The Hyundai Motor Group has announced that it will develop a platform for electric vehicles together with the Los Angeles-based startup Canoo. The most recent startup the automaker has tapped into as part of an $ 87 billion investment in electrification and other future technologies.
The platform for electric vehicles will be based on Canoo's proprietary skateboard design, according to the agreement announced on Tuesday. The platform will be used for future Hyundai and Kia electric vehicles as well as for the so-called “purpose-built vehicles” of the automaker group. The PBV that Hyundai unveiled at CES 2020 last month is a pod-like vehicle that, according to the company, is possible to be used for various functions during transportation, including: B. a restaurant or clinic. The concept is similar to Toyota's e-pallet vehicle, which theoretically can be customized to serve as a retail store, restaurant, or shuttle for people.
The partnership with Canoo is the latest example of Hyundai Motor intensifying its efforts and investments in electrification, autonomous technology and other futuristic mobility trends, including flying cars. Earlier this month, Hyundai announced that it would invest $ 110 million in the British startup Arrival and jointly develop electric commercial vehicles.
Hyundai Motor Group has committed to invest $ 87 billion over the next five years. From all of the Group's commitment, Hyundai will invest $ 52 billion in “future technologies” and Kia will invest $ 25 billion in electrification and future mobility technologies. The company aims to make “environmentally friendly vehicles” 25% of its total sales by 2025.
Canoo said it will provide engineering services for the development of the electrical platform.
Canoo was founded in 2017 as Evelozcity by two former Faraday Future executives, Stefan Krause and Ulrich Kranz. The company was renamed Canoo in spring 2019 and presented its first vehicle last September. The first Canoo vehicles are expected to appear on the road in 2021 and will only be offered as a subscription. The Canoo company recently opened the waiting list for their first vehicle.
At the heart of Canoo's first vehicle, more like a microbus than a conventional electric SUV, is the “skateboard” architecture, in which the batteries and the electric drive train are housed in a chassis under the vehicle cabin. This Canoo architecture is of interest to the Hyundai Motor Group.
Hyundai Motor Group relies on this underlying architecture to help the company reduce the cost and complexity of production, and respond quickly to changing market needs and customer preferences.
“We were very impressed with the speed and efficiency with which Canoo developed its innovative EV architecture. This makes them the perfect engineering partner for us as we develop into a pioneer in the future mobility industry, ”said Albert Biermann, Head of R&D at Hyundai Motor Group, said in a statement. "We will work with Canoo engineers to develop a low-cost Hyundai platform concept that is autonomously ready and ready for mass adoption."