DLA Piper advised Hyundai/KIA Motors as lead investor in the Series A round.
Arrival SARL raised €100 million in the Series A round.
With this investment, Hyundai/KIA Motors expects to expand its electric vehicle offering by closely collaborating with Arrival on its innovative Generation 2 Electric Vehicle Technology. The transaction closed on December 30, 2019.
Arrival was founded in 2015 and has a key R&D and manufacturing hub in the UK. It recently acquired a new factory premises in Banbury, Oxfordshire and has around 700 employees. The Company also has subsidiaries in the US, Germany, Russia, Netherlands and Israel with a key focus on the production of the Electric Bus and Electric Van models, with full production expected to begin in 2020 and 2021, respectively. A key component of the Company’s Generation 2 models is its innovative “skateboard” base which houses the battery and motor that allows easy production of different variation of electric vehicles without the need for a traditional design containing a bonnet and engine.
The DLA Piper multijurisdictional team included lawyers from the firm’s offices in Seoul, London and Luxembourg. The Seoul team was led by Country Managing Partner, Korea, Daniel Lee and associate Theresa Huh. The London was led by Corporate partner Luca Gori (Picture), senior associate Dylan Kennett and associate Rose Kelsey, who led and managed all aspects of the transaction. Counsel Nicholas Marchand, senior associate Gersende Masfayon and associate Gertjan Dewilde (all Luxembourg) advised on aspects related to Luxembourg law.
Involved fees earner: Gertjan Dewilde – DLA Piper; Luca Gori – DLA Piper; Theresa Huh – DLA Piper; Rose Kelsey – DLA Piper; Dylan Kennett – DLA Piper; Daniel Lee – DLA Piper; Nicolas Marchand – DLA Piper; Gersende Masfayon – DLA Piper;
Law Firms: DLA Piper;
Clients: Hyundai Motor Company;