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.
GSMA also released a statement, noting it cancelled the event "with due regard to the safe and healthy environment in Barcelona". The annual Mobile World Congress will no longer be held as planned in Barcelona, in Spain, on 24-27 February.
Stone, a self-proclaimed "dirty trickster", was found guilty past year of lying to Congress, obstruction and witness tampering. He later told reporters he didn't speak to Justice Department officials, though he said he could if he wanted.
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.
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.
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 ).
This is the first person under quarantine at JBSA-Lackland who had symptoms and tested positive for COVID-19. It's responsible for the planning, coordination and conduct of immunization programs in the United States.
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.
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.
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.
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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.
Airbus posts 2019 loss, plans A320 production ramp
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Want to be an astronaut? NASA is hiring!
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Rare snowfall carpets Karbala, Baghdad - Newspaper
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In SC, a Frantic Search for Missing 6-Year-Old
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Man United hope to beat Chelsea FC to Jadon Sancho signing
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Pakistan vs Bangladesh, 1st Test, Day 4, Rawalpindi
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Hope Hicks Returning to Trump White House
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