This partnership is expected to increase auto giant's investment in next gen vehicle technologies.
Mergers, acquisitions, and collaborations across one of the biggest industries like automotive, is no more a big thing for the companies.
The platform is also what is expected to underpin Hyundai and Kia Purpose Built Vehicles (PBV)-such as those shown by Hyundai at this year's CES-that are meant to be self-driving.
Canoo said it will provide engineering services for the development of the electrical platform.
"We were highly impressed by the speed and efficiency in which Canoo developed their innovative EV architecture", Hyundai spokesperson Albert Biermann said.
The electric vehicle platform will be based on Canoo's proprietary skateboard design, according to the agreement that was announced Tuesday.
The announcement of the investment forms part of HMG's US$87 billion (A$129.4b) investment over the next five years, with US$25b (A$37.19b) of that being spent by Hyundai on future technologies, and the same amount by Kia for electrification and future mobility technologies, with the end goal of achieving 25 per cent of sales made up of eco-friendly vehicles by 2025. In addition, the Canoo skateboard is a self-contained unit that can be paired with any cabin design. Founded in December 2017, it presented its first model based on an internally developed battery-powered platform back in September 2019.
Seeing great potential on the skateboard platform, Hyundai aims to produce low-priced autonomous and manned delivery vehicles through its Los Angeles-based initiative.
"We have been working diligently to develop a bold new electric vehicle and partnering with a global leader like Hyundai is a validating moment for our young company", says Ulrich Kranz, In Charge of Canoo.
A new business model that focuses on reducing production and infrastructure costs to make EVs more affordable to customers. Canoo will provide both the platform and "engineering services".
The architecture is a reason where Hyundai Motor Group is showing interest. It is this Canoo architecture that interests Hyundai Motor Group.
According to rebel commanders, a Syrian military helicopter was shot down on Tuesday (February 11) in the province of Idlib. Syrian men ride a motorcycle in the village of Maaret al-Naasan in Idlib province.
The Democratic majority in the House is expected to pass the measure next, after which it would go to Trump for his signature. Meanwhile, US President said that decision if taken would send a very bad signal and allow Tehran to act with impunity.
Net loss for Airbus in the past year amounted to 1.36 billion euros compared to a net profit of $ 3.05 billion euros in 2018. Revenues rose 11% to 70.5 billion euros (£59.1 billion) as the company ramped up production of its A320 twinjet.
He struck seven fours and two sixes for his third Test half-century before holing out off spinner Taijul Islam to deep mid-wicket. On the back of the bowler's efforts, Bangladesh found themselves reeling at 126/6 at stumps, still trailing by 86 runs.
Sancho moved to Dortmund from Manchester City in 2017 after he spent a couple of seasons in the Eastland outfit's youth set up. Dortmund are also in the Champions League as they prepare for a last-16 clash against the French champions PSG this month.
Hubei had previously only allowed infections to be confirmed by RNA tests, which can take days to process and delay treatment. Daily declines in new cases in Hubei earlier this week helped push US equity markets to record highs on Wednesday.
The Florida Fish and Wildlife Conservation Commission is investigating these latest cases, along with NOAA authorities. The reward is being offered by the law enforcement arm of the National Oceanic and Atmospheric Administration (NOAA ).
Are you excited for the new " Mighty Ducks " Disney + series? "We are thrilled to have Emilio Estevez reprising his iconic role". In addition to playing Gordon Bombay, Estevez will also serve as an executive producer on the 10-episode series.
Police wanted to stress Wednesday morning that people should not believe social media rumors about a body being found. The State is trying to get important information to the public as quickly and accurately as possible.
Solar Orbiter's head-on views should finally yield a full 3D view of the sun , 150 million kilometres from our home planet. But while Parker samples particles from up close, Solar Orbiter will snap photos from far away to heighten observations.
State confirms child's death from flu
Chan said people should try to get a flu shot around October, as it takes about two weeks for a person to develop immunity. The University Health Center has seen students testing positive frequently with both influenza A and B.
Want to be an astronaut? NASA is hiring!
Fresh-faced astronauts could find themselves living and working 250 miles from Earth aboard the ISS. Right now, there are 48 astronauts in the active astronaut corps.
China reports 254 new virus deaths and 15152 daily cases
Since the virus appeared in Wuhan in December, it has killed about 1,360 people and infected more than 60,000 across the globe. Authorities in Japan have said 44 more people on quarantined cruise ship have tested positive for Covid-19.
Rare snowfall carpets Karbala, Baghdad - Newspaper
The climate of Baghdad is known as a desert climate , meaning it usually experiences extremely hot, dry summers and mild winters. Then a year ago , heavy rainfall led to serious flooding and widespread damage to the country's infrastructure.
15th USA coronavirus case confirmed by CDC
She added that the CDC, in its outbreak planning, isn't counting on a drop in virus activity as the weather warms. On the heels of the test release, officials predicted an uptick in the number of diagnoses in the US.
Hope Hicks Returning to Trump White House
Then-White House Press Secretary Sarah Sanders denied that her departure was related to her testimony. She was also called back into Washington in 2019 for House investigative hearings of the president.