cash crunch
over the past few months, as high costs related to production ramp-ups and soaring inflation eat into their reserves. Arrival expects to achieve its target of quarterly cash-burn rate of $35 million by the second half of 2023, as layoffs and other cost-cut measures take effect. At the end of 2022, the company had about $205 million in cash and cash equivalents.
The developments come after Arrival's warning last year that said it may not have enough cash to keep its business going towards the end of 2023. In January, it
no way they can competing with Chinese companies
You kidding me? Some of these guys are getting paid for these stuff?
Are British cars getting even smaller? 😨
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