Hyundai partners with Canoo to develop EV platform for upcoming Hyundai, Kia models
Rivian has developed a large electric vehicle skateboard platform that can be used for a variety of vehicles. The company is using it on their own R1T and R1S and has sold it to Ford for use as the underpinnings for an all-electric F-150.
Canoo's skateboard is designed to be suitable for mass market adoption.Photo courtesy of Hyundai Motor America
"We were highly impressed by the speed and efficiency in which Canoo developed their innovative EV architecture, making them the perfect engineering partner for us as we transition to become a frontrunner in the future mobility industry," said Albert Biermann, Head of Research & Development, Hyundai Motor Group. "We will collaborate with Canoo engineers to develop a cost-effective Hyundai platform concept that is autonomous ready and suitable for mass adoption."
The skateboard will be fully scalable all-electric platform to meet Hyundai and Kia specifications. It will fit a range of models from small-sized EVs to purpose built vehicles.
Platforms currently made by Canoo are designed to house most of the critical powertrain components of an electrical vehicle. Because the company focuses on minimalist functionality, they are able to create lower-cost skateboard than their competition. This design strategy fits into Hyundai's budget-focused business model.
Hyundai Motor Group recently committed to invest $87 billion over the next five years to foster alternative powertrain growth. As part of this drive, Hyundai plans to invest $52 billion in future technologies through 2025, while Kia will invest $25 billion USD in electrification and future mobility technologies, aiming for eco-friendly vehicles to comprise 25 percent of its total sales by 2025.
Canoo is relatively new to the market. The company unveiled its first electric vehicle (for subscription only) on September 24, 2019, just 19 months after the company's founding in December 2017. Canoo's first vehicle will launch in 2021.