Hyundai and Kia make €100M strategic investment in Arrival to co-develop electric commercial vehicles

By mmillikin Hyundai Motor Company and Kia Motors Corporation today made a strategic investment of €100 million (US $110 million) in a new partnership with Arrival, a UK-based electric vehicle startup (earlier post). Of the total investment, Hyundai will contribute €80 million; Kia €20 million.

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

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