Arrival proposes business reorganization to focus on starting Van production in Q3

• Arrival (NASDAQ:ARVL) said Tuesday it proposed a reorganization of its business in light of the challenging macro environment as it focuses on starting production of the Arrival Van in Q3.
• The proposal includes a realignment of the firm that would enable it to deliver business priorities till late 2023, primarily using $500M cash on hand.
• It also includes targeted 30% cost cuts, potentially impacting up to 30% of ARVL's employees globally.
• ARVL believes its proposals will enable it to service strong demand amid supply chain issues, the pandemic, geopolitical tensions and rising inflation.
• The firm will provide an update on its strategy during its Q2 post-earnings call on Aug. 11.
• ARVL stock inched 1.4% higher in aftermarket trade.

Comments

[Equities Ghoul]

$REE does a better job at what ARVL is trying to do. REE beat ARVL to market with a step van prototype that ARVL can not produce. ARVL is only working on vans now.

[pat45]

Can they give some details and have they made prototypes yet?? July 13 article shows vans to be made for UPS. Are they working vans that UPS is trying out???

[MrPink325]

they are heavy in engineering IMHO. Dropping engineers and adding scm/mfg workforce. Suspect their small specialised part orders are falling on deaf ears in the sc. Get the MF #1 going and bring some cash to stay afloat else more debt or IP sell off. Prototypes are easy per Elon case in point Arrival. Big, bold ideas I like, but time to deliver all puns intended.

[wpinkjr]

During the greatest demand in history - all they produced is a skateboard and -8.46 (-85.28%) all time return. Cheers! Fairly certain ill take a 99% loss on this pos

[DR JACOB ANDERSON]

How do you spell that item outside where you throw the things you don't want in? Starts with a T

[Whisky123]

Good. This effort will help Europe throughout this recession and help them reduce dependency on fossil fuels. They may be cutting internal workforce, but they'll be creating indirect jobs through the supply chain.

[MrPink325]

@Whisky123 they are heavy in engineering IMHO. Dropping engineers and adding scm/mfg workforce. Suspect their small specialised part orders are falling on deaf ears in the sc. Get the MF #1 going and bring some cash to stay afloat else more debt or IP sell off. Prototypes are easy per Elon case in point Arrival. Big, bold ideas I like, but time to deliver all puns intended. Small spec position at $20