Hyundai and Canoo to develop new EV platform
Hyundai Motor Group and Canoo announced that Hyundai has engaged Canoo to jointly develop an electric vehicle (EV) platform based on Canoo's proprietary skateboard design for upcoming Kia and Hyundai models.
As part of the collaboration, Canoo will provide engineering services to help develop a fully scalable, all-electric platform to meet Kia and Hyundai specifications. Hyundai Motor Group expects the platform to help facilitate its commitment to delivering cost-competitive electrified vehicles that meet diverse customer needs.
Canoo, a Los Angeles based company creating EVs for subscription only, offers a skateboard platform which houses the critical components of the vehicle with a strong emphasis on functional integration, meaning all components fulfil as many functions as possible. This feat of engineering reduces the skateboard size, weight and total number of parts, which ultimately provides more interior cabin space and a more cost-effective EV offering. In addition, the Canoo skateboard is a self-contained unit that can be paired with any cabin design.
With this collaboration, Hyundai doubles down on its recent commitment to invest $87bn USD over the next five years to foster future growth. As part of this drive, Hyundai plans to invest $52bn in future technologies through 2025, while Kia will invest $25bn in electrification and future mobility technologies, aiming for eco-friendly vehicles to comprise 25 per cent of its total sales by 2025.
"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," said Ulrich Kranz, in charge of Canoo. "It is a real honour for us to help Hyundai explore EV architecture concepts for their future models."