ARVL
Electric vehicle startup Arrival sets board before SPAC debut
- Electric vehicle startup Arrival (ARVL) says it has now announced all
of its nominees for global board of directors, including the final two
members - Tawni Nazario-Cranz (VC at SignalFire) and Rex Tibbens
(Frontdoor
CEO).
- "With these additions, the board is expected to consist of seven
members who bring a wealth of experience from some of the world's most
innovative technology-enabled businesses. Together, they will play an
important role in supporting Arrival through this initial phase of
execution, as the company expands its global reach over the coming
years."
- Arrival is merging with CIIG Merger Corp. (NASDAQ:CIIC) in a SPAC deal
that is expected to close this quarter.
- Arrival aims to produce best-in-class commercial electric vehicles
using a new method of design and production.
- Arrival's business model: "Low CapEx, rapidly scalable Microfactories
combined with proprietary in-house developed components, materials and
software, enable the production of best in class vehicles competitively
priced to fossil fuel variants and with a substantially lower total cost
of
ownership. This transformative approach provides cities globally with the
solutions they need to create sustainable urban environments and
exceptional experiences for their citizens."
- Shares of CIIC are up 4.75% premarket.
- Wolfe Research already has a Buy rating on Arrival and $50 price
target on CIIC.
|Today, 8:45 AM
Electric vehicle startup Arrival sets board before SPAC debut
- Electric vehicle startup Arrival (ARVL) says it has now announced all
of its nominees for global board of directors, including the final two
members - Tawni Nazario-Cranz (VC at SignalFire) and Rex Tibbens
(Frontdoor
CEO).
- "With these additions, the board is expected to consist of seven
members who bring a wealth of experience from some of the world's most
innovative technology-enabled businesses. Together, they will play an
important role in supporting Arrival through this initial phase of
execution, as the company expands its global reach over the coming
years."
- Arrival is merging with CIIG Merger Corp. (NASDAQ:CIIC) in a SPAC deal
that is expected to close this quarter.
- Arrival aims to produce best-in-class commercial electric vehicles
using a new method of design and production.
- Arrival's business model: "Low CapEx, rapidly scalable Microfactories
combined with proprietary in-house developed components, materials and
software, enable the production of best in class vehicles competitively
priced to fossil fuel variants and with a substantially lower total cost
of
ownership. This transformative approach provides cities globally with the
solutions they need to create sustainable urban environments and
exceptional experiences for their citizens."
- Shares of CIIC are up 4.75% premarket.
- Wolfe Research already has a Buy rating on Arrival and $50 price
target on CIIC.
|Today, 8:45 AM
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