the Nasdaq Global Market until the completion of the appeal process. Aankondiging • Oct 15
Arrival to Report Q3, 2022 Results on Nov 08, 2022 Arrival announced that they will report Q3, 2022 results Pre-Market on Nov 08, 2022 Breakeven Date Change • Sep 15
No longer forecast to breakeven The 4 analysts covering Arrival no longer expect the company to break even during the foreseeable future. The company was expected to make a profit of US$65.7m in 2024. New consensus forecast suggests the company will make a loss of US$91.6m in 2024. Breakeven Date Change • Aug 17
No longer forecast to breakeven The 4 analysts covering Arrival no longer expect the company to break even during the foreseeable future. The company was expected to make a profit of US$71.7m in 2024. New consensus forecast suggests the company will make a loss of US$94.2m in 2024. Aankondiging • Jul 29
Arrival to Report Q2, 2022 Results on Aug 11, 2022 Arrival announced that they will report Q2, 2022 results on Aug 11, 2022 Breakeven Date Change • Jul 24
No longer forecast to breakeven The 3 analysts covering Arrival no longer expect the company to break even during the foreseeable future. The company was expected to make a profit of €335.1m in 2024. New consensus forecast suggests the company will make a loss of €31.2m in 2024. Aankondiging • Jul 06
Arrival Appoints Mandeep Bajwa as Chief Human Resources Officer Arrival announced Mandeep Bajwa has joined the company’s leadership team as Chief Human Resources Officer. Mandeep will join Arrival in July, where she will be responsible for Arrival’s strategy in managing all employees globally, overseeing all of Arrival’s employee and workplace operation including global recruitment, people management and operations, diversity, equality and inclusion, and organisational effectiveness. She brings almost two decades of global experience across all facets of human resources strategy and development on a global scale, having served most recently as the Chief People Officer at Gett, the leading provider of ground transportation management. Prior, Mandeep held senior management positions across a range of established corporate environments to unicorn start-ups including CloudKitchens and WeWork. Her experience has given her a unique perspective on building and sustaining cultures for long-term growth. Aankondiging • Jun 22
Arrival Achieves EU Van Certification Milestone and Receives European Whole Vehicle Type Approval Arrival announced that the Arrival Van has achieved EU certification and received European Whole Vehicle Type Approval (EUWVTA). Arrival successfully completed all the required functional and safety testing to achieve EUWVTA, which is a critical step towards starting trials with customers in the coming months. The company is expected to start production of the Van in Bicester, UK in third quarter 2022. Arrival's zero-emission Van is purposefully designed to be an environmentally sustainable and economically efficient commercial electric vehicle, compared to traditional vans. It features Arrival's advanced in-house hardware and software technologies throughout the vehicle to create an elevated experience and provide operators with the data and tools they need to optimize the running of a fleet. The vehicle is made from Arrival's unique lightweight composite materials, which are designed to be recyclable, durable and lower in cost. The Arrival Van will be manufactured using Arrival's pioneering new method of production - using Microfactories placed in cities all around the world. Microfactories are expected to have a lower Capex and cost of assembly, shorter commissioning time and be more environmentally friendly than traditional methods of production. Arrival takes a modular and flexible approach to the design and production of its vehicles, which means the hardware and software is upgradable over a vehicle's lifetime. The company will continually update and test its vehicles, in order to deliver the best possible product and experience for customers. Arrival has over 140k non-binding LOIs and orders for variants of the Arrival Van. The rapid growth of e-commerce has led to an increase in demand for light commercial transport in cities, increasing both congestion and pollution. At the same time, there is an urgent need from cities, fleet operators and national governments to decarbonise operations in line with global public policy. At COP26, more than thirty countries, dozens of states and cities, agreed to work to guarantee that new cars and vans sold are zero-emission by 2035, and the EU passed this ruling last week. With commercial vehicles covering higher mileage on a daily basis, they are one of the biggest contributors to air pollution in Europe, accounting for 13% of road transport carbon pollution. The Arrival Van has been made to help accelerate the transition to electric vehicles, creating cleaner air for cities all over the world. Aankondiging • Jun 03
Arrival Van Completes All Type Approval Testing Arrival announced that physical type approval testing is now complete for the Van, and Arrival expects to receive official paperwork over the coming weeks for European Whole Vehicle Type Approval (EUWVTA). Arrival expects to receive official paperwork over the coming weeks for the European Whole Vehicle Type Approval (EUWVTA) and is expecting to start production of the Van in Bicester, UK in Third Quarter 2022 and Charlotte, NC, USA in Fourth Quarter 2022. Board Change • Apr 27
High number of new and inexperienced directors There are 7 new directors who have joined the board in the last 3 years. The company's board is composed of: 7 new directors. No experienced directors. No highly experienced directors. President & Director Avinash Rugoobur is the most experienced director on the board, commencing their role in 2021. The following issues are considered to be risks according to the Simply Wall St Risk Model: Lack of board continuity. Lack of experienced directors. Aankondiging • Apr 20
Arrival to Report Q1, 2022 Results on May 10, 2022 Arrival announced that they will report Q1, 2022 results Pre-Market on May 10, 2022 Aankondiging • Jan 28
Arrival to Report Q4, 2021 Results on Mar 02, 2022 Arrival announced that they will report Q4, 2021 results Pre-Market on Mar 02, 2022 Aankondiging • Jan 24
