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EV startup Arrival looks to sell off assets, intellectual property of UK division
Arrival is putting its UK division into administration and is looking to sell its EV business, including its assets and intellectual property.
Arrival announced Monday in a that its UK division is entering administration, the country’s version of bankruptcy. Those plans never bore out as the company continually bled money, while also taking on a wide array of projects like an electric bus and a purpose-built car for Uber. In 2022, Arrival shifted its focus to the United States and away from the UK market, where it is headquartered and where the first EV vans were supposed to be delivered.
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