Arrival, a UK-based electric vehicle company that went public last year, has set itself a lofty goal. The company aims to produce electric vehicles at a lower cost than other electric vehicles and compete with fossil fuel vehicle pricing.
A lofty goal requires a bold plan. For Arrival, that means ditching the traditional large-scale or even “giga-sized” factory used by major automakers and moving instead to a smaller and decentralized approach. much more central. Arrival plans to build 31 micromaterials by 2024, including one in Charlotte, NC .
These micro-factors allow the company to serve specific markets while keeping costs low, Arrival argues. One such market is ride-hailing services.
Last year, Arrival announced plans to design and build an affordable, purpose-built electric vehicle in partnership with Uber. Drivers were even invited to participate in the design process of the vehicle, which is expected to enter production in the third quarter of 2023.
Now, a year later, Arrival is ready to show its progress – and live.
We’re excited to announce that Avinash Rugoobur, president of Arrival, will be sitting with us to chat next to a prototype of the vehicle designed for Uber drivers at Top collaborator session: Mobility 2022 in San Mateo, California May 18-19.
While the upcoming vehicle will be at the center of the discussion, expect a range of other topics to be covered from Arrival’s interest in the commercial vehicle market and micro-plans for future products and whether they can ramp up vehicle production fast enough to turn more non-binding orders and letters of intent (LOIs) into actual sales.
Those pending deals represent 59,000 vehicles, including an order from UPS for 10,000 vehicles with the option to purchase another 10,000. All told, the deal could be worth more than $1 billion.
We’re also curious about what steps are left before we see buses and trucks arrive on the road, and you can bet we’ll ask when the electric vehicle Arrival designed for drivers to leave. Uber’s motorbike taxi will be on the road.
We have a lot of questions and Rugoobur is just the one providing the answers.
Responsible for the company’s product and business strategy and international expansion, Rugoobur oversaw Arrival’s public listing in March 2021 – the UK’s largest IPO with an investment invested $13 billion on Nasdaq. He also led the closing of more than $300 million in investments from blue-chip investors including Hyundai, Kia, UPS and funds managed by BlackRock.
Prior to joining Arrival, Rugoobur guided GM to a $1 billion acquisition of Cruise, and he was part of the team that saw its subsequent valuation rise to $14 billion. This work plays an important role in accelerating AV delivery and creating an OEM/startup ecosystem.
Don’t miss what promises to be an engaging conversation with Rugoobur and an in-depth look at Arrival, a company trying to reinvent the auto industry and bring down the cost of electric vehicles.
TC session: Mobility 2022 Break through the hype and go beyond the headlines to explore how merging technology and transportation will affect a wide range of industries, cities, and the people who work and live in there. Buy your tickets today, before prices go up and you’ll save $200!