microfactory

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

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.

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