Why Arrival Could Bankrupt Workhorse | UPS Orders 10,000 Electric Delivery Vehicles From Arrival
Channel: Mr. Money Geek
Date: 2020-10-19

UK Electric Vehicle Maker Arrival Raises $118M From BlackRock As It Gears For US Factory Launch
BlackRock, Inc (NYSE:BLK) has invested $118 million in the United Kingdom-based electric vehicle startup Arrival, which will enable the automaker to open a manufacturing facility in the United States, the latter said in a statement on Wednesday.

What Happened: The investment puts the valuation of the London-based EV company at approximately $3.53 billion, the Financial Times reported.

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