Why Arrival Shares Are Rising

Arrival SA ARVL shares are trading higher by 7.4% at $7.95 after the company revealed the first finished prototype of the Arrival Car.

"This is a key milestone for Arrival and we're thrilled today to be releasing the first look at the Arrival Car. Over the past six months, we have been working closely with Uber's drivers to create a vehicle specifically for the ride hailing industry, and making it affordable, durable and great to look at," said Tom Elvidge, EVP Vehicle Platforms at Arrival.

"Electrifying ride-hailing will play a crucial role in reducing the emissions of vehicles in cities globally, providing a sustainable, clean multi-modal transportation system for communities. We are keen on supporting drivers with this transition by developing the best possible product for ride hailing that elevates the experience for both them and their passengers, making urban air clean in the process," Elvidge stated.

See Also: Why Adobe Shares Are Falling

Arrival focuses on the design, assembly, and distribution of commercial electric vehicles (EVs) worldwide.

Arrival has a 52-week high of $34.43 and a 52-week low of $6.87.