TheGrandWazoo
Veteran Member
While it is British it was founded and is majority owned by a Russian oligarch, Denis Sverdlov, who was Minister for Communications and Mass Media in Putin’s government for a time. Given the current mood and targeting of those in Putin’s inner circle, will it affect Arrival’s funding and prospects going forward?
Thank you for that. I'd picked up on the Korean angle but didn't appreciate that it was a former Putin ally who was the driving force behind it.It's listed on the NASDAQ last March, and Forbes reported at the start of trading that Sverdlov would own 76% and that his stock was valued at $10.6BN.
I know not every Russian is a Putin stooge, far from it, but he was actually in the government in charge of controlling the media...
On a separate note, I can't understand how a company can have orders for 64000 vehicles and not actually have a viable demonstrator never mind a production line.
On a separate note, on a city break at the weekend I had a journey in a VDL Citea electric and what an impressive thing it was, no serious rattles or squeaks, and I wonder why they haven't brought it to the UK. I know VDLs principle (only) major customer in the UK was Arriva because they were the importer but I can't help but feeling the UK is missing out on some decent EVs.
The production line is a bit of an odd one in that they plan to have small production cells rather than conventional factory.