- UPS commits to purchasing 10,000 of Arrival’s vehicles – purpose built for UPS
- Both companies are co-developing electric delivery vehicles for UPS
- Advanced vehicle controls create new functionality
- Equity investment gives UPS early access to Arrival’s vehicles
- Arrival is the first commercial vehicle manufacturer to provide purpose-built electric delivery vehicles to UPS’s specifications and with a production strategy for global scale
UPS (NYSE:UPS) today said its venture capital arm, UPS Ventures, has completed a minority investment in Arrival, which makes electric vehicle (EV) platforms and purpose-built vehicles that offer a highly competitive value proposition when compared with both traditional internal combustion engine vehicles, as well as existing EVs. Along with the investment in Arrival, UPS also announced a commitment to purchase 10,000 electric vehicles to be built for UPS with priority access to purchase additional electric vehicles.