Arrival nabs $300M lifeline, but is still seeking more funds

Struggling electric vehicle company Arrival has secured a $300 million lifeline to help it stay in business into late 2023, but no later. The company is seeking additional dedicated funds to develop its XL delivery vans for the U.S. market and start production in Charlotte, North Carolina by 2024.
Arrival announced the $300 million equity financing line from Westwood Capital at its fourth-quarter and full-year 2022 earnings call Monday. The company also scheduled an Extraordinary General Meeting of shareholders for April 6 to vote on a number of resolutions, including a reverse stock split to

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