Arrival moves to slash costs as headwinds for smaller players in the electric vehicle space ramp up, explaining why it's looking to the US for some handouts.
have placed western governments and the European Union under huge pressure to follow suit or lose green investment.
The company added:"When combined with other cost reductions in real estate and third-party spending, the company expects to halve the ongoing cash cost of operating the business to approximately $30m per quarter.He said of the task ahead:"Arrival has developed unique technologies in a market that has huge growth potential and can play a key role in addressing"To unlock these opportunities, we need to make difficult decisions and to take swift action.
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