British startup Arrival has suspended work on the electric bus and electric car, the Financial Times has found. The company is going to reduce costs by a third and will focus on the production of an electric van to start generating income.

Denis Sverdlov’s British startup Arrival has put the creation of an electric bus and electric car on hold.

The company plans to start van production this fall. To save money, Arrival also announced plans in July to cut 30% of its staff.

The company showed the first van in March 2021. The electric bus project was first presented in June 2020, the prototype appeared in November 2021.

The development of the electric vehicle lags behind the electric van and bus. Work on it can be resumed when the Arrival begins to receive income, said one of the FT interlocutors. The electric car is being developed in conjunction with Uber, especially for long trips and to transport a large number of passengers.

Arrival was founded by former head of mobile operator Yota and former Russian Deputy Communications Minister Denis Sverdlov. His net worth after Arrival went public was $10.6 billion, according to Forbes.

Since the beginning of Russia’s special military operation in Ukraine, Sverdlov has lost his status as a dollar billionaire.

Author:

anastasia mariana

Source: RB

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I am Bret Jackson, a professional journalist and author for Gadget Onus, where I specialize in writing about the gaming industry. With over 6 years of experience in my field, I have built up an extensive portfolio that ranges from reviews to interviews with top figures within the industry. My work has been featured on various news sites, providing readers with insightful analysis regarding the current state of gaming culture.

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