5 ms·

British EV maker, once valued at $13B, has gone into bankruptcy

13 points by dsubburam 3y ago

ksec 3y ago
Interesting I thought they were doing quite well, and they had orders from UBS last time I checked on them. And all of a sudden they are now going into bankruptcy? Anyone has any insight to share?
- dsgnr 3y ago
  [dead]
- 15457345234 3y ago
  From their wiki - which paints a familiar looking picture - it seems to be one of those companies that was doing a lot of acquiring/expanding during the pandemic. Oh, look: "In November 2020 ... by merging with special-purpose acquisition company" Gonna say we probably aren't missing much by their absence. It really is all so depressing.
  - IshKebab 3y ago
    How SPACs are legal is beyond me...
janulrich 3y ago
This is about Arrival, the EV Maker that went public in the UK, after receiving orders from UPS and Uber.
rasz 3y ago
long time coming, 2022 https://www.engadget.com/arrival-ices-bus-car-ev-projects-cash-093534294.html https://www.engadget.com/arrival-ices-bus-car-ev-projects-ca... >without making any sales Wow, so they did nothing last two years.
PlutoIsAPlanet 3y ago
Brexit has made car manufacturing in the UK less popular, no one is going to risk putting an investment into a car company in country that purposely puts up trade barriers and doesn't have a big enough domestic market.
- redeeman 3y ago
  isnt that a kinda dishonest presentation of what leaving EU is?
  - aiisdoomed 3y ago
    Brexit is more about taking are country back and your certain that is going well. The NHS is well funded and immigrants are where they belong, are competent doctors nurses and engineers are now swamped in highly paid jobs.
- hacknews20 3y ago
  What on earth - how did you make this about Brexit when the whole EV market is in trouble, and you made it about Brexit. Wow.
  - PlutoIsAPlanet 3y ago
    The linked article mentions brexit...
  - rawTruthHurts 3y ago
    From the article: "But it’s facing challenges with navigating post-Brexit regulations that make British-made EVs significantly more expensive to sell in the EU." Much what on earth. Such wow.
    - rasz 3y ago
      How is "more expensive to sell in the EU" to be blamed in case of a company that hasnt tried to sell anywhere at any price?
advisedwang 3y ago
https://archive.is/LJkfo https://archive.is/LJkfo

13 points by dsubburam 3y ago

ksec 3y ago

Interesting I thought they were doing quite well, and they had orders from UBS last time I checked on them. And all of a sudden they are now going into bankruptcy? Anyone has any insight to share?

dsgnr 3y ago
[dead]
15457345234 3y ago
From their wiki - which paints a familiar looking picture - it seems to be one of those companies that was doing a lot of acquiring/expanding during the pandemic. Oh, look: "In November 2020 ... by merging with special-purpose acquisition company" Gonna say we probably aren't missing much by their absence. It really is all so depressing.
- IshKebab 3y ago
  How SPACs are legal is beyond me...

janulrich 3y ago

This is about Arrival, the EV Maker that went public in the UK, after receiving orders from UPS and Uber.

rasz 3y ago

long time coming, 2022 https://www.engadget.com/arrival-ices-bus-car-ev-projects-cash-093534294.html https://www.engadget.com/arrival-ices-bus-car-ev-projects-ca... >without making any sales Wow, so they did nothing last two years.

PlutoIsAPlanet 3y ago

Brexit has made car manufacturing in the UK less popular, no one is going to risk putting an investment into a car company in country that purposely puts up trade barriers and doesn't have a big enough domestic market.

redeeman 3y ago
isnt that a kinda dishonest presentation of what leaving EU is?
- aiisdoomed 3y ago
  Brexit is more about taking are country back and your certain that is going well. The NHS is well funded and immigrants are where they belong, are competent doctors nurses and engineers are now swamped in highly paid jobs.
hacknews20 3y ago
What on earth - how did you make this about Brexit when the whole EV market is in trouble, and you made it about Brexit. Wow.
- PlutoIsAPlanet 3y ago
  The linked article mentions brexit...
- rawTruthHurts 3y ago
  From the article: "But it’s facing challenges with navigating post-Brexit regulations that make British-made EVs significantly more expensive to sell in the EU." Much what on earth. Such wow.
  - rasz 3y ago
    How is "more expensive to sell in the EU" to be blamed in case of a company that hasnt tried to sell anywhere at any price?

advisedwang 3y ago

https://archive.is/LJkfo https://archive.is/LJkfo