Arrival (NASDAQ: ARVL) shares were up 24.82% in pre-market trading at $0.9831 following a significant milestone achievement. ARVL stock closed the last session at $0.79, declining -7.00% or -$0.06.
What milestones has ARVL achieved?
As part of the company’s Bicester Microfactory expansion, Arrival (ARVL) has announced the production of its first verification vehicle.
- In terms of architecture and design, ARVL was one of the first companies in the world to manufacture a Van in a Microfactory using in-house technologies such as composite materials, autonomous mobile robots, in-house components, and software-defined manufacturing techniques.
- This milestone signifies a major step towards the production of vehicles at scale and the delivery of vehicles to customers in the near future.
- Using a new method that does not employ a traditional assembly line, ARVL has built the first vehicle in its Microfactory for the first time in history.
- Although ARVL has not yet achieved serial production, it is focused on making it happen. In order to master at-scale production, ARVL will continue to manufacture vehicles in its Microfactory.
- Even though ARVL had initially imagined it would be more challenging, its team’s efforts, technologies, and innovative breakthroughs have enabled them to succeed.
What makes ARVL stand tall?
AVRL aims to create the best electric car in the world by mastering a radically more efficient New Method for designing, producing, selling, and servicing it because it wants cities free of fossil fuels. ARVL has developed a unique method of producing vehicles using rapidly scalable, local Microfactories utilizing in-house technologies. In addition to facilitating the achievement of sustainability goals for cities and governments, this method is capable of supercharging the communities as well. ARVL can have a radical impact on the world today through the vertically integrated business model that it has adopted.
How ARVL will be moving ahead?
As opposed to being sold to customers, Arrival (ARVL) will continue testing, validating, and quality-controlling its Arrival Vans produced in the Microfactory in Bicester, UK, this year. During its Q3 earnings webinar, scheduled for Tuesday, 8th November 2022, ARVL will provide additional information.