Yota Founder Denis Sverdlov and Marvel Comic Publisher Peter Cuneo Bring Electric Vehicle Company Arrival to NASDAQ
Teams up with CIIG Merger Corp, SPAC, which is owned by Peter Cuneo, former CEO of Marvel Comics, to enter #nasdaq Arrival. Peter Cuneo’s company is already listed on the stock exchange, and therefore the merger of the two companies will allow Arrival to enter the stock exchange, bypassing several many bureaucratic procedures, because time is money.
According to experts, Denis Sverdlov’s company will be able to attract approximately
With the merger, the managerial positions will practically not change. Arrival founder Denis Sverdlov will remain as CEO, and Peter Cuneo will join the board as non-executive chairman. Arrival shares will be listed on the Nasdaq under the ticker ARVL. The process should be completed by early 2021.
Arrival has a strong competitor in the electric delivery van niche, #rivian. But at the same time, both companies have large orders for this very type of product from Amazon and UPS. Arrival also has strong support from the Korean Hyundai & Kia. In addition to delivery vans, Arrival unveiled its electric bus concept this year, with production starting in late 2021. And until mid-2022, production of the entire line of previously presented products will begin. As mentioned above, production will take place in our own Microfactory. The company plans to open up to four factories, with an area of about 20,000 square meters, each of which will assemble 10,000 electric vans annually.
Once again, we see how what could be successfully implemented in Russia, creating new jobs, increasing the country’s export potential, and not with raw materials, but with high-tech products, is being implemented by our compatriots in Europe and the United States. And you shouldn’t blame them for that. You can be proud of them and rejoice for their successes. The question is why we have not created the so-called «business climate» in which such projects would develop here. Of course, you shouldn’t be so pessimistic. We have very worthy projects, startups, development teams, and even production. But they do not even reach 1/10 of what Denis Sverdlov and Arrival did. Why? There are a number of reasons for this — insufficient availability of long-term investment capital, practically the absence in the required volume of large clients for such equipment. And again, the reasons will be financial resources, as well as inertness of thinking, with difficulty accepting everything new.
In Russia, we are still not going anywhere from the global trend, and the wave of electric mobilization will cover. It would be better to be on the crest of the wave, not under it!
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