Jobs cuts as Arrival turns back on UK for US Autocar HEAD TOPICS

Jobs cuts as Arrival turns back on UK for US Autocar

10/21/2022 2:00:00 PM

Electric van start-up Arrival will cut jobs as it turns its back on the UK to focus on US market

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Autocar

Electric van start-up Arrival will cut jobs as it turns its back on the UK to focus on US market British firm will keep Bicester factory for customer trials but redirect its commercial focus to the US , will instead pour its dwindling cash reserves into its US operation, having previously announced it was pausing expansion there.The main reason for the turnaround is to take advantage of the tax credit announced as part of the US government’s Inflation Reduction Act, or IRA, which is expected to be worth between $7500 (£6660) and $40,000 (£35,530) for electric commercial vehicles, the company said. It also pointed to the “large addressable market size, and substantially better margins” offered in the US. Read more:
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