Arrival raises funds of USD118m from BlackRock Investment Group
By Jim Gibbins - 1st November 2020
UK / USA – Electric vehicle start up, Arrival Ltd* of has attracted investment funding of USD118m to finance its global expansion plans. The funding is through investment management company, BlackRock Investment Group Inc (BlackRock) of New York, USA.
Commenting on this new investment, Denis Sverdlov, Founder and CEO of Arrival, said: “We are excited to welcome BlackRock as a strategic financial investor with its excellent track record in ESG {Environmental, Social & Governance}. This additional capital will be invested into Arrival’s growth, as we deepen and expand our presence in the U.S.A. and other new markets globally. With our new Microfactory in South Carolina, we are looking forward to partnering with more cities and companies to create a sustainable future.”
