ROME and LONDON, June 17, 2022 (GLOBE NEWSWIRE) — Enel X, Enel’s subsidiary dedicated to innovative products and services, in collaboration with Arrival (NASDAQ: ARVL), pioneering a unique new method of design and production of fair-trade electric vehicles (EVs) by local micro-factories, entered into a partnership to test the zero-emission battery-electric bus in Italy. The objective is to promote the growth of electrified public transport throughout the world thanks to ever more efficient and competitive solutions. The tests will be carried out by Enel X based on an analysis matrix developed internally, to examine all the main characteristics of the incoming bus. The tests will be carried out in Italy, at the Vallelunga circuit, where the advanced charging services and solutions of Enel X Way will also be used to charge the vehicles. The success of these tests will be a key element for Enel to include the inbound bus in its portfolio of global electrification solutions.
“Partnering with Arrival is another important step towards achieving our global public transport electrification goals. Public transport authorities face significant challenges in making cities smarter and more sustainable, and by offering our public transport solutions along with our many years of global experience, we want to provide strong support to make this a reality,” said Francesco VenturiniCEO of Enel X. “Arrival buses look very promising. It is a technologically advanced means of transport which, if incorporated into our value offering, can potentially offer operators and end users the best possible customer experience.”
“We are very pleased to partner with Enel X and Enel X Way to help bus operators and cities around the world accelerate the transition to electric vehicles, bringing cleaner air to our cities,” said Avinash Rugoobur, President of Arrival. “Our electric bus aims to set new standards in passenger experience while reducing costs for operators. By manufacturing our vehicles in local micro-factories, we are supporting a fair global green transition, creating jobs for local communities, using local suppliers and building vehicles designed for local markets.”
The partnership will allow Enel X to strengthen its offer to public transport authorities globally, giving a major boost to Enel’s goal of more than 20,000 electric buses served by 2030. Today, Enel X is the world’s largest provider of electric bus solutions outside of China. . It currently operates more than 3,200 e-Buses worldwide. Enel X’s e-bus solution is modular and customizable to specific customer needs and is offered through different business models which include rental options, among others. It includes a wide variety of products and services, including a complete end-to-end turnkey service (“e-Bus as a Service”). The complete turnkey solution can include: full design support, vehicles, financing options, battery leasing (“Battery as a Service”), customized management system platforms (including internally developed smart charging), charging infrastructure solutions provided by Enel X Way, construction of depots, renewable energy sources, integration of virtual power plants, including demand response programs and smart mobility services.
Arrival recently passed a key EU certification milestone and received European Whole Vehicle Type Approval (EUWVTA), marking a critical step towards arrival buses carrying passengers on public roads in the UK United and Europe. The demand for zero-emission technologies is growing globally, driven by consumers, governments and investors. The company wants to drive a green transition and make its cities better places to live, by developing truly sustainable and equitable mobility ecosystems, creating clean air for communities around the world.
Arrival was founded in 2015 with a mission to clean the air by replacing all vehicles with fair trade electric solutions – produced by local micro-factories. Six years and more than 2,000 people later, we are driving the transition to electric vehicles globally, creating zero-emission products that are more desirable, more sustainable and more equitable than ever before. Our in-house technologies enable our radical new method of design and production using rapidly scalable local micro-factories around the world. This method helps cities and governments achieve their sustainability goals while energizing their communities. We are a technology company, a product company, a supply chain company, an automotive company, a mobility company, a fintech company and a service company – all brought together with a common goal of true sustainability. This vertically integrated business model allows us to have the radical impact our world needs today. Arrival (NASDAQ: ARVL) is a Luxembourg limited company.
Enel X Global Retail is the global business line of the Enel group that offers services to accelerate innovation and drive the energy transition. A world leader in advanced energy solutions, Enel X Global Retail manages services such as demand response for approximately 6.6 GW of total capacity worldwide and 59 MW of installed behind-the-meter storage capacity worldwide . Through its advanced solutions, including energy management and financial services, Enel X Global Retail provides each partner with an intuitive and personalized ecosystem of technology platforms and consulting services, focused on the principles of sustainability and circular economy in order to provide people, communities, institutions and businesses with an alternative model that respects the environment and integrates technological innovation into daily life. Each solution has the power to transform decarbonization, electrification and digitalization goals into sustainable actions for all, in order to build a more sustainable and efficient world together.
Ener X Way is the new global commercial line of the Enel group entirely dedicated to electric mobility. Currently, Enel X Way manages nearly 350,000 charging stations, both directly and through interoperability agreements in place worldwide. As a global platform for e-Mobility, the company is focused on developing flexible charging technologies and solutions to improve the customer experience by supporting the electrification of transport for consumers, businesses, cities and public administrations.
This press release contains certain forward-looking statements within the meaning of the federal securities laws, including statements regarding the products offered by Arrival and the markets in which it operates and the projected future results of Arrival. These forward-looking statements are generally identified by the words “believe”, “project”, “expect”, “anticipate”, “estimate”, “intend”, “strategy”, “future”, “opportunity “, “plan,” “may,” “should,” “will,” “would,” “will,” “will,” “will likely,” and similar expressions. These statements are made pursuant to the safe harbor provisions of the Private Securities Litigation Reform Act of 1995 and are based on management’s belief or interpretation of information currently available. Forward-looking statements are predictions, projections and other statements about future events that are based on current expectations and assumptions and, therefore, are subject to risks and uncertainties. Many factors could cause actual future events to differ materially from the forward-looking statements contained herein, including, but not limited to: (i) the impact of COVID-19 on Arrival’s business; (ii) the risk of downturns and the possibility of rapid change in the highly competitive industry in which Arrival operates, (iii) the risk that Arrival and its current and future collaborators may not be able to develop and market with success with Arrival’s products or services, or experiencing significant delays in doing so; (iv) the risk that Arrival will never achieve or maintain profitability; (v) the risk that Arrival may experience difficulty in managing its growth and expansion; (vi) the risk that third-party suppliers and manufacturers may not be able to fully and timely fulfill their obligations; (vii) the risk that the use of micro-factories will not provide the expected benefits due to, among other things, the inability to locate suitable buildings to use as micro-factories, micro-factories requiring a footprint of plant larger than expected and Arrival’s inability to deploy Micro-factories on schedule; (viii) the risk that orders placed for vehicles, including the order with UPS, will be canceled or changed; (ix) the risk of product liability or regulatory lawsuits or proceedings relating to Arrival’s products and services; and (x) the risk that Arrival may need to raise additional capital to execute its business plan, which may not be available on acceptable terms or at all; and (xi) the risk that Arrival may not be able to secure or protect its intellectual property. The foregoing list of factors is not exhaustive. You should carefully consider the foregoing factors and the other risks and uncertainties described in the “Risk Factors” section of Arrival’s Annual Report on Form 20-F filed with the United States Securities and Exchange Commission (the “SEC ”) on April 30, 2022 and other filings by Arrival with the SEC from time to time. Readers are cautioned not to place undue reliance on any forward-looking statements, and except as required by applicable law, Arrival undertakes no obligation and does not intend to update or revise such forward-looking statements, whether whether as a result of new information, future events, or otherwise. Arrival does not guarantee that Arrival will meet its expectations.