Arrival slashes production targets to just 20 EV vans as part of restructuring

Arrival, the U.K.-based commercial EV startup turned publicly traded company, has lowered its delivery plans from 400 vehicles to 20 as it postpones development of its battery-electric buses and shifts gears to focus on vans.
The company, which reported Thursday widening losses for the second quarter, said it no longer expects to generate revenue in 2022.
“We are switching from the mode where we have two products, two shifts and two micro factories to the mode where it’s one factory, one shift, one product,” CEO Denis Sverdlov said during a call with analysts. “We believe that this oppor

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