30 days of being under $1 they get a warning letter then 180 days to rectify it I believe
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Thanks for explaining that @DavePanda
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Just to add to this if not mentioned already. If Arrival trades above $1 for 10 consecutive “trading days” then they will be compliant again.
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It’s been under $1 over 30 days now
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When you thought things couldn’t be going worse…
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This obviously sucks for the poor souls who lose their jobs. Perhaps, only perhaps, it is better for the Business though. But to be honest I was expecting this because of the reason given in the article:
take advantage of the tax credit announced as part of the US government’s Inflation Reduction Act
I was surprised by the (original) mothballing of the North Carolina plant. Even then it seemed to me the key action would be in North America.
Arrival is done at this point. By next week it’ll all be over.
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The concern here would be all of the skills they have developed at the Bicester factory. This feels like a Hail Mary/Longshot. In all interviews I’ve heard with the CEO he seems a very competent operator not prone to snap decisions.
It’s also disappointing they couldn’t access a similar incentive to keep highly skilled manufacturing jobs in this country.
How much cash runway do they now have?
Everything in the US will be 30% higher than it was last year that’s to the FX rates falling.
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I don’t think it will because they account in Dollars anyway - and the customer pays in dollars. Also don’t forget the UPS 10,000 electric vans are for the US market - the plan was to build and ship while the other factory was being built. They then moth balled the North Carolina plant.
To me this (moving to the US) was inevitable after the passing of the US Inflation Reduction Act.
At the end of Q3, the Company had existing funds of approximately $330M cash on hand
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Care to elaborate on that?
I’m pretty skeptical of the microfactory concept, but this should at least a good test of its merits. In theory, all the microfactory is a big flat floor in a warehouse. With the machines small enough to ship, they should be able to move relatively painlessly compared to a full assembly line.
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The process saves a fortune on traditional processes like stamping, welding and painting, but it’s difficult to master, Mike Abelson, CEO of Arrival’s U.S. operations, tells Axios.
- “It’s a Catch-22, …”
For full text read Electric vehicle startups face an uphill climb
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So the Royal Mail trial was a total bust. Glad that we finally have some indirect acknowledgement of that. Moving the plant is just another delay in shutting this company down. I don’t see any positive sides to the story.
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The Royal Mail story was over years ago. It was only ever a mock up & a hope, never had a trial.
UPS are a much much bigger client… Just hope Arrival manages to keep the UPS interest.
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Royal Mail never trialed them, they withdrew long before a viable vehicle even appeared.
I can see their logic behind the decision to concentrate on America, the market there is huge and with the EV grants available next year it could be a gold mine
Whether they make it work or not is the big question
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20% (was 25) in a day is no need to be glum. Unlike some I think this might be clever positioning from a tech unicorn in the UK to a new PM who has more of a clue about tech plus a move to access the US bill money. Playing both sides is smart if they can hold out. Looking forward to the next EC even if it’s a non event.
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Does anyone have thoughts on what to do with Arrival stock now? I’m fairly new to trading and am down 88% on my Arrival stock.
I could sell and just take the loss on the chin, (ouch) but I was wondering if anyone has any positivity to share about the company now? Can anyone still see any success on the horizon?
Is there a chance I could lose the lot due to something I read about the share price being below a dollar for more than a specific time. I am not sure what happens if a delisting happens. I hold several hundred shares which was a fairly large punt for me on a company I honestly thought would do well. Now it all seems a bit gloomy. Any advice greatly welcome.
I’m only 86% down so you must have invested before me 
…
Holding here personally, if you scroll up the thread you’ll see more info re delisting etc…
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Thanks I will have a scroll and see what I can find.
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