Arrival will run out of money next year if it doesn’t find an alternative source of credit, German bank Berenberg has said.
The British EV start-up has been hit by the sell-off in tech stocks currently affecting the US market and has seen the value of its shares fall by 90% since it listed via a special purpose acquisition company last May.
Arrival will have between $150 million and $250m (£121m and £201m) of cash left by the end of this year, Berenberg said in an analyst note, citing Arrival’s own figures.
“That's not enough to fund our expected 2023E [estimated] cash burn,” Berenberg analyst Michael Filatov said.
