[Asia Economy Reporter Suyeon Woo] Hyundai Kia Motors is jointly developing a next-generation electric vehicle platform using skateboard design technology with the U.S. electric vehicle specialist Canoo.
Hyundai Kia Motors plans to implement a dual electrification strategy by applying the next-generation electric vehicle platform jointly developed with Canoo mainly to compact and mid-size electric vehicles, while the electric vehicle platform developed with the UK electric vehicle specialist Arrival will be applied to commercial electric vehicles.
On the 11th (local time), Hyundai Kia Motors and Canoo signed a mutual cooperation agreement for next-generation electric vehicle development at Canoo's headquarters located in Los Angeles, USA.
Under this agreement, Canoo will provide technology support for developing a modular electric vehicle platform optimized for Hyundai Kia Motors. Canoo's unique skateboard platform is an electric vehicle-dedicated platform that mounts core components such as batteries and electric motors in a single standardized module form. Canoo is focusing on advanced electric vehicle platform technology that drastically reduces the size, weight, and number of parts of the platform to secure interior space and reduce costs.
Since its establishment at the end of 2017, Canoo has begun full-scale research and unveiled its first electric vehicle using skateboard platform technology in September last year, just 19 months later, and is conducting demonstration tests. Currently, more than 300 engineers are working to materialize Canoo's architecture system concept, and the first electric vehicle is planned to be launched in 2021.
Hyundai Kia Motors expects that by utilizing Canoo's platform technology, it will be able to ultimately lower the price of electric vehicles through simplification and standardization of the electric vehicle development process. Additionally, it is anticipated that producing various vehicle models on a single platform will enable faster response to customer demand.
Hyundai Kia Motors plans to apply this platform not only to compact and mid-size passenger electric vehicles but also to PBVs used for urban transportation and logistics services. Applying the skateboard platform to PBVs allows the development of various customized concept models according to vehicle usage. Albert Biermann, Head of Hyundai Kia Motors Research and Development (R&D) Division, said, "I am impressed by Canoo's high technology in innovative electric vehicle architecture," and added, "Through cooperation with Canoo, we will develop an electric vehicle platform optimized for autonomous driving and mass production with price competitiveness."
Ulrich Kranz, CEO of Canoo, responded, "Partnering with a global company like Hyundai Kia Motors proves our competitiveness," and said, "It is a true honor for us to develop the future electric vehicle architecture together."
This cooperation is expected to accelerate Hyundai Kia Motors' electrification strategy. At the end of last year, Hyundai Kia Motors announced the '2025 Strategy' to advance vehicle electrification. The plan is to invest 9.7 trillion KRW over the next six years, establish a full lineup of electric vehicles by 2025, and sell 500,000 electric vehicles globally by 2026.
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