Happenings

Hyundai Ties Up With Canoo to Develop Platform for Future EV Platform

BY Keegan Gan

A skateboard chassis as the basis for future EV platforms? Who would have thought of that? Well, Hyundai did...

In its latest endeavour, Hyundai Motor Group has teamed up with Californian startup Canoo to jointly develop an electric vehicle (EV) platform based on Canoo’s proprietary skateboard design for upcoming Hyundai and Kia models. As part of the collaboration, Canoo will provide engineering services to help develop a fully scalable, all-electric platform to meet Hyundai and Kia specifications. Hyundai Motor Group expects the platform to help facilitate its commitment in delivering a range of cost-competitive EVs that meet diverse customer needs.

Hyundai Motor Group expects an adaptable all-electric platform using Canoo’s scalable skateboard architecture to allow for a simplified and standardised development process for Hyundai and Kia electrified vehicles, which is expected to help reduce cost that can be passed along to consumers. Hyundai Motor Group also expects to reduce complexity of its EV assembly line, allowing for rapid response to changing market demands and customer preferences. With this collaboration, Hyundai Motor Group doubles down on its recent commitment to invest $87 billion USD over the next five years to foster future growth. As part of this drive, Hyundai plans to invest $52 billion USD in future technologies through 2025, while Kia will invest $25 billion USD in electrification and future mobility technologies, aiming for eco-friendly vehicles to comprise 25% of its total sales by 2025.