Kia and Hyundai invest in UK electric vehicle firm

British EV firm Arrival gets huge €100million cash injection from Kia and Hyundai

Korean car giants Kia and Hyundai have invested €100million into UK electric vehicle firm Arrival to create next-generation commercial vehicles.

Arrival, founded in 2015, designs and develops ‘Generation 2’ electric vehicles, something it classes as a ‘new product category that surpasses existing electric vehicles in cost, design and efficiency.’

Hyundai and Kia electric cars to get new platform

The investment from Kia and Hyundai kicks off a strategic partnership between the firms to accelerate the development of next-generation EVs. Kia recently announced it aims to introduce 11 fully electric vehicles in the next five years.

Kia and Hyundai will have access to Arrivla’s bespoke flexible skateboard platforms that will enable them to produce multiple vehicles across a range of segments. Arrival currently builds its Generation 2 EVs in small microfactories in areas of high demand, something Kia and Hyundai intend to make use of.

The commercial vehicle market will be one of first to adopt electric technology on a mass scale, says Arrival. The UK firm says its vehicles will cost the same, or less than, conventionally powered alternatives. 

Speaking about the partnership Hyundai’s R&D boss Albert Biermann, said: “The eco-friendly vehicle market in Europe is expected to grow rapidly. Through the joint development of commercial electric vehicles with Arrival, we will be able to gain a competitive advantage and progressively establish our leadership in the global eco-friendly vehicle market.”

Click here for our list of the best electric cars on sale right now...

Recommended

Teaser images released for new Hyundai Bayon crossover
Hyundai Bayon - main
Hyundai

Teaser images released for new Hyundai Bayon crossover

The new Hyundai Bayon SUV will share plenty with the i20 and our exclusive images preview how it could look
20 Jan 2021
Kia gears up to launch seven new electric cars by 2027
Kia's EV future 1
Kia

Kia gears up to launch seven new electric cars by 2027

Kia has sparked its aspirational brand restructure, which will see the firm focus more heavily on electric cars and sustainable motoring
15 Jan 2021
New 2021 Ioniq 5 electric SUV teased with striking concept car design
Ioniq 5 - teaser front
Hyundai

New 2021 Ioniq 5 electric SUV teased with striking concept car design

The upcoming Ioniq 5 Volkswagen ID.4 rival will strongly embrace the design themes of the Hyundai 45 Concept
13 Jan 2021
New Kia logo revealed as part of aspirational rebranding
Kia

New Kia logo revealed as part of aspirational rebranding

New corporate look for Kia as it enters new era with a heavy focus on electric cars
6 Jan 2021

Most Popular

BMW 5 Series vs Audi A6 vs Volvo S90
BMW 5 Series vs Audi A6 vs Volvo S90 - main
Car group tests

BMW 5 Series vs Audi A6 vs Volvo S90

Can plug-in hybrid power create a clear winner out of the BMW 5 Series, Audi A6 or Volvo S90
23 Jan 2021
Best small 4x4s to buy 2021
Dacia Duster ford
Best cars & vans

Best small 4x4s to buy 2021

Need 4x4 capability without big SUV fuel bills? Take a look our top 10 small 4x4s instead
6 Jan 2021
New Lotus ‘Type 131’ due in 2021 as Elise, Exige and Evora bow out
Lotus range
Lotus

New Lotus ‘Type 131’ due in 2021 as Elise, Exige and Evora bow out

A new look Lotus line-up is teased with heavy influence from Evija hypercar expected
24 Jan 2021