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Arrival is on track to begin production of its electric bus and van next year

Executives from London-based commercial EV company Arrival told investors Thursday the company was on track to meet planned product launch dates, but much will depend on whether or not the company can fulfill orders and turn letters of intent into sales — especially a crucial van order with UPS, which could bring in upwards of $1 billion in revenue. The company’s non-binding orders and letters of intent total 59,000 vehicles — a number that includes an agreement with UPS to purchase up to 10,000 vehicles across the U.S. and Europe, and an option in the agreement for an additional 10,000 vehicles. If the logistics giant opts to purchase all 20,000 vehicles, the deal could be worth over $1 billion, the company told investors last year.

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