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Hyundai and Kia to develop electric commercial vehicles

Christian Fernsby |
Hyundai Motor Company and Kia Motors Corporation today announced a strategic investment of €100 million ($110 million) in a new partnership with Arrival, a UK-based electric vehicle startup.

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Through the partnership, Hyundai and Kia plan to introduce competitively priced small and medium-sized electric vans and 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).

The partnership with Arrival will help Hyundai and Kia meet rapidly growing demand in Europe for eco-friendly commercial vehicles, and accelerate the brands’ transformation from car makers to clean-mobility providers.

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