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Electric van maker Arrival receives desperately needed cash to stay afloat
Arrival, an electric van manufacturer, has announced it received $300 million to help stay afloat as it works towards production.
Arrival, along with General Motors, Ford, Rivian, and Canoo, is attempting to cease the moment of high demand for electric vans. Thus far, the Ford E-Transit and Rivian electric delivery van remain the most popular, but Arrival is working to change that. But as the company has run into financial troubles, it has now received $300 million in funding to stay afloat, according to Reuters.
Arrival’s financial troubles became apparent last year when the company’s CEO announced it was unclear if the automaker had enough money to make it past the end of 2023. Hence, it announced a series of dramatic cost-cutting measures. Arrival has since cut its headcount significantly and increasingly focused itself on a single goal: the Arrival Van production.
The electric van that Arrival hopes to bring to market had its production debut in the second half of 2022 when the company made its first “production verification model.” Since then, the company has been preparing its “microfactory” for mass production.
Strangely, Arrival will not be using the $300 million acquired this week to fund this production but instead to help fund the continuation of the business overall as it searches for more capital. According to Reuters, the company will be meeting with shareholders in the near future to address a possible reverse stock split that would ensure it meets current NASDAQ listing requirements.
As per Arrival’s most recent financial reporting, the company had just over $205 million in cash and cash equivalents. The company aims to drop its losses to $35 million per quarter by the second half of this year.
While the electric van maker’s future seems particularly bleak, Arrival is not the only company that has faced bankruptcy. Canoo, perhaps the best success story in the industry, was looking at the end of its business at the end of 2022 but has since garnered thousands of orders and is now establishing multiple manufacturing centers in Oklahoma.
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Tesla exec: Preparations underway but no firm timeline yet for FSD rollout in China
The information was related by Tesla China Vice President Grace Tao in a comment to local media.
Tesla has not set a specific launch date for Full Self-Driving in China, despite the company’s ongoing preparations for a local FSD rollout.
The information was related by Tesla China Vice President Grace Tao in a comment to local media.
Tesla China prepares FSD infrastructure
Speaking in a recent media interview, the executive confirmed that Tesla has established a local training center in China to support the full adaptation of FSD to domestic driving conditions, as noted in a report from Sina News. However, she also noted that the company does not have a specific date when FSD will officially roll out in China.
“We have set up a local training center in China specifically to handle this adaptation,” Tao said. “Once officially released, it will demonstrate a level of performance that is no less than, and may even surpass, that of local drivers.”
Tao also emphasized the rapid accumulation of data by Tesla’s FSD system, with the executive highlighting that Full Self-Driving has now accumulated more than 7.5 billion miles of real-world driving data worldwide.
Possible 2026 rollout
The Tesla executive’s comments come amidst Elon Musk’s previous comments suggesting that regulatory approval in China could arrive sometime this 2026. During Tesla’s annual shareholder meeting in November 2025, Musk clarified that FSD had only received “partial approval” in China, though full authorization could potentially arrive around February or March 2026.
Musk reiterated that timeline at the World Economic Forum in Davos, when he stated that FSD approval in China could come as early as February.
Tesla’s latest FSD software, version 14, is already being tested in more advanced deployments in the United States. The company has also started the rollout of its fully unsupervised Robotaxis in Austin, Texas, which no longer feature safety monitors.
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Tesla Semi lines up for $165M in California incentives ahead of mass production
The update was initially reported by The Los Angeles Times.
Tesla is reportedly positioned to receive roughly $165 million in California clean-truck incentives for its Semi.
The update was initially reported by The Los Angeles Times.
As per the Times, the Tesla Semi’s funding will come from California’s Hybrid and Zero-Emission Truck and Bus Incentive Project (HVIP), which was designed to accelerate the adoption of cleaner medium- and heavy-duty vehicles. Since its launch in 2009, the HVIP has distributed more than $1.6 billion to support zero-emission trucks and buses across the state.
