Tweet
UK electric vehicle unicorn Arrival receives €100M investment from Hyundai and Kia

UK electric vehicle unicorn Arrival receives €100M investment from Hyundai and Kia

16.01.2020: Hyundai and Kia invest €100M, making Arrival one of the UK’s largest unicorns Arrival, Hyundai and Kia will jointly develop vehicles using Arrival platf

    Hyundai and Kia invest €100M, making Arrival one of the UK’s largest unicorns


    Arrival, Hyundai and Kia will jointly develop vehicles using Arrival platforms and key technologies


    Arrival’s Generation 2 Electric Vehicles are a new category of electric vehicles that surpass traditional vehicles in cost, design and efficiency


    Generation 2 vehicles are designed to be assembled by microfactories – located to serve local communities, with small footprint and achieving profitability at thousands of units

 

Hyundai Motor Company and Kia Motors Corporation announce today a €100M investment in UK based electric vehicle company Arrival.
 

The investment marks the start of a strategic partnership between the automakers to jointly accelerate the adoption of commercial electric vehicles globally. Hyundai and Kia will use key Arrival technologies to help achieve their recently announced goal to develop mobility services and electrify their vehicle fleets.



Arrival is reimagining vehicle design and assembly to create Generation 2 Electric Vehicles.  Generation 1 electric vehicles are existing fossil fuel vehicles retrofitted with electric power trains, making them expensive, inefficient and costly to run and maintain.  In contrast, Arrival’s Generation 2 products have been designed from a blank sheet and surpass traditional vehicles in cost, design and efficiency.
 


Generation 2 vehicles are assembled using small footprint microfactories, located in areas of demand and profitable at thousands of units. Headquartered in London with over 800 employees in 5 countries Arrival is vertically integrated, and has created in-house software, components, sustainable materials and modular skateboard platforms.
 


Through the course of the partnership, Arrival, Hyundai and Kia will use Arrival’s flexible skateboard platforms and technologies to create new purpose built electric vehicles (PBVs) across multiple vehicle categories. Hyundai and Kia will leverage Arrival’s novel microfactories and software innovation whilst Arrival will benefit from the OEM’s global footprint and economies of scale. This will help accelerate the ‘Two Track’ strategy adopted by Hyundai, to bring zero-emissions battery and fuel cell technologies to the commercial vehicle market.
 


“Arrival has created a game changing product category - Generation 2 Electric Vehicles. Hyundai and KIA make world-class vehicles with uncompromising quality. This strategic partnership will empower our companies to scale Generation 2 Electric Vehicles globally”  CEO of Arrival, Denis Sverdlov said.



Albert Biermann, President and Head of Research and Development Division at Hyundai Motor Group, added “
The eco-friendly vehicle market in Europe is expected to grow rapidly due to reinforcement of environmental regulations. Through the joint development of commercial electric vehicles with Arrival, we will be able to gain a competitive advantage and progressively establish our leadership in the global eco-friendly vehicle market.”



Arrival’s immediate focus is on the commercial vehicle market which has seen the largest increase in usage and therefore emissions as over 90% of commercial vehicles being diesel fuelled. Electric vehicles fit seamlessly within commercial fleets as they benefit from predictable routes and overnight depot charging.  As a result of the clever design and assembly process, Arrival’s vehicles are priced the same, or less than, current fossil fuel vehicles. This gives fleet managers a compelling commercial and environmental reason to switch to electric and will accelerate the adoption of electric technology globally. With over 300million commercial vehicles in the world, this will have a huge impact on global emissions.
 


Youngcho Chi, President and Chief Innovation Officer at Hyundai Motor Group said: “
This investment is part of an open innovation strategy pursued by Hyundai and Kia. We will accelerate investment and cooperation with companies with advanced technology such as Arrival, to respond to the rapidly changing eco-friendly vehicle market.”
 


As Arrival transitions from R&D to full scale production, Hyundai and Kia offer Arrival their combined expertise in mass manufacturing and vehicle launches, underpinning Arrival’s ambition of scaling rapidly around the world. Together the partnership represents a winning combination to enable the imminent delivery of the next generation of scalable, purpose built electric mobility solutions.
 


