ARVL Stock: 9 Things to Know About EV Startup Arrival as Shares Move Today

Shares of Arrival (NASDAQ:ARVL) stock are rising fast on Wednesday morning despite a lack of company news. However, words from President Joe Biden on Tuesday have electric vehicle (EV) stocks like Arrival on watch right now.

An electric semi truck charging.

Source: Scharfsinn / Shutterstock.com

What did the president say, and why should ARVL stock investors care? Let’s take a closer look.

  • While on a virtual tour of Proterra’s electric bus plant on Tuesday, Biden had some choice comments regarding the state of the EV market in the U.S.
  • “We have a lot of catching up to do but we’re going to be in a position where we ought to own the future,” he said.
  • The president also stated that the U.S. “ought to be the single most significant suppliers of electric buses and vehicles in the world before it’s over.”
  • He also said that the country’s EV production and supply is way behind China at the moment.
  • That said, Arrival is looking to made a dent in that market after the company went public last month.
  • In its release regarding its Nasdaq listing, the firm said it already has plenty of strong interest in its vehicles.
  • This includes a “commitment to purchase up to 10,000 electric vehicles from United Parcel Service (UPS), plus an option to order up to an additional 10,000.”
  • Moreover, the Arrival Van is expected to begin road trials this summer, with the Bus to start its trials in the fourth quarter of 2021.
  • The, production for the Bus will start in Q4 2021 — with manufacturing of the Van to start in the second half of 2022.

ARVL stock was up 8.6% as of Wednesday morning.

On the date of publication, Nick Clarkson did not have (either directly or indirectly) any positions in the securities mentioned in this article. 

Nick Clarkson is a web editor at InvestorPlace.


Article printed from InvestorPlace Media, https://investorplace.com/2021/04/arvl-stock-9-things-to-know-about-ev-startup-arrival-as-shares-move-today/.

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