Arrival Due Diligence report.

  • 2022E: $1 billion, implying an EV/Sales multiple of 5.4x.
  • 2023E: $5 billion, implying an EV/Sales multiple of 1.08x.
  • 2024E: $14.1 billion, implying an EV/Sales multiple 0.4x.
  • Its patented low CapEx microfactories that could ramp up its expansion to key areas, starting in the UK and USA.
  • Arrival already has a contracted order book worth of $1.2 billion.
  • The EV sector has been around for a decade and most often they still cost too much. Arrival could change this by making a product that’s green without paying too much.
  • Arrival has a weight advantage, using composite material, which is much lighter than the traditional steel used in the industry and therefore could double their payload relative to other EV companies.
  • Arrival got traction from various postal service companies such as UPS, DHL and Royal Mail that are currently testing Arrival’s vehicles and UPS being the first, ordering 10,000 units.
  • BlackRock.
  • Energy Transition Fund.
  • Fidelity Management & Research Company.
  • BNP Paribas Asset Management.
  • UPS.
  • Kia Motors.
  • Hyundai.
  • The transaction may not be completed in a timely manner or at all, which may adversely affect the share price of CIIG Merger Corp.
  • Changes in the competitive and highly regulated industries in which Arrival operates could affect its business.
  • Their microfactories may not provide the expected results. As a result, this could negatively affect Arrival’s operational business.
  • The orders that already have been made could still get modified or cancelled.
  • Canoo.
  • Fisker.
  • Nikola.
  • Workhorse.
  • Hyliion.
  • Rivian.
  • Denis Sverdlov: Founder & CEO who had a successful $1.5 billion previous exit and invested $26 million in Arrival from his own venture firm ‘’Kinetik’’.
  • Avinash Rugoobur: President who was former Head of Strategy for GM Cruise Automa.
  • Mike Ableson: CEO automotive who worked for GM and has over 35 years experience in the auto industry.

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