Arrival

Moves similar to blackjack tactics describe how cash-poor transportation startups are grasping for new capital.

Losers among transportation startups are rapidly being defined, It will take longer to determine the winners.

Startup electric last-mile van developer Arrival cut 50% of its workforce as it tries to reduce cash burn and make it to production.

Several high-profile commercial electric vehicle makers have faced recent struggles, but BrightDrop says it is on pace for $1 billion in revenue next year.

EV maker Arrival, which has a 10,000 van order from UPS, said it would only produce 20 vehicles this year, down from an estimated 400 to 600 just one quarter ago.

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Electric-vehicle maker Rivian is said to be looking for as much as $8 billion from its upcoming IPO, which would make it the fourth-largest U.S. IPO in the past 10 years.

Rising container rates and the semiconductor shortage could hurt electric vehicle startups Arrival and ELMS, but not enough to dampen the outlook, according to the analysts at Cowen.

The company successfully tested one of its driverless Arrival vans at a fully functioning parcel depot.

Arrival, which has a large electric van order from UPS, has selected HERE Technologies to provide turn-by-turn navigation and a location visibility platform for vehicles.

Fidelity had led a $360 million private funding round into BETA Technologies to speed development of small electric aircraft for passenger and cargo usage.

Electric vehicle startup Arrival announced it would build a ride-hailing specific electric car for Uber to use in the U.K. and Europe. Separately, Uber said it will now deliver everyday essential items to customers from Gopuff in the U.S.

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UPS Flight Forward has an option to buy up to 150 electric aircraft that can transport up to 1,400 pounds of cargo each from Beta Technologies.

Research firm Cowen has set a price target of $28.50 per share for EV startup Arrival – more than $10 higher than Monday’s trading price. Cowen cited its unique approach to manufacturing as one reason for its optimism.

DHL Express was pleased with a trial of nine Lightning eMotors electric Ford Transit vans and is now ordering an additional 89 units to deploy in New York and California.

UK electric van and bus startup Arrival adds to Charlotte, North Carolina, presence with second US microfactory targeted to fill UPS order.

When he tried to sell GM’s iconic Hummer brand to the Chinese a decade ago, Jim Taylor never imagined he would import tiny electric delivery van bodies from China to finish in the plant that spawned the hulking SUV.

Workhorse Group booked its biggest order for its electric delivery vans, but the deal requires the company to come through on time starting this July — maybe.

U.K.-based Arrival picks Charlotte, North Carolina, as its North American headquarters. It’s a 30-minute drive from its planned microfactory in South Carolina and close to UPS, a major customer for its electric vans.