Hyundai, Kia and Arrival partner to develop electric vans

Hyundai Motor Company and Kia Motors Corporation have announced an investment of £85 million in a new partnership with Arrival to make electric vans.

The vans will be competitively priced small and medium-sized and the partnership will see the creation of other products for logistics and 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 development of a range of Purpose Built Vehicles (PBV).

Albert Biermann, President and Head of Research and Development Division for Hyundai Motor Group, and Denis Sverdlovsk, Chief Executive Officer of Arrival, signed a contract for investment and the joint development of electric vehicles at the headquarters of Hyundai and Kia in Seoul. Of the total investment, Hyundai will contribute €80 million; Kia €20 million.

“The eco-friendly vehicle market in Europe is expected to grow rapidly due to the introduction of further environmental regulations,” said Biermann. “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.”

Arrival’s CEO Sverdlovsk added: “Arrival has created a game changing product category - Generation 2.0 electric vehicles. Hyundai and Kia have been making amazing vehicles with uncompromising quality and share our vision for an electric mobility future. Our Strategic Partnership with Hyundai and Kia means we will scale Generation 2 electric vehicles globally and importantly - in the very near future.”