USA / UK – Commercial vehicle manufacturer, Arrival Ltd* of London, UK, which has been in financial turmoil for quite some time, is banking on huge U.S. subsidies from the Inflation Reduction Act to drive American demand as well as a second reverse merger, to give it a second shot at survival. The company has announced it is set to receive a USD 283 million cash injection after a merger with New York-based special-purpose acquisition company (SPAC), Kensington Capital Acquisition Corp. Arrival has said that this injection will allow the company to focus on the development of its Class 4 medium-duty delivery van.

In a statement, the company now aims to begin producing its medium-duty XL Van at a "microfactory" in Charlotte, North Carolina, by late 2024. Arrival has so far made three prototypes of its smaller L Van at its Bicester plant in the United Kingdom, which is being road-tested to aid the development of the larger, more expensive model. Arrival remains optimistic that the Inflation Reduction Act subsidies in the U.S. will encourage a rise in demand for its vehicles throughout the American market.