Arrival’s electric vans on road to Wall Street | Business

A British developer of electric vans and buses is to go public in the United States at a valuation of $5.4 billion as the market for green vehicles heats up.

Arrival, which is five years old, loss-making and has yet to build its first production vehicle, will be listed on the Nasdaq exchange through a reverse takeover by a “blank cheque” investment fund.

The company has its headquarters in London, a factory in Bicester, Oxfordshire, and research and development facilities in Reading and Banbury.

The Bicester factory is scheduled to begin van production in 2022 and will create between 200 and 300 jobs, Mike Ableson, who oversees the company’s global production, said. The former General Motors executive said that there was potential for a further