Arrival UK Ltd (09475811): administration
- Status
- Administration ended
- Administration began
- 2024-02-05
- Administrators
- Alan Michael Hudson, Simon J Edel, Samuel James Woodward
- Administrators' firm
- EY
- Formerly
- Arrival Limited; Charge Automotive Ltd; Charge R&D Limited
- Incorporated
- 2015-03-06
- Location
- London
- Industry
- 72190 Other research and experimental development on natural sciences and engineering
Why it went into administration
- Cash flow / liquidity pressure
- Creditor pressure / legal action
- Funding withdrawn / unable to refinance
- Loss of a key customer, supplier or contract
From the administrators' statement
AUK and its wholly owned subsidiary, AUTO, were incorporated on 6 March 2015 and 1 May 2019, respectively and are ultimately owned by Arrival SA, a NASDAQ listed company, registered in Luxembourg. As at the date of Administration, the Arrival Group had approximately 400 employees globally.
The Companies originally set out to develop a range of purpose-built commercial electric vehicles using flexible and sustainable manufacturing methods. Their vehicle platforms included last-mile delivery vans, intracity buses and ride-sharing passenger cars, backed by proprietary software applications, IP and patents. In 2023, in response to a challenging capital markets environment, it was announced that production would be focused on its Class 4 delivery van (‘the XL Van’), to be sold in the US market. However, at the time of the Joint Administrators’ appointments, production had not commenced and the Companies were prerevenue.
AUK holds the Companies’ IP for the design of electric vehicles and conducted the majority of the Companies’ R&D functions. Its primary assets include IP, the equipment used to support the R&D function, proprietary software and prototype vehicles, with the Arrival Group having invested more than USD 1.5bn in R&D prior to Administration.
Administrators' statement of proposals (2024-04-10) · Companies House register