Hyundai and Kia invest 100m euros in UK electric van business20 January 2020
Hyundai and sister company Kia Motors have announced a €100 million investment in a partnership with Arrival, a UK-based electric vehicle business.
The deal will see the Korean car makers using Arrival’s technology and platforms for “purpose-built electric vehicles across multiple vehicle categories”, according to a statement. This is said to include volume production of electric vans and buses for logistics, on-demand ride-hailing and shuttle service operations.
“Through the joint development of electric commercial vehicles with Arrival, we will be able to gain a competitive advantage and progressively establish our leadership in the global eco-friendly vehicle market, with Europe at the forefront,” said Albert Biermann, president of Hyundai Group (pictured, right, with Denis Sverdlov, Arrival’s chief executive).
Founded in 2015, Arrival has developed a ‘skateboard’ vehicle platform with a modular component structure. It incorporates a battery pack, electric motor and driveline components.
Royal Mail was one of the first operators to test Arrival’s electric vans, when nine vehicles went into service in London in 2017 (see link below).
This material is protected by MA Business copyright
See Terms and Conditions.
One-off usage is permitted but bulk copying is not.
For multiple copies
contact the sales team.