Arrival (NASDAQ: ARVL) provided its second-quarter update Thursday, and it indicated the electric vehicle company is working as hard to stay afloat as it is to get its products into production. Arrival told investors it remains on track to begin production of electric vans at its facility in the U.K. in the current quarter, and said it has about $6 billion in non-binding memorandums of understanding and orders if all are completed. Maybe most impactful for shareholders, the company plans to sell another $300 million in stock that will significantly dilute existing shareholders.
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Reaffirms start of production this quarter in BicesterATM platform established to access additional capitalMOUs and Orders worth over $6b in potential revenue LUXEMBOURG, Aug. 11, 2022 (GLOBE NEWSWIRE) -- Arrival (NASDAQ: ARVL), inventor of a unique new method of design and production of equitable electric vehicles (EVs) by local Microfactories, today reported financial results for the second quarter ended June 30, 2022. “We have had big achievements in Q2 including the European certification of