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<blockquote data-quote="Weather Man" data-source="post: 16525452" data-attributes="member: 137766"><p><span style="font-size: 22px"><strong>EV startup Arrival steers toward SPAC road</strong></span></p><p>Nov. 17, 2020 2:01 PM ET|About: <a href="https://seekingalpha.com/symbol/BLK" target="_blank">BlackRock, Inc. (BLK)</a>|By: <a href="https://seekingalpha.com/author/sa-editor-clark-schultz" target="_blank">Clark Schultz</a>, SA News Editor </p><p></p><p></p><p>EV bus maker Arrival is reported to be in <a href="https://finance.yahoo.com/news/blackrock-backed-arrival-talks-public-162308884.html?source=news_body_link" target="_blank">talks</a> to combine with blank check firm CIIG Merger Corp.</p><p></p><p>Sources indicate that the enterprise value of the new company will be set at around $5B to $6B.</p><p></p><p>BlackRock (NYSE:<a href="https://seekingalpha.com/symbol/BLK?source=news_body_link" target="_blank">BLK</a>) is one of the investors in Arrival.</p><p></p><p>The maker of electric commercial vans and buses has also raised $111M Hyundai Motor (<a href="https://seekingalpha.com/symbol/HYMLF?source=news_body_link" target="_blank">OTCPK:HYMLF</a>) and sister company Kia Motors (<a href="https://seekingalpha.com/symbol/KIMTF?source=news_body_link" target="_blank">OTCPK:KIMTF</a>), as well as an undisclosed amount from UPS (NYSE:<a href="https://seekingalpha.com/symbol/UPS?source=news_body_link" target="_blank">UPS</a>), which ordered 10K electric delivery vans from Arrival.[ATTACH=full]1672862[/ATTACH]</p><p></p><p>Arrival is positioned as a potential competitor with Rivian Automotive (<a href="https://seekingalpha.com/symbol/RIVN?source=news_body_link" target="_blank">RIVN</a>), which is also backed by BlackRock.</p></blockquote><p></p>
[QUOTE="Weather Man, post: 16525452, member: 137766"] [size=6][b]EV startup Arrival steers toward SPAC road[/b][/size] Nov. 17, 2020 2:01 PM ET|About: [URL='https://seekingalpha.com/symbol/BLK']BlackRock, Inc. (BLK)[/URL]|By: [URL='https://seekingalpha.com/author/sa-editor-clark-schultz']Clark Schultz[/URL], SA News Editor EV bus maker Arrival is reported to be in [URL='https://finance.yahoo.com/news/blackrock-backed-arrival-talks-public-162308884.html?source=news_body_link']talks[/URL] to combine with blank check firm CIIG Merger Corp. Sources indicate that the enterprise value of the new company will be set at around $5B to $6B. BlackRock (NYSE:[URL='https://seekingalpha.com/symbol/BLK?source=news_body_link']BLK[/URL]) is one of the investors in Arrival. The maker of electric commercial vans and buses has also raised $111M Hyundai Motor ([URL='https://seekingalpha.com/symbol/HYMLF?source=news_body_link']OTCPK:HYMLF[/URL]) and sister company Kia Motors ([URL='https://seekingalpha.com/symbol/KIMTF?source=news_body_link']OTCPK:KIMTF[/URL]), as well as an undisclosed amount from UPS (NYSE:[URL='https://seekingalpha.com/symbol/UPS?source=news_body_link']UPS[/URL]), which ordered 10K electric delivery vans from Arrival.[ATTACH=full]1672862[/ATTACH] Arrival is positioned as a potential competitor with Rivian Automotive ([URL='https://seekingalpha.com/symbol/RIVN?source=news_body_link']RIVN[/URL]), which is also backed by BlackRock. [/QUOTE]
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