Technology: Southeast News

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Posted December 24, 2020

 

CHARLOTTE – The London-based technology company, Arrival, which develops electric lightweight commercial vehicles, is bringing its North American headquarters to Charlotte.

The company, which was founded in 2015, will invest approximately $3 million in the South End neighborhood of the Queen City and plans to hire around 150 employees, the company said in a statement published on their website.

Until January, when the company announced a $110 million investment from Kia and Hyundai, Arrival was a relatively unknown electric vehicle startup.

The company continued to make announcements throughout 2020, including the announcement in October that it will build its first United States microfactory in Rock Hill, South Carolina, a suburb of the Charlotte metropolitan area, investing $46 million and anticipating the creation of 240 new jobs and an additional investment of $118 million from funds managed by BlackRock to support the project.

Then, the company announced the expansion of its leadership team including a new CEO and announced its plans to merge with CIIG Merger Corp. to become a publicly-traded company that will be listed on the NASDAQ under the ticker symbol ARVL, as soon as 2021.

According to press statements, the company has developed a new method of designing and producing zero-emission vehicles using proprietary hardware and vertically-integrated technology while manufacturing the vehicles in the firm’s microfactories.

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