Arrival said it would lay off 50 percent of its workforce in a bid to reduce costs and stave off bankruptcy. The struggling EV company also named a new CEO.
Arrival set out eight years ago to make electric vehicle production "radically more efficient." Arrival trumpeted how its automated microfactories would simultaneously churn out electric vans for UPS, cars for Uber drivers and buses for the U.K., Italy and California. The company reported Friday in a regulatory filing that it missed another deadline to file its 2022 annual report, putting it out of compliance with the Nasdaq Exchange.
Cruise and Waymo score a win and a surprising deal between electric aircraft rivals yahoo.com - get the latest breaking news, showbiz & celebrity photos, sport news & rumours, viral videos and top stories from yahoo.com Daily Mail and Mail on Sunday newspapers.
Cruise and Waymo score a win and a surprising deal between electric aircraft rivals techcrunch.com - get the latest breaking news, showbiz & celebrity photos, sport news & rumours, viral videos and top stories from techcrunch.com Daily Mail and Mail on Sunday newspapers.