6 years ago

Hyundai and Kia Invest €100 Million in UK EV Startup Arrival

  • Hyundai Motor Company and Kia Motors Corporation have invested €100 million in UK-based electric vehicle company Arrival, marking the start of a strategic partnership to accelerate the adoption of commercial electric vehicles globally

  • The investment will help Hyundai and Kia achieve their goal of developing mobility services and electrifying their vehicle fleets

  • Arrival is creating Generation 2 Electric Vehicles, which are assembled using small footprint microfactories and are more efficient and cost-effective than traditional electric vehicles

  • The partnership will allow the companies to scale Generation 2 Electric Vehicles globally.

      • ProblemTransportation

      "Existing electric vehicles are expensive, inefficient and costly to run and maintain because they are based on fossil fuel vehicles retrofitted with electric power trains."

      Solution

      "Arrival is creating Generation 2 Electric Vehicles, which are assembled using small footprint microfactories, located in areas of demand and profitable at thousands of units. They are vertically integrated, and have created in-house software, components, sustainable materials and modular skateboard platforms."

      Covered on