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 that cost less than other EVs and competes with the pricing of fossil fuel vehicles.
A lofty goal requires a bold plan. For Arrival, that means bypassing the traditional large-scale or even “giga-sized” factory used by major automakers and moving instead to a much smaller and decentralized approach. Arrival plans to build 31 microfactories by 2024, including one in Charlotte, NC
These micro-factories allow the company to serve specific markets while keeping costs low, Arrival says. One of those markets is ride-hailing.
Arrival last year announced plans to partner with Uber to design and build an affordable, purpose-built, electric ride-hailing vehicle. 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 off his progress – and personally.
We are excited to announce that Avinash Rugoobur, president of Arrival, will sit with us for a chat by the fire next to a prototype vehicle designed for Uber drivers during TC Sessions: Mobility 2022 in San Mateo, California , May 18-19.
While the future vehicle will be a focal point of the discussion, you can expect a wide range of other topics to be covered, from Arrival’s interest in the commercial vehicle market and its micro-factory plans to its future products and whether it will accelerate vehicle production quickly. enough to convert the many non-binding orders and letters of intent (LOI) into actual sales.
Those pending agreements represent 59,000 vehicles, including an order from UPS for 10,000 vehicles with an option to purchase an additional 10,000. All told, the deal could be worth more than $1 billion.
We’re also curious about what still has to happen before we see Arrival buses and vans on roads, and rest assured we’ll be asking when the electric car that Arrival designed for Uber drivers will hit the streets .
We have so many questions, and Rugoobur is the person to provide the answers.
Responsible for the company’s business and product strategy and international expansion, Rugoobur oversaw the March 2021 public listing of Arrival – the UK’s largest IPO with a $13 billion IPO on Nasdaq. He also led the completion of more than $300 million in investments from leading investors, including Hyundai, Kia, UPS and funds managed by BlackRock.
Prior to Arrival, Rugoobur oversaw GM’s $1 billion acquisition of Cruise and was part of the team that saw its subsequent valuation rise to $14 billion. This work was critical in accelerating AV delivery and creating the OEM/startup ecosystem.
Don’t miss what promises to be a fascinating conversation with Rugoobur and an in-depth look at Arrival, a company trying to reinvent the auto industry and reduce the cost of EVs.
Breaking the hype, TC Session: Mobility 2022 goes beyond the headlines to discover how merging technology and transportation will impact a wide variety of industries, cities, and the people who work and live in them. Buy your pass today, before prices go up, and you’ll save $200!