Arrival just warned investors that it’s slashing its workforce yet again.
The electric van maker said on Tuesday that it “took actions” on October 5 to “further reduce” costs. Those actions include letting go of “up to approximately 25%” of its workers, the company stated in a letter to investors.
Arrival last announced layoffs in January, when it said it would cut its workforce by 50% to around 800 employees. The firm didn’t respond on Tuesday when TechCrunch asked for the number of employees it intends to lay off this time.
Arrival has had its hands in everything from developing electric vans and buses to cars for ride-hailing drivers, but it has yet to announce any commercial vehicle launches.
South Carolina approved Arrival for a $500,000 grant and job development credits in 2020, a spokesperson for the state’s Commerce Department told TechCrunch. The spokesperson said the state intended for the grant to “offset costs related to building improvements in connection with Arrival’s first U.S. electric vehicle micro factory in Rock Hill.” The company must meet certain job and investment commitments by December 3, 2025, or else it’ll “be required to repay a pro rata portion of the grant funds disbursed,” the spokesperson added.
Arrival went public in 2021 by merging with a special purpose acquisition company (SPAC). It’s since restructured several times and pivoted its focus away from the U.K. market to the U.S. It did so, at least in part, to take advantage of Inflation Reduction Act subsidies for commercial vehicle purchases.
Arrival’s current status is a bit of an open question; the company hasn’t shared a quarterly update since publishing its first-quarter results in the middle of May. The firm also recently scaled back its North American headquarters about 30 miles north of Rock Hill — in Charlotte, North Carolina.
Corrected Oct 11 to reflect that Arrival received job development credits in 2020, not 2022.