Hyundai and Kia bet on London startup for electric cars

Business Standard | Jan 16, 2020 at 12:00 AM
  • South Korea’s Hyundai and its Kia affiliate announced plans Thursday for a major investment in London-based startup Arrival to produce next-generation electric vehicles that cost less than standard-engine models.
  • Arrival is focused on designing and producing so-called Generation 2 electric vehicles.
  • Hyundai and Kia have a shared ownership structure but target slightly different markets and demographics.