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Benzinga
Benzinga
Business
Shivani Kumaresan

Arrival Reveals Prototype Of Ride Hailing Electric Car

  • Arrival SA (NASDAQ:ARVL) has revealed the first finished prototype of the Arrival Car.
  • The Arrival electric Car has been designed specifically for the ride-hailing industry, partnering with Uber Technologies Inc (NYSE:UBER) drivers.
  • Arrival partnered with Uber to develop a purpose-built electric vehicle (EV) for ride-hailing drivers earlier this year.
  • Arrival said its vehicle has exceptional visibility and comfort - with legroom twice as large as an average car of the same length.
  • The company noted the prototype finished on schedule and is ready for testing in the new year. It plans to incorporate the feedback into the next design phase.
  • "Over the past six months, we have been working closely with Uber's drivers to create a vehicle specifically for the ride hailing industry, and making it affordable, durable and great to look at," said Tom Elvidge, EVP Vehicle Platforms at Arrival.
  • Price Action: ARVL shares are trading higher by 4.05% at $7.70 in premarket on the last check Thursday.
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