As part of the collaboration, Canoo will provide engineering services to help develop a fully scalable, all-electric platform to meet Hyundai and Kia specifications. Hyundai Motor Group expects the platform to help facilitate its commitment to delivering cost-competitive electrified vehicles – ranging from small-sized EVs to purpose-built vehicles – that meet diverse customer needs.
Canoo offers a skateboard platform that houses the most critical components of the vehicle with a strong emphasis on functional integration, meaning all components fulfill as many functions as possible. This unique 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.
Hyundai Motor Group expects an adaptable all-electric platform using Canoo’s scalable skateboard architecture to allow for a simplified and standardized development process for Hyundai and Kia EVs, which is expected to help reduce the cost that can be passed along to consumers. Hyundai also expects to reduce the complexity of its EV assembly line, allowing for rapid response to changing market demands and customer preferences.
With this collaboration, Hyundai Motor Group doubles down on its recent commitment to invest $87 billion over the next five years to foster future growth. As part of this investment, Hyundai plans to allot $52 billion in future technologies through 2025, while Kia will invest $25 billion in electrification and future mobility technologies, aiming for eco-friendly vehicles to comprise 25% of its total sales by 2025.
Canoo unveiled its first electric vehicle for subscription only in September 2019, just 19 months after the company’s founding in December 2017. Canoo says its first vehicle will launch in 2021.
Photo: A concept Canoo electric vehicle