Automotive

British electric vehicle manufacturer Arrival acquires new factory

Updated on Monday 24 August 2020, 2:47 PM

1 Minute Read

British electric vehicle manufacturer has acquired a new 168,000 sq ft facility on the 40-acre Link 9 development near Junction 9 of the M40 at Bicester.

The production and distribution site, which is also set become the firm’s new headquarters, is in addition to the acquisition of a 120,000 sq ft site at the same development and a 30,000 sq ft facility at a neighboring industrial scheme, earlier this year.

Under the latest deal, the company has agreed a 15 year lease with commercial property agents VSL on behalf of the landlord RDI REIT.

Tom Barton, at VSL, said: “We are delighted to have let the final unit at the highly successful Link 9 Bicester development and pleased to have secured another new facility for Arrival to accommodate their impressive expansion.

It’s good to see our client’s RDI REIT Plc’s confidence in this scheme repaid with the final Link 9 development being let and fully occupied within 9 months of completion.

Arrival is creating the world’s first Generation 2 electric vehicle, using unique technologies to create affordable, purpose built electric vehicles for commercial customers. It has trialled prototypes with a wide range of companies including Royal Mail, DHL and DPD. Earlier this year, the firm secured an £85 million investment from Korean car giants Hyundai and Kia and won an order for 10,000 vehicles from logistics giant UPS.

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