The EV startup burned through $800 million by the middle of 2018 and was seeking an installment of $700 million from Evergrande as operating cash for the remainder of the year, which was expected to see the start of production for the FF 91. Evergrande allegedly refused to provide the $700 million, which triggered the arbitration that is being conducted in Hong Kong.....
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Hyundai, Kia, Arrival, electric delivery vans
Hyundai, Kia, Arrival, electric delivery vans
Hyundai and Kia are backing Arrival, a startup British maker of electric delivery vans, a good use case for EVs. Hyundai and Kia announced Thursday that they are investing $111.5 million in Arrival, a startup British automaker building electric delivery vans. The three companies will jointly develop vehicles and share know-how as Arrival scales up its operations and moves to put a vehicle on the market in the next few years.
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