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Hyundai signs development deal with another electric vehicle startup – Source Reuters Tech News

FILE PHOTO: A man walks past the logo of Hyundai Motor during the 2019 Seoul Motor Show in Goyang, South Korea, March 28, 2019. REUTERS/Kim Hong-Ji

(Reuters) – Korean automaker Hyundai Motor Co broadened its future transportation portfolio with an agreement to jointly develop electric vehicles with California startup Canoo, the companies said on Tuesday.

It was the second such deal announced in recent weeks by Hyundai and sister company Kia Motors Corp, which in mid-January said they would invest $110 million in UK startup Arrival and jointly develop electric commercial vehicles.

In Seoul, a Hyundai spokesperson said the automaker’s partnership with two-year-old Canoo would focus on smaller electric passenger vehicles about the size of its Accent compact.

Like Arrival, Canoo has developed a “skateboard” – a low-rise platform that bundles batteries and electric motors with such chassis components as steering, brakes, wheels and tires – on which a variety of body types can be…

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Source Reuters Tech News

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