Pomerantz LLP Announces Class Action Lawsuit Against Arrival SA Pomerantz LLP announced that a class action lawsuit has been filed against Arrival SA (“Arrival” or the “Company”) (NASDAQ: ARVL) and certain of its officers. The class action, filed in the United States District Court for the Eastern District of New York, and docketed under 22-cv-00172, is on behalf of a class consisting of all persons and entities other than Defendants that purchased or otherwise acquired common shares of Arrival stock between November 18, 2020 and November 19, 2021, both dates inclusive (the “Class Period”), seeking to recover damages caused by Defendants’ violation of the federal securities laws under Sections 10(b) and 20(a) of the Securities Exchange Act of 1934 (the “Exchange Act”) and Rule 10b-5 promulgated thereunder, against the Company and certain of its top officials. business, operations, and compliance policies. Specifically, Defendants made false and/or misleading statements and/or failed to disclose that: (i) the Company would record a substantially greater net loss and adjusted EBITDA loss in the third quarter of 2021 compared to the third quarter of 2020; (ii) the Company would experience far greater capital and operational expense to operate and deploy its microfactories and manufacture EV vehicles than it had disclosed; (iii) the Company would not capitalize on or achieve profitability or provide meaningful revenue in the time periods disclosed; (iv) the Company would not achieve its disclosed production and sales volumes; (v) the Company would not meet the disclosed production rollout deadlines; (vi) accordingly, the Company materially overstated its financial and operational position and/or prospects; and (vii) as a result, the Company’s public statements were materially false and misleading at all relevant times. Aankondiging • Dec 29
Arrival Begins Proving Ground Trials of Its Electric Bus Arrival announced it has started trials of the Arrival Bus at a testing facility in the UK. The vehicles will be going through rigorous validation and testing ahead of certification. The Arrival Bus is creating a new and improved public transportation experience for all users – from the drivers and passengers to the engineers, cleaners, and fleet owners – and reducing costs for operators, making the transition to electric vehicles more economically viable. The vehicle takes advantage of Arrival’s software ecosystem, enabling full connectivity, digital customisation, and deep access to vehicle behaviour and data. The vehicle can be tailored to meet local cities’ needs with its modular design, which enables configuration of length, range, battery, and passenger capacity. The first Arrival Bus features up to three doors, with flexible passenger seating capacity across the entire flat floor, allowing for greater accessibility, as well as creating more usable standing space and the ability for passengers to travel more comfortably. The vehicle also has wrap-around exterior and interior screens, adaptable lighting, transparent roof and a suite of digital features. The Bus uses in-house components that are also found on the Arrival Van and Car, and Arrival’s lightweight recyclable composite materials. This, alongside common suspension and the wheels and tires at front and rear, means the Bus is estimated to be lighter than other battery-electric buses in the market today. Following proving ground trials, Arrival will commence public road trials of the Bus with First Bus – one of the UK’s largest transport operators – in First Quarter 2022. The trials will see Arrival’s vehicles operating on existing First Bus routes in the UK. Arrival is expected to begin production for the Bus in Second Quarter 2022. Aankondiging • Dec 24
Johnson Fistel, LLP Announces A Class Action Lawsuit Against Arrival SA Shareholder rights law firm Johnson Fistel, LLP announces that a class action lawsuit has commenced on behalf of investors of Arrival SA. The class action is on behalf of shareholders who purchased Arrival securities between November 18, 2020 and November 19, 2021, inclusive. To serve as lead plaintiff in this class action, must move the Court no later than February 22, 2022. According to the lawsuit, Arrival made false and misleading statements to the public throughout the Class Period. It failed to disclose material adverse facts about the Company’s business, operational, and financial prospects. Specifically, Arrival made false and misleading statements concerning: (i) the Company would record a substantially greater net loss and adjusted EBITDA loss in the third quarter of 2021 compared to the third quarter of 2020; (ii) the Company would experience far greater capital and operational expenses required to operate and deploy its micro-factories and manufacture EVs than disclosed; (iii) the Company would not capitalize on or achieve profitability or provide meaningful revenue in the time periods disclosed; (iv) the Company would not achieve its production and sales volumes; (v) the Company would not meet the disclosed production rollout deadlines; (vi) accordingly, the Company materially overstated its financial and operational position and prospects; and (vii) as a result, the Company’s public statements were materially false and misleading at all relevant times. A lead plaintiff will act on behalf of all other class members in directing the Arrival class-action lawsuit. The lead plaintiff can select a law firm of its choice to litigate the class-action lawsuit. An investor's ability to share any potential future recovery of the Arrival class action lawsuit is not dependent upon serving as lead plaintiff. Aankondiging • Dec 17
Arrival Reveals its First Electric Car Designed to Transform the Global Ride-Hailing Industry Arrival 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. 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. Breakeven Date Change • Nov 13
Forecast to breakeven in 2023 The 2 analysts covering Arrival expect the company to break even for the first time. New consensus forecast suggests the company will make a profit of €4.00m in 2023. Average annual earnings growth of 78% is required to achieve expected profit on schedule. Breakeven Date Change • Nov 11
Forecast to breakeven in 2023 The 2 analysts covering Arrival expect the company to break even for the first time. New consensus forecast suggests the company will make a profit of €4.00m in 2023. Average annual earnings growth of 78% is required to achieve expected profit on schedule. Breakeven Date Change • Sep 23
Forecast to breakeven in 2023 The analyst covering Arrival expects the company to break even for the first time. New forecast suggests the company will make a profit of €680.7m in 2023. Average annual earnings growth of 75% is required to achieve expected profit on schedule. Executive Departure • Jul 15
Director Jae Oh has left the company On the 5th of July, Jae Oh's tenure as Director ended after less than a year in the role. We don't have any record of a personal shareholding under Jae's name. Jae is the only executive to leave the company over the last 12 months. The current median tenure of the management team is 1.08 years, which is considered inexperienced in the Simply Wall St Risk Model. 