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EV maker Arrival scraps SPAC merger plans as focus on cash burn

British electric vehicle company Arrival, whose shares fell more than 2% in extended trading, had said in April it would merge with Kensington Capital Acquisition Corp V to bolster its depleting cash pile. The special purpose acquisition company (SPAC) did not immediately respond to a request for comment. Meanwhile, Nikola Corp will liquidate the assets of Romeo Power, an EV battery maker it acquired less than a year ago, to energize the business. ....

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Electric vehicle makers burning cash, slammed by sky-high costs

Every time Lucid Group Inc or Rivian Automotive Inc sells an electric car, they are losing hundreds of thousands of dollars due to staggering raw material and production costs, their latest earnings statements showed. ....

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ROSEN, GLOBAL INVESTOR COUNSEL, Encourages Arrival SA

NEW YORK, Jan. 29, 2022 (GLOBE NEWSWIRE) WHY: Rosen Law Firm, a global investor rights law firm, reminds purchasers of the securities of Arrival SA. ....

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