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ΑΓΓΙΨAL Arrival Reports Second Quarter 2021 Financial Results August 12 , 2021 Significant increase in non - binding Orders and LOIs to 59k¹ vehicles Completed redemption of public warrants with gross proceeds of c . $ 141 million Announced new Indian R & D engineering facility following significant customer demand Rockhill Microfactory over 80 % and Bicester over 75 % of equipment ordered / delivered LUXEMBOURG , Aug. 12 , 2021 ( GLOBE NEWSWIRE ) -- Arrival ( NASDAQ : ARVL ) , pioneer of a unique new method of design and production of affordable electric vehicles ( EVS ) by local Microfactories , today reported financial results for the second quarter ended June 30 , 2021 . " We are delighted to have announced our current non - binding Orders and LOIs total c.59k¹ vehicles with the most recent addition in India for our Bus platform , " said Denis Sverdlov , CEO and founder of Arrival . " This highlights the tremendous growth we are experiencing at Arrival and is a further validation of our vehicle portfolio , unique technologies and new method of producing EVs . In addition to this we have announced important partnerships with Microsoft , Hitachi , Ambarella and STMicroelectronics , which are all key to enhancing our vehicle offering and the complete ecosystem we are building at Arrival . Finally we have provided a detailed roadmap for each of our bus and van platforms with specific milestones highlighted between now and the start of production for each so that investors can closely track our progress in the coming quarters . " Business Highlights : • Announced initial order¹ of 3,000 vans from Leaseplan with the company selected as the preferred operational leasing partner for Arrival electric vans in Europe . Leaseplan has a global fleet of 1.9 million vehicles and is one of the world's leading providers of delivery vans - as - a - service • Announced landmark bus order for 5 buses from Anaheim , California , USA utilising a $ 2 million federal grant • Strong demand in multiple regions as evidenced by continued increase in LOls for both bus and van since Q1 2021 • UPS trials ongoing with positive feedback received from proving ground trials and depot driver evaluations • Public road trials to commence in Q1 2022 for both the van and bus with UPS and First Bus , respectively ● Partnership with Uber progressing well with several other ride hailing companies expressing an interest in partnering with Arrival on this initiative • Bicester microfactory progressing ahead of plan with composite production lines installed ; Microfactory capex forecasts continue to be on track as per original targets • Charlotte , North Carolina van microfactory site identified and the leased building is due to complete construction in October of this year with equipment to be ordered in 2022 • Announced new Indian R & D engineering centre as first foray into Indian market on back of government interest and customer demand resulting in LOIS • Over 500 composite panels already manufactured using production equipment in Bicester and completed manufacture of more than 1,400 high voltage battery modules to date • Arrival's Automated Driving System completed a live demonstration at a parcel depot without a human driver inside the Arrival Van • Announced the hire of John Wozniak as CFO who takes over from interim CFO Tim Holbrow . Tim has been an invaluable leader in Arrival's team and will continue in a senior leadership role as SVP Strategic Finance Recent Partnerships : • Announced partnership with Microsoft to create an open data platform to maximise insights from vehicle data collection • Partnered with Hitachi Europe to deliver new bus and infrastructure solutions to the European Bus industry • Announced a collaboration with STMicroelectronics where their products dedicated to processing , power and battery management are expected to be featured across Arrival's entire vehicle portfolio • Partnered with Ambarella to deliver advanced driver assistance systems ( ADAS ) ¹Source : Company estimates as of August 2021 - LOIs include UPS option for additional 10k vehicles and Leaseplan partnership which is subject to completion of final documentation expected in Q3 2021. All references to orders and LOls are non - binding and subject to cancellation or modification at any time Second Quarter 2021 Financial Results : • EBITDA loss of € 29 million , compared to a loss of € 12 million in the second quarter of 2020 ● Adjusted EBITDA loss of € 35 million , compared to a loss of € 12 million in the second quarter of 2020 • Administrative expenses of € 35 million and not capitalised R & D expenses of € 6 million ( Q2 2020 : Administrative expenses of € 10 million and not capitalised R & D expenses of € 4 million ) • Capital expenditure of € 65 million in the second quarter of 2021 ( Q2 2020 : € 20 million ) • Cash and cash equivalents of € 445 million as of June 30 , 2021 ; includes € 58 million from the public warrant redemption process with an additional c . € 60 million to come