- Agreement accelerates Hyundai and Kia’s clean-mobility transformation;
- €100 million investment enables co-development of eco-friendly vans and other products for logistics, on-demand ride-hailing, and shuttle service companies;
- Partnership takes advantage of Arrival’s scalable ‘skateboard’ platform technology to underpin future Purpose Built Vehicles (PBV) from Hyundai and Kia;
- Arrival has developed in-house software, materials, components and other technologies for the development of Generation 2.0 electric vehicles;
- Boosts Hyundai-Kia strategy for deployment of electrified commercial vehicles.
Hyundai Motor Company and Kia Motors Corporation announced a strategic investment of €100 million (US $110 million) in a new partnership with Arrival, a UK-based electric vehicle startup.
Through the partnership, Hyundai and Kia plan to introduce competitively priced small and medium-sized electric vans and other products for logistics, on-demand ride-hailing and shuttle service companies.
Arrival’s scalable electric platform can be adapted for multiple vehicle categories and types which Arrival, Hyundai and Kia will explore for the development of a range of Purpose Built Vehicles (PBV).
The partnership with Arrival will help Hyundai and Kia meet the rapidly growing demand in Europe for eco-friendly commercial vehicles, and accelerate the brands’ transformation from car makers to clean-mobility providers.