In recent funding rounds, nearly 1,000 HVIP vouchers were provisionally reserved for the Tesla Semi, giving Tesla a far larger share of available funding than any other automaker. An analysis by the Times found that even after revisions to public data, Tesla still accounts for about $165 million in incentives. The next-largest recipient, Canadian bus manufacturer New Flyer, received roughly $68 million.
This is quite unsurprising, however, considering that the Tesla Semi does not have a lot of competition in the zero-emissions trucking segment.
To qualify for HVIP funding, vehicles must be approved by the California Air Resources Board and listed in the program catalog, as noted in an electrive report. When the Tesla Semi voucher applications were submitted, public certification records only showed eligibility for the 2024 model year, with later model years not yet listed.
State officials have stated that certification details often involve confidential business information and that funding will only be paid once vehicles are fully approved and delivered. Still, the first-come, first-served nature of HVIP means large voucher reservations can effectively crowd out competing electric trucks. Incentive amounts for the Semi reportedly ranged from about $84,000 to as much as $351,000 per vehicle after data adjustments.
Unveiled in 2017, the Tesla Semi has seen limited deliveries so far, though CEO Elon Musk has recently reiterated that the Class 8 all-electric truck will enter mass production this year.
Elon Musk
Tesla reveals major info about the Semi as it heads toward ‘mass production’
Some information, like trim levels and their specs were not revealed by Tesla, but now that the Semi is headed toward mass production this year, the company finally revealed those specifics.
Tesla has revealed some major information about the all-electric Semi as it heads toward “mass production,” according to CEO Elon Musk.
The Semi has been working toward a wider production phase after several years of development, pilot programs, and the construction of a dedicated production facility that is specifically catered to the manufacturing of the vehicle.
However, some information, like trim levels and their specs were not revealed by Tesla, but now that the Semi is headed toward mass production this year, the company finally revealed those specifics.
Tesla Semi undergoes major redesign as dedicated factory preps for deliveries
Tesla plans to build a Standard Range and Long Range Trim level of the Semi, and while the range is noted in the company’s newly-released spec list, there is no indication of what battery size will be equipped by them. However, there is a notable weight difference between the two of roughly 3,000 lbs, and the Long Range configuration has a lightning-fast peak charging speed of 1.2 MW.
This information is not available for the Standard Range quite yet.
The spec list is as follows:
- Standard Range:
- 325 miles of range (at 82,000 lbs gross combination weight
- Curb Weight: <20,000
- Energy Consumption: 1.7 kWh per mile
- Powertrain: 3 independent motors on rear axles
- Charging: Up to 60% of range in 30 minutes
- Charge Type: MCS 3.2
- Drive Power: Up to 800 kW
- ePTO (Electric Power Take Off): Up to 25 kW
- Long Range:
- Range: 500 miles (at 82,000 lbs gross combination weight)
- Curb Weight: 23,000 lbs
- Energy Consumption: 1.7 kWh per mile
- Powertrain: 3 independent motors on rear axles
- Charging: Up to 60% of range in 30 minutes
- Charge Type: MCS 3.2
- Peak charging speed: 1.2MW (1,200kW)
- Drive Power: Up to 800 kW
- ePTO (Electric Power Take Off): Up to 25 kW
It is important to keep in mind that the Semi is currently spec’d for local runs, and Tesla has not yet released or developed a sleeper cabin that would be more suitable for longer trips, cross-country hauls, and overnight travel.
Tesla Semi sleeper section and large side storage teased in new video
Instead, the vehicle will be initially used for regional deliveries, as it has in the pilot programs for Pepsi Co. and Frito-Lay for the past several years.
It will enter mass production this year, Musk confirmed on X over the weekend.
Now that the company’s dedicated Semi production facility in Sparks, Nevada, is standing, the timeline seems much more realistic as the vehicle has had its mass manufacturing date adjusted on several occasions.