On Thursday, in a joint statement, South Korea’s Hyundai Group and its sister firm Kia Motors Corp stated, they are backing a UK electric vehicle startup that plans on selling battery-powered delivery vans in 2021. They plan on investing $110 million (100 million euros) in Uk-based Arrival Ltd. Founded in 2015, London-based Arrival has developed…
The development assumes significance as it marks Hyundai’s forray into fleet vehicles. In a move aimed at helping Indian ride-hailing platform Ola catch up, South Korean automakers Hyundai Motor Co and Kia Motors Corp stated, they will invest a combined total of $300 million in Ola. The move follows the $275 million that the pair…
While Hyundai Motor has focussed on fuel cell technology, its peers including Tesla, have surged ahead in battery technology. On Thursday, Hyundai Motor Co disclosed it would be launching a long-range electric vehicle featuring a driving range of at least 311 miles (500 km) per charge after 2021. The annoucement is aimed at addressing investor…
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