“We are excited to come out of stealth mode with our partnership with Hyundai Motor Group, and our complementary expertise will allow us to rapidly design, build and roll out vehicles together. Accelerating electric vehicle adoption is good for everyone - for people, business and the planet and we are pleased to undertake this mission with our partners Hyundai and Kia ”  Avinash Rugoobur, Chief Strategy Officer, Arrival




-KIA also photo

Permanent-URL: http://www.automobilsport.com/uk-electric-vehicle-arrival-investment-hyundai-kia---202693.html

16.01.2020 / MaP

More News

LIQUI MOLY wächst trotz Problemen
15.01.2020
Softwareumstellung verhagelt das Jahresergebnis – dennoch Rekordumsatz Photo: LIQUI MOLY-Geschäftsführer Günter Hiermaier, Marketingleiter Peter Baumann, Geschäftsführer Ernst Prost (von links) sowie Alexandra Holzwarth (Assis more >>
Volkswagen Group records higher deliveries in 2019
15.01.2020
    Despite shrinking overall markets, worldwide deliveries grow by 1.3 percent to 10.97 million vehicles    Market share expanded in all regions, in some cases significantly    Strong growth of around 80 percent in electric vehicles to more than 140,000 units more >>
New year brings with it leadership changes at Audi South Africa
14.01.2020
Audi announces changes within its local management team as part of a broader leadership restructure at Volkswagen Group South Africa. Asif Hoosen who has been managing the Marketing, Product and Public Relations portfolio for more >>
BMW Motorrad enters the new decade with its ninth consecutive sales record
14.01.2020
Worldwide deliveries increased by 5.8% to 175,162 vehicles in 2019. Introduction of new models is showing its effect.In 2019 as well, BMW Motorrad has sold more motorcycles and scooters than ever before. Compared to the strong previous year, deliveries i more >>
Mitsubishi Motors Corporation Important personnel change
14.01.2020
Mitsubishi Motors Corporation today announced the following important personnel change effective January 15.         New  Current  Name&nbs more >>
Automobili Lamborghini continues its global growth and marks new historic highs: 8,205 cars delivered in 2019
14.01.2020
 •    Lamborghini increases worldwide sales by 43% to 8,205 units•    Global sales growth for nine consecutive years•    Strong sales performance for both super sports car model lines: V10 and V12 •    Super SUV continues high sales momentum: almost 5,000 Urus d more >>
SKODA delivers 1.24 million vehicles in 2019
13.01.2020
› ŠKODA delivers more than one million vehicles to customers for sixth consecutive year› Record year in Europe (+5.8%) and Russia (+8.8%)› Delivering 114,700 vehicles in December represents an increase of 9.1% over same period last year› Models: OCTAVIA continues to be the bestseller; demand for SUV models rema more >>
Toyota Motor Europe outperforms market and posts strong growth in 2019, reaching 5.3% market share
13.01.2020
    Toyota brand passes 1 million sales for the first time since 2008    Lexus increases 14.5% to a record 87,000 sales marking sixth successive year of European growth    Hybrid electric vehicles make up 52% of total sales and 63% in West Europe more >>
Porsche increases number of deliveries in 2019 by ten percent
13.01.2020
280.800 cars handed over to customers worldwideVehicles produced by the Stuttgart-based sports car manufacturer are more popular than ever: in 2019 Porsche delivered 280,800 vehicles to its customers – ten percent more than in the previous y more >>
Volkswagen Passenger Cars brings 2019 to a successful close
13.01.2020
Volkswagen brand boosts global deliveries by 0.5 percent compared with 2018 to 6.28 million vehicles  Increases in Europe, South America, Asia-Pacific and the USA  More than 80,000 electric vehicles delivered (+60 percent)   more >>
Lexus post record sales and sixth consecutive year of growth in Europe
10.01.2020
    Lexus Europe* sold 87,206 vehicles in 2019, a new record    Lexus is one of the fastest-growing automotive brands in the region, increasing its sales by 14% in 2019    In just six years, Lexus has more than doubled its European sales volume    Self-charging hybrid vehicles accounted for 9 more >>
Mercedes-Benz full year unit sales by model
10.01.2020
Every third Mercedes-Benz vehicle sold in 2019 was an SUV With sales of about 783,700 units the GLA, GLB, GLC, GLC Coupé, EQC (combined electrical consumption: 20.8–19.7 kWh/100 km; combined CO2 emissions: 0 g/km)[1], GLE, GLE C more >>
Mercedes-Benz full year unit sales by region and market
10.01.2020
