Hyundai, Kia to invest $110 million in UK electric van startup Arrival Ltd.


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Hyundai, Kia to invest $110 million in UK electric van startup Arrival Ltd.

On Thursday, the 16th of January 2020, Seoul-based S. Korea’s Hyundai Motor Company, commonly dubbed as Hyundai Motors, alongside one of its automaking subsidiaries, Kia Motors had issued a joint statement saying that the South Korea’s Hyundai Group had been brewing an option to invest as much as $110 million in a London-based UK electric van startup Arrival Ltd.

which has plans to start off delivering electric pickup vans as early as by 2021. Aside from that, founded back in the 2015s in the busy, jampacked and rain-swept London streets, Arrival had already developed an all-electric shuttle bus with futuristic design for commercial delivery purposes, while the company had also added its futuristic shuttle van would be able to cover at least 300 miles following a single session of charging.

Meanwhile, followed by the Thursday’s (January 16th) joint statement made earlier in the Asia-Pacific trading hours by Hyundai Motors and its sister automaker Kia Motors, the Arrival Ltd. said in a statement that it would work with Hyundai Group and Kia to manufacture a swathe of battery-powered vehicles ranging from electric pickup vans to commercial delivery vans to electric buses.

Concomitantly, a spokeswoman for the London-based e-vehicle startup, Arrival Ltd. was quoted saying following the automaker’s Thursday’s (January 16th) statement that Arrival’s prototype delivery pickup vans and buses would use BlackBerry’s QNX operating system to enhance safety features.