Partnership is based on an initial order of 3,000 vans, with the sales agreement expected to be finalised in Q3 2021
AMSTERDAM, NETHERLANDS and LONDON, UK, July 15, 2021 – LeasePlan, one of the world’s leading Car-as-a-Service companies, and Arrival, (NASDAQ: ARVL) the global technology company creating electric vehicles (EVs) with its unique technologies, today announce that LeasePlan will be the preferred operational leasing partner for Arrival electric vans. The partnership is based on an initial order of 3,000 vans, with the sales agreement expected to be finalised in Q3 2021.Tex Gunning, CEO of LeasePlan, said:
“Demand for online shopping is skyrocketing, but this demand has to be met responsibly, and concerns about pollution from delivery vehicles need to be addressed. I’m therefore delighted to be partnering with Arrival, which will see LeasePlan delivering some of the greenest, cleanest and truly innovative eLCVs to our customers. Together we are going to revolutionize the fast-growing eLCV market and make zero emission deliveries part and parcel of the New Normal.” Avinash Rugoobur, President, Arrival, said:
“LeasePlan is not only the world’s largest Car-as-a-Service company, but they have also shown a long-term commitment to carbon footprint reduction as founding members of the EV100 – really putting sustainability on the map long before it was popular. Arrival is thrilled to be partnering with a fellow company leading the charge to accelerate the transition to zero-emissions vehicles, bringing sustainable mobility and cleaner air to cities around the world. This shows Arrival’s method is truly game changing and can roll out in multiple locations rapidly. With this new partnership, Arrival will be able to deepen and expand our presence globally, working with LeasePlan to bring the best possible products to its customers and in turn helping them to achieve their own sustainability goals.”Arrival accelerates the mass adoption of EVs at scale globally by producing affordable commercial vehicles, with a substantially lower Total Cost of Ownership (TCO). This is enabled by Arrival’s unique new method of design and production in rapidly scalable Microfactories which utilises the company’s in-house technologies, including materials, software, hardware and robotics. LeasePlan has a global fleet of approximately 1.9 million vehicles and is one of the world’s leading providers of delivery vans-as-a-service – nearly 1 in every 4 LeasePlan vehicles is an LCV (Light Commercial Vehicle). LeasePlan’s ambition is to achieve net zero emissions from its funded fleet by 2030.
Arrival (NASDAQ: ARVL), a joint stock company (société anonyme) governed by the laws of the Grand Duchy of Luxembourg, 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.
LeasePlan is a global leader in Car-as-a-Service, with approximately 1.9 million vehicles under management in over 30 countries. LeasePlan purchases, funds and manages new vehicles for its customers, providing a complete end-to-end service for a typical contract duration of three to four years. With over 50 years’ experience, LeasePlan's mission is to provide what’s next in sustainable mobility so our customers can focus on what's next for them. Find out more at www.leaseplan.com/corporate
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 Arrival’s ability to enable AD and ADAS features in the Arrival Bus and Van, expectations regarding the mass adoption of EVs, expectations regarding the benefits of the collaboration between Arrival and Ambarella 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.