Image courtesy of Arrival

Arrival, the U.K.-based electric van and bus company, said Wednesday that BlackRock-managed funds are investing $118 million to help fuel its expansion, including plans to build a factory in South Carolina, as first reported by The Wall Street Journal.

Why it matters: It's the latest sign of money pouring into electric vehicle startups.

  • "The investment values the U.K.-based manufacturer at around €3 billion, equivalent to $3.5 billion, according to a person familiar with the matter," per the Journal.

The big picture: It's also another sign that electric vehicle companies designing vehicles for corporate and government fleets are attracting lots of interest.

  • UPS, which is also one of Arrival's investors, plans to buy at least 10,000 battery-powered delivery trucks over the next five years, as Axios' Joann Muller reported early this year.

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Oct 23, 2020 - Economy & Business

Driverless car companies are getting back on track after a COVID-19 standstill

Ford's fourth-generation AV. Photo: Ford

Two weeks after Waymo opened up its driverless taxi service to the public in Phoenix, other autonomous vehicle developers are reporting progress, too.

Why it matters: The pandemic temporarily suspended on-road testing at many AV companies, but the past week shows they've been hard at work.

Updated 1 hour ago - Politics & Policy

Coronavirus dashboard

Illustration: Sarah Grillo/Axios

  1. Politics: Ex-FDA chief: Pence campaigning after COVID exposure puts others at risk — Mark Meadows: "We are not going to control the pandemic"— COVID-19 looms over White House Halloween celebrations.
  2. Health: 13 states set single-day coronavirus case records last week — Fauci says maybe we should mandate masks if people don't wear themU.S. reports over 80,000 new cases for second consecutive day.
  3. World: Italy tightens restrictions Spain declares new state of emergency.

Amy Coney Barrett's immediate impact

Illustration: Eniola Odetunde/Axios

In her first week on the job, Amy Coney Barrett may be deciding which votes to count in the presidential election. By her third week, she’ll be deciding the fate of the Affordable Care Act.

Where it stands: The Senate votes on Barrett’s nomination tomorrow. If she’s confirmed, Chief Justice John Roberts is expected to swear her in at the Supreme Court within hours, an administration official tells Axios.