Hyundai and Kia will build new electric vehicles based on the technological platform developed by California EV startup Canoo, the companies announced Tuesday. Terms of the deal were not disclosed.
Canoo and Hyundai Motor Group, Hyundai and Kia’s parent company, will develop a new electric vehicle platform that’s based on the one that powers Canoo’s own vehicle, which was unveiled last year. This EV platform will power small, “cost-competitive” electric vehicles, as well as “purpose built vehicles,” which would more closely resemble shuttles or even autonomous people-movers. (Hyundai previously showed off a purpose-built vehicle concept at this year’s Consumer Electronics Show.) Hyundai and Kia each currently sell an electric SUV based off the same platform, and the larger Hyundai Motor Group has promised 23 electric vehicles by 2025.
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