Hyundai to partner U.S. startup Canoo to develop EVs

Hyundai and Kia will use Canoo’s EV skateboard to underpin an electric vehicle

Korean carmaker Hyundai Motor Company is set to begin co-developing an electric vehicle (EV) platform with Californian subscription-only startup Canoo.

The Hyundai Motor Group recently committed to investing £67 billion in the next five years on future growth plans and EV development.

The platform is also what is expected to underpin Hyundai and Kia Purpose Built Vehicles (PBV)-such as those shown by Hyundai at this year's CES-that are meant to be self-driving. Now, it's joining forces with Hyundai to develop an all-electric, scalable EV platform, which could make for simpler and cheaper models in the future. It holds similar ambitions regarding its new collaboration with Canoo, whose skateboard chassis is a self-contained unit housing the key components of the vehicle and can, according to the companies, be mounted to any cabin design.

Canoo’s new vehicle the Canoo – yes the Canoo Canoo – is the latest EV entry in the U.S
Canoo’s new vehicle the Canoo – yes the Canoo Canoo – is the latest EV entry in the U.S

As per reliable reports, this deal is estimated to be Hyundai's latest in a series of moves which is aimed to increase investment in the next generation automobile technologies via various partnerships with distinguished overseas startups.

Hyundai said that with Canoo it will co-develop "a cost-effective Hyundai platform concept that is autonomous ready and suitable for mass adoption".

He further added that the authorities are convinced with the speed and efficiency in which Canoo has been developing their innovative EV architecture, making them a flawless fit as a company partner for future automobile.

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Moreover, Hyundai, in January this year enunciated its plan of investing approximately more than Dollars 87 billion in the next five years to augment its presence in future mobility markets. Additionally, it sounds like a good complement to the joint investment made by Hyundai and Kia last month in the United Kingdom commercial electric vehicle company Arrival.

Established in December 2017, Canoo unveiled its first electric vehicle using the skateboard platform technology in September 2019, in 19 months since the start of R&D activities.

Canoo's platform is a self-contained unit that houses all the key powertrain components, on the top of which any type of auto body can be fitted. "Canoo's first vehicle will launch in 2021, and is designed for a world in which transportation is becoming increasingly electric, shared and autonomous". Canoo will provide both the platform and "engineering services".

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Hyundai is confident about this architecture, which will help it reduce production and cost complications.

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