UPS announced its venture capital arm, UPS Ventures has completed a minority investment in Arrival, which makes electric vehicle (EV) platforms and purpose-built vehicles.
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.
UPS will collaborate with Arrival to develop a wide range of electric vehicles with Advanced Driver-Assistance Systems (ADAS). The technology is designed to increase safety and operating efficiencies, including the potential for automated movements in UPS depots. UPS will initiate testing ADAS features later in 2020. Future vehicle purchases are contingent on successful tests of initial vehicles. Vehicle purchase prices will not be disclosed.