Arrival (NASDAQ: ARVL) stock shot up in pre-market trading on Friday as the electric vehicle company manufactured its first production verification vehicle at its Bicester facility in the UK. The company is also in discussions to raise capital to manufacture and sell its products in the United States, according to a Bloomberg report.
The report stated that Denis Sverdlov, Arrival’s Founder and CEO commented that the completion of its first production verification vehicle indicated that the production concept of micro factories, that is using autonomous robots works instead of a production line.
Bloomberg stated that ARVL didn’t comment on how much capital it was seeking.
