A British electric vehicle company is putting down roots in the U.S. and plans to take its new production concept global as demand for new mobility systems grows.
Arrival, which is developing electric vans and buses, announced last week that it is building a second microfactory in Charlotte, North Carolina. The company plans to assemble vehicles there for a fleet order from United Parcel Service starting in the second half of 2022.
President Avinash Rugoobur told CNBC’s Jim Cramer Monday its vertically integrated microfactories require less space and capital investments than traditional manufacturing facilities.
“We’re partnering with the city of Charlotte to produce a whole transportation ecosystem together,” he said in a “Mad Money” interview. “When you look at the global scale that needs to shift to being electric, we expect to have microfactories, you know, all around the world.”
Arrival is investing more than $41 million into the facility in Charlotte, where its U.S. headquarters is situated.