British electric commercial vehicle manufacturer Arrival has entered administration, putting as many as 400 jobs at risk.
Simon Edel, Alan Hudson and Sam Woodward of EY-Parthenon’s Turnaround and Restructuring Strategy team have been appointed as joint administrators of Arrival UK Ltd and Arrival Automotive UK Limited, both subsidiaries of Arrival.
A statement issued on behalf of Arrival Group said: “The Group’s liquidity position has been impacted by challenging market and macroeconomic conditions resulting in delays in getting the Group’s products to market.
“The administrators are now exploring options for the sale of the business and assets of the subsidiaries, including the electric vehicle platform, software, intellectual property and R&D assets, for the benefit of creditors.”
Arrival, which is a joint stock company governed by Luxembourg law, develops purpose-built commercial vehicles, using flexible and sustainable manufacturing methods and a heavily automated microfactory concept.
Its vehicle platforms include last-mile delivery vans, intracity buses and ride-sharing passenger cars and are backed by proprietary software applications, intellectual property and patents, with more than US$1.5bn (£1.2bn) invested to date.
The group is headquartered in Banbury, Oxfordshire and operates from nine sites across the UK. Currently, Arrival employs around 400 people.
In 2023, in response to a challenging capital market environment, it was announced that production would be focused on its Class 4 delivery van (the XL Van), to be sold in the US market.
All of Arrival’s other subsidiaries will continue their activities as usual outside of the administration process.
