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Wednesday, May 12, 2021

Arrival of electric truck maker develops battery-powered rideshare car with Uber

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Arrival, a British startup preparing to build electric buses and delivery vans, is expanding its model range to include a small, battery-powered passenger car and partnering with Uber to adjust it for use in fleets of carpooling.

The arrival car is intended to be a relatively inexpensive electric vehicle designed for ride-sharing and ride-sharing fleets, initially in the UK and the European Union, said Tom Elvidge, senior vice president of mobility at ‘Arrival. Production begins at the end of 2023 at one of the flexible, London-based ‘micro-factories’ Arrival is setting up, after the start of assembly of its transit buses and trains. commercial vans. Prior to that, Uber drivers will provide design feedback to fine tune the car’s packaging and features.

“The partnership we have with (Uber) is about making sure they get the best product for what they need,” said Elvidge, former managing director of Uber UK and Ireland. He did not provide any financial details. “It’s something that has to be affordable. It should be very durable, user-friendly, easy to clean, capable of accommodating multiple inbound and outbound passengers in a day, and easy to maintain. “

Founded by Russian billionaire entrepreneur Denis Sverdlov, Nasdaq-list Arrival is part of a wave of next-generation electric vehicle companies looking to expand the market for non-polluting cars and trucks. Unlike Elon Musk’s Tesla, which aims to cut production costs by building huge multi-billion dollar Gigafactories, the Arrival approach is small, low-cost factories that can be installed in existing warehouses for produce light vehicles that cost about as much as gasoline. -models powered by smaller battery packs and composite body panels. Its first three micro-factories, each costing less than $ 50 million, are being established in England, South Carolina and North Carolina, and more are on the way.

The arrival came out of semi-stealth with a bang in early 2020 when Hyundai and Kia bought a € 100 million ($ 110 million) stake. Shortly after, UPS, which is also an investor, announced that it would purchase up to 10,000 electric delivery vans for its fleet in a deal that could ultimately be worth nearly $ 500 million. The company says it plans to start generating revenue this year and have positive cash flow in 2023.

Arrivée’s collaboration with Uber is not exclusive and the company could eventually supply its vehicle to other fleets. The price and estimated range per charge for the arrival car has yet to be set, although the latter is likely to be at least 250 miles, Elvidge said. This is one of the details that will be determined as a result of testing by Uber drivers.

Uber, which operates primarily in dense urban environments, aims to offer trips exclusively with electric vehicles at its London hub by 2025 and to adopt this standard in North America and Europe by 2030.

“Uber is committed to helping all drivers in London switch to an electric vehicle by 2025, and through our Clean Air Plan, more than £ 135million ($ 188million) has been raised to support this ambition, ”said Jamie Heywood, regional general manager of Uber. for Northern and Eastern Europe. “Our goal now is to encourage drivers to use this money to help them switch to an electric vehicle, and our partnership with Arrival will help us achieve that goal.”

Stocks of Arrival fell 6.7% to $ 17.35 in the Nasdaq on Monday.


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