TECH - Electric Van Maker Arrival On The Brink Of Bankruptcy Holding Discussions With EY: Report | Benzinga
Electric vehicle manufacturer Arrival SA (NASDAQ:ARVL) is reportedly on the brink of bankruptcy and in talks with EY after its shares plummeted by nearly 96% over the past year.
What Happened: Arrival is in discussions with EY to step in as administrator should the company fail to acquire necessary rescue funds, Sky News reported. The UK-based company, once harboring grand plans to revolutionize the global electric vehicle production industry, is now focusing on contingency planning.
While it is unlikely that Arrival will raise sufficient funds, there is still a ...