Arrival’s entire vehicle portfolio, including its Van, Bus, and recently announced Car, will feature ST’s technologies
Collaboration includes products dedicated to processing, power and battery management
GENEVA, SWITZERLAND and LONDON, UK, June 24, 2021 – STMicroelectronics (“ST”) (NYSE: STM), a global semiconductor leader serving customers across the spectrum of electronics applications, announced its collaboration with Arrival (NASDAQ: ARVL), the global technology company creating electric vehicles (EVs) using its unique technologies, to provide leading-edge semiconductor technologies and products for Arrival’s vehicles including automotive microcontrollers and power and battery-management devices.Arrival has chosen ST as one of its key partners in bringing its connected EVs to market. ST’s technology will provide Arrival’s customers with future-proofed zero-emission commercial vehicles as part of an integrated mobility ecosystem. Arrival has selected ST’s high-performance, secure automotive microcontrollers for their modular ECU platform, as well as other ST technologies including smart-power and battery-management devices for efficient vehicle electrification.Arrival believes its vehicles represent the next generation of EVs having been developed from the ground up using a radical new method of design and production. This vertically integrated approach using in-house developed hardware, software and robotics enables production in decentralised Microfactories. These Microfactories can be deployed around the world to service demand and supercharge local communities by hiring local talent, utilising local supply chains, and paying local taxes.Arrival’s entire vehicle portfolio, including its Van, Bus, and recently announced Car, which is being designed in partnership with Uber for ride-hailing, will feature ST’s technologies. Arrival has already secured a commitment to purchase from UPS for up to 10,000 electric vehicles, with the option for 10,000 more, and will see trials of its vehicles starting later this year.“We have been working with Arrival since their early stages, and we are proud of the journey accomplished together as they head towards production,” said Michael Anfang, Executive Vice President, Sales & Marketing, Europe, Middle East and Africa Region at STMicroelectronics. “ST is a broad-based technology supplier for the mobility industry’s transition to electrified and digitalized platforms. This collaboration with a leading new entrant on the market is a testament to our ability to support various operating models. Arrival’s vehicles using ST technology will be an additional step towards our shared vision of cleaner mobility”.“STMicroelectronics are producing some of the best technology on the market today. At Arrival, choosing the most advanced technologies for our vehicles is crucial to extending the life of our products, improving their value whilst making them even more sustainable by extending their usable life,” said Sergey Malygin, EVP of Technology at Arrival.
At ST, we are 46,000 creators and makers of semiconductor technologies mastering the semiconductor supply chain with state-of-the-art manufacturing facilities. An independent device manufacturer, we work with more than 100,000 customers and thousands of partners to design and build products, solutions, and ecosystems that address their challenges and opportunities, and the need to support a more sustainable world. Our technologies enable smarter mobility, more efficient power and energy management, and the wide-scale deployment of the Internet of Things and 5G technology. Further information can be found at www.st.com.
Arrival (NASDAQ: ARVL) is reinventing the automotive industry with its entirely new approach to the design and assembly of electric vehicles. Low CapEx, rapidly scalable Microfactories combined with proprietary in-house developed components, materials and software, enable the production of best in class vehicles competitively priced to fossil fuel variants and with a substantially lower total cost of ownership. This transformative approach provides cities globally with the solutions they need to create sustainable urban environments and exceptional experiences for their citizens. Arrival is a global business founded in 2015 and headquartered in London, UK and Charlotte, North Carolina, USA, with more than 1,900 global employees located in offices across the United States, Germany, the Netherlands, Israel, Russia, and Luxembourg. The company is deploying its first four microfactories in North Carolina, USA, South Carolina, USA, Bicester, UK and Madrid, Spain.
Forward Looking Statements
This press release contains certain forward-looking statements within the meaning of the federal securities laws, including statements regarding the products offered by Arrival and the markets in which it operates, Arrival’s ability to produce electric commercial vehicles, expectations regarding the benefits of the collaboration between Arrival and ST and expectations regarding the benefits of Arrival’s Microfactories. These forward-looking statements generally are identified by the words “believe,” “project,” “expect,” “anticipate,” “estimate,” “intend,” “strategy,” “future,” “opportunity,” “plan,” “may,” “should,” “will,” “would,” “will be,” “will continue,” “will likely result,” and similar expressions. Such statements are made pursuant to the safe harbor provisions of the Private Securities Litigation Reform Act of 1995 and are based on management’s belief or interpretation of information currently available. Forward-looking statements are predictions, projections and other statements about future events that are based on current expectations and assumptions and, as a result, are subject to risks and uncertainties. Many factors could cause actual future events to differ materially from the forward-looking statements in this document, including, but not limited to: (i) the impact of COVID-19 on Arrival’s business; (ii) the risk of downturns and the possibility of rapid change in the highly competitive industry in which Arrival operates, (iii) the risk that Arrival and its current and future collaborators are unable to successfully develop and commercialize Arrival’s products or services, or experience significant delays in doing so, (iv) the risk that Arrival may never achieve or sustain profitability; (v) the risk that Arrival experiences difficulties in managing its growth and expanding operations, (vi) the risk that third-parties suppliers and manufacturers are not able to fully and timely meet their obligations; (vii) the risk that the utilization of Microfactories will not provide the expected benefits due to, among other things, the inability to locate appropriate buildings to use as Microfactories, Microfactories needing a larger than anticipated factory footprint, and the inability of Arrival to deploy Microfactories in the anticipated time frame; (viii) the risk that the orders that have been placed for vehicles, including the order from UPS, are cancelled or modified; (ix) the risk of product liability or regulatory lawsuits or proceedings relating to Arrival’s products and services; and (x) the risk that Arrival will need to raise additional capital to execute its business plan, which may not be available on acceptable terms or at all; and (xi) the risk that Arrival is unable to secure or protect its intellectual property. The foregoing list of factors is not exhaustive. You should carefully consider the foregoing factors and the other risks and uncertainties described in the “Risk Factors” section of Arrival’s annual report on Form 20-F filed with the U.S. Securities and Exchange Commission (the “SEC”) on April 30, 2021 and other documents filed by Arrival with the SEC from time to time. Readers are cautioned not to put undue reliance on forward-looking statements, and Arrival assumes no obligation and does not intend to update or revise these forward-looking statements, whether as a result of new information, future events, or otherwise. Arrival does not give any assurance that Arrival will achieve its expectations.