Asia-Pacific region achieves best-ever sales; China is most important driver of global sales growth In the Asia-Pacific sales region, a new record was achieved in 2019 with 977,922 units sold (+3.7%). In fact, more Mercedes-Benz vehicles were delivered in China than in any other market globally. A total of 693,443 cars were handed over to customers in China, a more >>
Mercedes-Benz achieves increased unit sales for ninth consecutive year and remains number one among luxury car brands
10.01.2020
    Mercedes-Benz delivered 2,339,562 cars last year, achieving the highest annual sales volume in the company’s history (+1.3%) in a challenging environment for the automotive industry.    Mercedes-Benz Cars more >>
Audi closes 2019 with a growth in deliveries of 1.8 percent
09.01.2020
Increase in all core markets, new record in China        Global demand up by 13.9 percent in December        Hildegard Wortmann, Board of Management Member for Sales and Marketing: “We have set our course for further growth”  more >>
SEAT sales grow 10.9% in 2019 and set the best year ever
09.01.2020
•    The company delivers 574,100 cars and surpasses the figure sold in 2018•    SEAT repeats its sales leadership in Spain and reaches third position in Austria•    Germany, the UK, Switzerland, Poland, Israel, Sweden and Denmark post record volume growth•    CUPRA sales more >>
Marc Rieß to become new Chief Operating Officer at Porsche Financial Services
08.01.2020
Change in managementMarc Rieß (43) will become the new Chief Operating Officer (COO) of Porsche Financial Services on 1 February, 2020. Rieß has been Chief Financial Officer (CFO) of Porsche Financial Services in the USA and Canada since 2012 and more >>
Luca de Meo steps down as President of Seat
07.01.2020
SEAT informs that, on his own request and in common agreement with the Volkswagen Group, Luca de Meo is stepping down from his position as President of SEAT. Luca de Meo will remain a member of the Group until further notice.  more >>
Rolls-Royce Motor Cars delivers historic record result in 2019
07.01.2020
Rolls-Royce Motor Cars has delivered an historic annual sales record in 2019, with a global performance unequalled in the company’s 116-year history. A total of 5,152 cars were delivered to customers in over 50 countries around the world, an increase of 25% on the previous high set in 2018. With these historic results, Rolls-Royce continues to make a mea more >>
BMW Group UK reports 2019 sales
06.01.2020
• One in ten UK new car customers choose a BMW or MINI vehicle • 27 per cent increase in fully-electric BMW i3 deliveries to customersBMW Group UK has reported 234,637 BMW and MINI vehicle registrations in 2019 with one in more >>
BMW of North America Reports December 2019 and Year-End U.S. Sales
04.01.2020
    BMW Brand Sales Increase 4.0% in December; Close 2019 Up 4.4%BMW sales totaled 35,746 vehicles in December 2019, an increase of 4.0 percent over the 34,357 vehicles sold in December 2018.  For the full year 2019 BMW s more >>
Record Light Truck Sales Lift AHM and Honda Brand to Sales Increases in 2019
03.01.2020
    American Honda sales of cars and trucks rise 0.2% in 2019, with record annual truck sales (up 2.9%)    Honda brand trucks set new annual record with gain of 3.4% for year    Honda HR-V and CR-V set new annual records    Acura SUVs remain strong, while ILX sales grow 30.3% for more >>
Unit sales by Daimler Trucks in 2019 slightly down on previous year, as expected
03.01.2020
    Slight decrease in unit sales of four percent (January through November 2019) compared with prior-year period    Normalization of important markets for heavy trucks (NAFTA regi more >>
Mitsubishi Motors Announces Production, Sales and Export Figures for November 2019
26.12.2019
November 2019     Fiscal Year 2019 (19/04-19/11)     Calendar Year 2019(19/01-19/11) Volume     YoY(%)     Volume     YoY(%)     Volume     YoY(%)Production  &n more >>
Rolls-Royce announces new director of finance
20.12.2019
Rolls-Royce Motor Cars has announced that Dr. Timo Poser has been appointed as Director of Finance, effective from 1 February 2020.Poser is an exceptionally experienced financial expert, having spent almost 20 years with the BMW Gr more >>
Volkswagen making good headway with transformation
19.12.2019
€19 billion for future technologies through 2024, of which €11 billion for e-mobility   Model and electric offensive in 2020: 34 new models in total   Newly-established Car.Software organization starts operating on January 1, 2020   “Transform2025+” strategy gaining foothold  more >>
Lexus celebrates half a million SUV sales across its European Markets
18.12.2019
