Money Makers Mentor

BlackRock Invests in UK Electric Vehicle Startup, Arrival

US funds manager BlackRock Inc. has invested $118 million in electric vehicle startup Arrival Ltd. The investment is the most Arrival has raised to date. The new investment values the startup at about $3.5 billion.

Arrival is a UK-based electric bus and van maker. Denis Sverdlov founded Arrival in 2015 in London, England, and the company aims to be a leading provider of electric-powered trucks, vans and buses as demand for emission-free vehicles expands.

Arrival has thus far raised an estimated total of $230 million in funding, which includes the recent round from BlackRock. The company received another investment at the beginning of the year from Hyundai Motor Company and Kia Motors Corporation. The investment was worth $110 million. Package delivery and supply chain management com…

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