BlackRock invests $118 million in British EV startup Arrival


Before the latest funding round, Arrival was valued at $3.3 billion by investor website PitchBook.

Arrival has an order for 10,000 electric delivery vans from UPS, with an option for another 10,000.

It is positioned as a potential rival to U.S. startup Rivian, which is backed by Ford Motor Co. and Amazon, among others, and is building 100,000 electric delivery vans for Amazon.

BlackRock also is backing Rivian.

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