   Sales landmark reached in less than 20 years    Lexus pioneered the luxury crossover market with the original RX model    Lexus also introduced self-charging hybrid power to the luxury SUV market with the RX 400h of 2005    Hybrid now integral to Lexus’ SUV product strategy, with 96% of W more >>
Collaborations and consolidation in global auto industry will continue in 2020, says GlobalData
18.12.2019
Following the news that the boards of PSA Group and Fiat-Chrysler (FCA) have signed off on plans to combine operations and create a leading global group; David Leggett, Automotive Editor at GlobalData, a leading data and analytics company, offers his view: “The planned merger between these two big vehicle makers is not over the line yet, but they have mo more >>
Groupe PSA and FCA agree to merge - details
18.12.2019
New entity will have the leadership, resources and scale to be at the forefront of a new era of sustainable mobility •    Combines companies’ extensive and growing capabilities to address the challenge of shaping the new era of sustainable more >>
Volkswagen introduces new remuneration model for 18,000 managers worldwide
13.12.2019
 Based on remuneration system for Board of Management and top management  Emphasis on entrepreneurship, team spirit and Group idea  Focus on financial situation, return targets and share basis Volkswagen is more >>
SKODA delivers 109,000 vehicles in November
11.12.2019
› Markets: Growth in Russia (+10.5%) and Czech domestic market (+5.7%)› Models: Demand for SUV models KAROQ, KODIAQ and KAMIQ remains high› Fourth generation of the brand icon ŠKODA OCTAVIA celebrates world premiere on 11 November at Prague National Gallery more >>
Volkswagen passenger cars grows deliveries in November
11.12.2019
Volkswagen brand delivers 586,400 vehicles worldwide in November, a significant increase of 3.9% compared with the same month last year  Volkswagen records growth in worldwide deliveries despite shrinking overall markets and further expands market shares  Sales Board Member Jürgen Stackmann: “The Volkswagen brand continues to demo more >>
Mercedes-Benz delivers more than 200,000 vehicles in a November for the first time
07.12.2019
    Mercedes-Benz sold 209,058 cars worldwide last month, passing the mark of 200,000 units delivered for the first time in a November (+5.3%).    From January to November a total of 2,133,594 vehicles were sold - a sales increase by 1.4%.    In November and since the beginning of the year, unit sales more >>
Record-breaking figure for Audi in November
07.12.2019
Deliveries up 23.1 percent to around 163,350 cars    North America and China close month with new records        Worldwide around 1,669,600 units since January, beating last year’s figure        Hildegard Wortmann, Member of the Board of Management for Sales and Market more >>
BMW Group sales continue to grow in November, with new all-time high also for electrified vehicles
07.12.2019
BMW Group sales continued their positive trend in November: Worldwide deliveries increased by 1.4% over the same month last year to 225,662 units. Deliveries in the year to the end of November were up 1.7% year-on-year, with a total of 2,296,174 premium BMW, MINI and Rolls-Royce vehicles sold.  more >>
UK car market is being dragged down by economic uncertainties, says GlobalData
05.12.2019
Following the news that the UK car market declined by 1.3% in November;David Leggett, Automotive Editor at GlobalData, a leading data and analytics company, offers his view: “The UK car market has been trending down for some time, hit by weak consumer and business more >>
Hadi Zablit appointed Alliance General Secretary
04.12.2019
Alliance Renault Nissan Mitsubishi MotorsAs of December 9th, Hadi Zablit is appointed Alliance General Secretary, reporting to the Alliance Operating Board and the CEOs of the three companies. The Alliance General Secretary will coordin more >>
Toyota Motor Europe announces executive changes for January 2020
04.12.2019
Toyota Motor Europe (TME) announced today several executive level appointments at its European Headquarters and Affiliates, effective January 1st, 2020.Toyota Motor Europe (TME) Executive Changes    Mr. Miguel Fonseca, currently R more >>
Strong Car & Truck Sales Fuel Record November for American Honda, and Honda and Acura Trucks
04.12.2019
   American Honda sets new November sales records for total vehicles (up 11.1%) and trucks (up 18.2%)    Honda brand truck sales jump 21.3% for best-ever November sales    Honda HR-V and CR-V each set new November records; Ridgeline gains 36.2%    Acura brand gains 3.1%, with record November truck more >>

2001-2020 automobilsport.com full copyright