Arrival Share Price
Despite previously flirting with the $20 mark, the Arrival share price is now at $14.93, down by 25.42% over the past month. The electric vehicles manufacturer has been on a relative dry spell following a series of announcements in the months following its stock Market debut in March, while investors’ interest appears to have cooled.
Arrival Q1 Results
The company confirmed it made an adjusted EBITDA loss of €27m, compared to a loss of €14m during Q1 of 2020. Additionally, its administrative expenses came to €39m, while R&D expenses amounted to €7m. Arrival also spent €41m on capital expenditure during the first quarter of 2021.
“Our Q1 adjusted EBITDA and cash balance are unchanged from what was communicated in our Q1 update on the 13th of May, 2021,” said Denis Sverdlov, CEO and founder of Arrival. “Since this date, we have made substantial progress in vehicle design, testing, sales and Microfactory commissioning in both the UK and the USA. The breadth and quality of our customer engagement has continued to grow and we are excited to see our trials begin with UPS in short order mid-July in the UK.”
STMicroelectronics Collaboration
While it might not be Uber or UPS, Arrival announced a collaboration with STMicroelectronics, a global semiconductor leader serving customers across the spectrum of electronics applications.
The aim is for STMicroelectronics to provide leading-edge semiconductor technologies and products for Arrival’s vehicles including automotive microcontrollers and power and battery-management devices.
“Arrival has chosen ST as one of its key partners in bringing its connected EVs to market. ST’s technology will provide Arrival’s customers with future-proofed zero-emission commercial vehicles as part of an integrated mobility ecosystem,” the company said.
Arrival to Present at Investor Conferences
Finally, Arrival announced that members of its management team will present at two separate virtual investor conferences:
- Edison Group’s “Future of Transportation” Open House on Tuesday, June 15 at 7:00am BST
- The Deutsche Bank Global Auto Industry Conference on Thursday, June 17 at 7:30am ET/12:30pm BST
At both conferences senior members of the company will be making the case to investors keeping their eyes on the Arrival share price.