Consumer acceptance of electric vehicles has so far been slow partly due to their high cost, but Hyundai and Kia plan to soon make more affordable battery-powered cars.
The new partnership will co-develop eco-friendly vans and other products for logistics, on-demand ride-hailing, and shuttle service companies. Cost savings will be achieved by building EVs at small footprint micro-factories, located in areas of demand and profitable at thousands of units, the three companies said in a joint statement.
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