British EV maker, once valued at $13B, has gone into bankruptcy | Hacker News Reader

British EV maker, once valued at $13B, has gone into bankruptcy

fortune.com

13 pointsdsubburam14 comments

Brexit has made car manufacturing in the UK less popular, no one is going to risk putting an investment into a car company in country that purposely puts up trade barriers and doesn't have a big enough domestic market.

isnt that a kinda dishonest presentation of what leaving EU is?

Brexit is more about taking are country back and your certain that is going well. The NHS is well funded and immigrants are where they belong, are competent doctors nurses and engineers are now swamped in highly paid jobs.

What on earth - how did you make this about Brexit when the whole EV market is in trouble, and you made it about Brexit. Wow.

The linked article mentions brexit...

From the article:

"But it’s facing challenges with navigating post-Brexit regulations that make British-made EVs significantly more expensive to sell in the EU."

Much what on earth. Such wow.

How is "more expensive to sell in the EU" to be blamed in case of a company that hasnt tried to sell anywhere at any price?

The whole EV market is in trouble? Sales aren’t increasing as fast as they were ( but are still going up ) and some manufacturers are rethinking their individual strategies but I don’t think “sales are up globally year on year” equates to “the whole EV market is in trouble”.

This is about Arrival, the EV Maker that went public in the UK, after receiving orders from UPS and Uber.

Interesting I thought they were doing quite well, and they had orders from UBS last time I checked on them. And all of a sudden they are now going into bankruptcy?

Anyone has any insight to share?

From their wiki - which paints a familiar looking picture - it seems to be one of those companies that was doing a lot of acquiring/expanding during the pandemic.

Oh, look:

"In November 2020 ... by merging with special-purpose acquisition company"

Gonna say we probably aren't missing much by their absence.

It really is all so depressing.

How SPACs are legal is beyond me...

https://archive.is/LJkfo

long time coming, 2022 https://www.engadget.com/arrival-ices-bus-car-ev-projects-ca...

>without making any sales

Wow, so they did nothing last two years.

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