REUTERS: Korea's Hyundai Group is backing a UK electric vehicle startup that plans to begin selling battery-powered delivery vans in 2021, the companies said on Thursday .
In a statement, Arrival said it will work with Hyundai and Kia to develop a variety of electric vehicles, initially for the commercial market. Those vehicles will be built on Arrival's modular vehicle platform or"skateboard" that bundles motor, batteries and chassis components, similar to the skateboard developed by US startup Rivian.
Hyundai and Kia last year invested US$89 million in Rimac Automobili, a nine-year-old Croatian company aspiring to build electric supercars that is also backed by Porsche AG.Arrival said its vehicles will be equipped with advanced driver assist features and can be upgraded with self-driving systems. Last fall, Arrival, which until now has operated largely in stealth mode, hired General Motors veteran Michael Ableson to head its new North American operations.
Source: News Formal (newsformal.com)
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